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Recreational marijuana is said to bring in millions of revenue for the state, but that does not mean every business will benefit from the new industry.

According to the state of New Mexico, the industry will bring in $50 million in state revenue.

State leaders say that it will be used for state programs such as housing, food insecurity, and economic development.

A local economics professor at New Mexico State University says that the private economy such as restaurants and movie theaters may not see a big boost.

"The reason for that is that marijuana is a recreational drug, people buy it for recreational purposes. That recreational usage means that they're not engaging in some sort of other recreational activity," said Erickson. "

Ohio medical marijuana regulators want to double the number of dispensary licenses in the state to satisfy patient demand, which has been much higher than anticipated since the program became operational.

Currently, there are 58 dispensaries throughout Ohio.

Ohio Board of Pharmacy staff are working on adding 73 new dispensary licenses, said Justin Sheridan, the board’s director of medical marijuana operations, at a Thursday cannabis discussion at Ohio State University’s Moritz College of Law.

That could bring the total number of dispensaries in Ohio to 131 or 132 – depending on the outcome of a court case that could create a 59th dispensary from the first round of dispensary licenses.

The House passed the MORE Act -- but marijuana is still far from legal.

What happened

Less than a week after the U.S. House of Representatives voted to legalize marijuana -- for only the second time ever in history -- enthusiasm for marijuana stocks is disappearing like smoke with both the door and windows open.

Since the Marijuana Opportunity, Reinvestment, and Expungement (MORE) Act was passed, shares of Sundial Growers ( SNDL -7.58% ), Aurora Cannabis ( ACB -6.37% ), and Canopy Growth ( CGC -6.41% ) have all headed in just one direction -- down. Today marks the third straight day of selling. Here's how things stand as of 12:50 p.m. ET:

Three cultivation experts fill us in on what they are excited about as we enter the outdoor planting season.

The Lod-based company Panaxia reported increased revenues from the Israeli market for its sales of medical cannabis in 2021.

The Israeli cannabis company Panaxia released its earnings for 2021 Tuesday. 

Panaxia, which is based in the mixed Arab-Jewish city of Lod, said its net Israeli revenues increased 38% to $83.6 million, according to a press release. 

Panaxia also began exporting medical cannabis oils abroad in late 2020. Export revenues for 2020 and 2021 were $5.6 million, per the release. 

Panaxia’s stock increased by 0.45% today to 67.10 Israeli shekels ($20.94). 

Op-ed: Paul Lewin explores how Delta-8 THC, a cannabinoid that is currently legal across the U.S., is impacting the legal market and the push for federal cannabis reform

Delta-8 THC is a cannabinoid considered similar to delta-9 THC — the compound typically referred to as THC — as both produce psychoactive effects, but in actuality, delta-8 is only about half as potent as delta-9 THC.

For many, delta-8 THC is considered a means to access some of the therapeutic potential of cannabis without the psychoactive effects.

The cannabis business is booming in New Mexico, also known as the Land of Enchantment, with adult-use sales reaching $3,092,712 in the first weekend.

Three days and millions of dollars later, the New Mexico adult-use cannabis industry is off to a roaring start.

Local television station KOAT reports that, as of noon on Sunday, recreational pot sales in the state had eclipsed $3 million.

The station, citing state officials, said that 49,552 transactions for recreational cannabis transactions had been recorded at that time, which totaled $3,092,712.

Sales officially kicked off after midnight on Friday, when hundreds of eager customers lined up outside the dispensaries in anticipation of the historic opening.

With lower prices, CBD can become a true alternative to Big Pharma, and cannabis can become a plant for the people.

The last two years haven’t been great for the CBD industry. The pandemic cratered in-store sales of CBD. Meanwhile, by choosing not to regulate CBD, the FDA left it in a legal gray area, limiting where it can be sold.

If you need evidence of the industry’s decline, just look at Charlotte’s Web, the largest CBD company. In mid-2019, the company’s stock price was flying high at nearly $22. Since then, it’s fallen to just over $1 — a 95% decline.

I believe there’s a way out of this mess, but most companies aren’t prepared, or willing, to see it. Let’s revisit the history of the industry to see why.

Dan Ahrens specializes in portfolio management of highly regulated areas including cannabis and other vice-related investments. He is portfolio manager of the AdvisorShares Pure US Cannabis ETF (MSOS), the largest publicly traded cannabis fund. Dan is also the author of Investing in Cannabis: The Next Great Investment Opportunity.

Russ Prince: What is the opportunity for investors in the cannabis industry and how does AdvisorShares play a role in this opportunity?
Dan Ahrens: I see cannabis offering a growth opportunity similar to that of the alcohol industry post-prohibition. However, today, the world moves much faster and advancements in technology and science are uncovering new opportunities for uses of the cannabis plant. 

Nevada’s alcohol tax collections dropped during the pandemic, though tax officials attributed that more to a lack of wholesale purchases from casinos or bars than from any surge in teetotalers. 

Even with the COVID pandemic waning, state tax officials told legislators this month that Nevadans have made what appear to be some permanent shifts in how they buy legal marijuana through pick-up and delivery modes. Understanding changes in consumer behavior is key for legislators and tax officials, who use the information to make tax revenue projections while crafting state budgets.

Acquisition combines premier California brand with 4Front's state-of-the-art Commerce, California manufacturing facility 

 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) ("4Front" or the "Company"), a vertically integrated, multi-state cannabis operator and retailer, today announced it has signed a definitive merger agreement on March 30, 2022 (the "Agreement") to acquire all of the issued and outstanding shares of common stock of Island Cannabis Co. ("Island").

Since the implementation of recreational marijuana dispensaries after legalization, the industry has spread its roots in the Mile High City and is taking the next step.

Last year, Denver overhauled its marijuana regulations to include licenses for delivery and hospitality. As a result, you can now have marijuana delivered to your home, and some businesses are getting ready to roll out a new model: consuming cannabis in their store.

But a big part of that overhaul was to embed social equity into the application process.

“Since we opened up the applications for consumption licenses a couple months ago, we’ve seen three applications that have been submitted,” Executive Director of Denver Excise and Licenses Molly Duplechian said.

As the cannabis industry continues to grow, so does the competition. Businesses are popping up left and right, all vying for a piece of the pie. While this can be daunting, it doesn’t have to be. There are some simple things you can do to ensure success as a cannabis business. A few examples include selecting the right product, knowing your audience, having a solid business plan, and doing market research, among others.

If you are wanting to start a cannabis business, or you want some advice on how to make it even more successful, here are a few simple tips that you can begin implementing to ensure success.

In two short days, dispensaries across Las Cruces and Doña Ana County will make history as recreational marijuana sales start in New Mexico.

The tax revenue from marijuana will certainly diversify New Mexico's economy but by how much?

"We will be better positioned than other states to capture the market," said Kelly O'Donnell, a northern New Mexico economist who studies the financial impact of social policy.

"Once there is legalization at the federal level, we'll be in a position to export cannabis."

There’s a glaring disparity issue in industrial hemp production — just 6% of producers are Black. A couple in Missouri hopes to create the state’s first Black-owned hemp processing site.

Just northwest of Missouri’s Lake of the Ozarks, past Mennonites in horse drawn buggies, there’s a curvy road that leads to a forgotten piece of Missouri’s Black history – Lake Placid.

The Black-owned cabin retreat thrived in the mid-1900s. P.C. Turner, a doctor from Kansas City, designed it as a place of restoration and refuge for Black families across the state during segregation. But over the decades, many of the once sought-after cabins fell into disrepair.

“We’ve got what I call dilapidation – buildings with no walls,” said Brendalyn King.

Bright Green Corp. plans to trade on the Nasdaq in a direct listing of its shares

Bright Green Corp., a Fort Lauderdale, Fla.-based company with conditional approval from the U.S. Drug Enforcement Administration (DEA) to produce federally legal cannabis, on Tuesday filed plans to directly list its shares for trading on the Nasdaq under the ticker symbol “BGXX”.

Bright Green Corp. disclosed 157.6 million shares of stock held privately by 425 stockholders of record as of Feb. 28. Based on a price of $4 a share in a private stock sale in January, the company’s current valuation is about $630 million, which would make it larger than many U.S. cannabis companies that trade on the Canadian Securities Exchange and the OTC market.

Al Harrington discusses his company’s partnership with Allen Iverson ahead of the new strain release.

There’s a lot of reasons to love Viola. Besides attracting consumers with their high-profile founder, the heart-warming story of the company’s origins or their extensive equity work with Viola Cares—these guys just make great products. Now in their 10th year of operation, today Viola is easily one of the most talked about brands in the cannabis industry, and one of the most popular in terms of sales too. With operations in six states and a licensing deal that will bring the brand into Canada, Viola has long been a shining example of cultural relevance driving sales in this burgeoning space.

Protecting consumers from unhealthy products is key for cannabis growth worldwide

Several years after Washington's legislature first discussed these requirements, the state has finally approved compulsory pesticide testing for all cannabis products produced and sold in the state. Cannabis manufacturers have a duty to meet the demands of cannabis users in a state. For profit reasons, some of these operators have settled for harmful chemicals to increase the output of their crops. These chemicals include insecticides, pesticides, and inorganic fertilizers. Many of them are unfit for human consumption.