WeedLife News Network
Hot off the press cannabis, marijuana, cbd and hemp news from around the world on the WeedLife Social Network.
2 Marijuana Stocks To Watch For A Possible Recovery This Week
Starting off the last week of March marijuana stocks are still showing up and down action. More specifically some cannabis stocks are showing a bit of a decrease in momentum. Yet it’s only the start of the new week and anything can change. One of the pros and cons of looking for marijuana stocks to buy is how volatile the sector is. Just because a particular marijuana stock is down does not mean it can’t soon recover. As well if a company is up in the market that it can not see some pullback. Which is actually quite common in the cannabis sector.
A new brand has entered the chat, and its focus is on the Latino consumer and their intrinsic part of modern cannabis culture.
“Latinos are driving so much of today’s economic growth, especially in one of the country’s fastest growing industries – cannabis,” says Jesús Burrola, CEO of Posibl and the co-founder of Humo.
“We’re excited to bring our community a brand through which they can identify — and our broader cannabis community — the highest quality, sustainably grown flower at an affordable price.”
Sweet Dreams Vineyard has officially launched two alcohol-free adult drinks made with THC just in time for 4/20, the unofficial holiday every April 20 celebrating marijuana. Cannabernet and Marijuarita are manufactured in Arizona and sold at Valley dispensaries, use cutting edge nano-emulsification technology and all-natural juices to create an enjoyable adult experience. They’re healthier alternatives to drinking traditional wines or smoking cannabis, provide a quick and consistent effect and aid in sleep and pain management.
“Smoking cannabis has numerous downsides, and can be unacceptable in some social settings,” said Bill Gibbs, founder of Sweet Dreams Vineyard.
Marijuana sales hit record numbers during the height of the COVID-19 pandemic, but those levels have fallen sharply in recent months as coronavirus infections in the U.S. have also decreased. Marijuana Business Daily (also known as MJBizDaily) reported Thursday that many cannabis industry executives have seen the correlation between marijuana sales and COVID restrictions easing in the U.S. The executives noted that people had more idle time at home when bars and other businesses were shuttered in many areas, and some found themselves with extra income as well. Many of those people turned to cannabis products, and MJBizDaily found that year-over-year total sales increased 777 percent in 2020.
Is franchising the future of grows, dispensaries and other cannabis business models?
It is expected that every nascent industry will adopt franchising at some point. The cannabis industry doing this is not surprising. In 2019, after the Franchise Times selected ONE Cannabis as the number one cannabis franchisor in the country, other cannabis business franchises started making waves—attracting widespread interest and attention and gaining higher credibility at the same time.
Today, there are dozens of licensed cannabis franchise establishments in cannabis-legal states. Every month, the Cannabis Intelligence business base records a higher number than the last. It's all thanks to the growing number of cannabis laws being approved across North America.
Cumbersome regulations and litigation are holding back an industry that should be growing faster.
Illinois’ marijuana industry needs a shot of adrenaline.
After a strong start, legal pot sales in the state have slowed recently. Figures released by the state show total sales dropped 14.6% to $117 million in January 2022 from $137 million in December 2021. Of course, you might expect January sales to slow from holiday-boosted December results. And sales were up 32% from January 2021.
Mike Bites represent a chewy and cheeky take on the infamous battle between Tyson and Evander Holyfield
The cannabis edibles version of one of Mike Tyson’s most infamous moments — chomping off a bit of Evander Holyfield’s ear — is in the offing.
In a tweet this week, the former heavyweight champ turned cannabis entrepreneur’s company, Tyson 2.0, giddily announced: “Holy ears! They’re finally here! Go get your Mike Bites now.”
While the “eearily” realistic, near blood-coloured gummies may give some consumers pause, Tyson clearly approves, responding to a tweet:
“These ears actually taste good!”
The marketing magic harkens back to 1997 when Tyson bit off part of Holyfield’s ear during the WBA Heavyweight Champion clash.
The very specific requirements for qualifying applicants, and the system for selecting dispensary locations and assigning applicants to these locations, may complicate the application process.
It is an exciting time in New York, as there is finally momentum towards the first sales in the adult-use cannabis market. Just weeks after Governor Kathy Hochul signed a bill to permit qualified hemp farmers to start growing the first batch of adult-use cannabis, the Cannabis Control Board has released draft regulations that would award the first 100 retail licenses to applicants that meet certain requirements, most notably that an individual applicant or an immediate family member have a past conviction for a marijuana-related offense in New York.
The global pandemic has spurred the growth of the cannabis industry. Over two-thirds of adults in the U.S. now believe marijuana should be legalized, and adoption is growing. As of this writing, medical use is legal in 37 states, and recreational sales are allowed in 18 states and Washington D.C.
Now is a great time to begin your legal business. In this guide, we will outline the key steps required to set up a dispensary, and recommended strategies for marijuana SEO promotion in 2022. Despite its size, the cannabis industry is still censored in terms of advertising media. Businesses may not use Google Ads, so SEO is king.
Is Your Company Missing Out on a Billion-Dollar Opportunity in Cannabis?
Business is booming in cannabis country. Sales of legal cannabis in the U.S. grew 40 percent in 2021 to $25 billion, according to BofA Securities.
But entrepreneurs and large-scale corporations who are eager to cash in on the cannabis bonanza should be prepared for red tape and some seriously gray legal areas as they wait for federal legalization. Because while states have legalized cannabis in many cases—to some degree—it is still not legal on a federal level, meaning you cannot transport it across state lines, even for business purposes.
The California Department of Cannabis Control is proposing a variety of new changes to “streamline and simplify” the state’s cannabis industry.
The California Department of Cannabis Control (DCC) announced on March 4 that it was releasing a list of changes to the state’s regulations on cannabis. According to a press release, these changes intend to “streamline and simplify” existing cannabis regulations, as well as “enhance consumer protections and make permanent changes that are currently in effect as emergency regulations.”
According to DCC Director Nicole Elliot, these changes are a reflection of the intention of the department to continue bettering the state’s cannabis programs.
Inventor of the Renew Sports Car says he was “about seven years ahead of [his] time."
The cannabis car may never have hit the road officially, but its approach to reducing the carbon footprint still holds promise.
Created in 2015, the Renew Sports Car often referred to as the hemp car, featured “a carbon negative, hemp fiber body which was up to 46 per cent lighter than aluminum.”
Using carbon-negative fibre — of which hemp is the primary ingredient — would prevent two tons of carbon dioxide “from being dumped into our atmosphere,” the company website claimed.
France tiptoes into the medical cannabis industry, but legalization needs to be implemented.
The French government issued a decree last month that authorizes the cultivation of medical cannabis and the development of its industry.
Although the decree entered into force on March 1, 2022, regulators need to implement it.
The legislation only specifies the conditions and procedures for the cultivation and production of cannabis for medical use.
The decree has amended some parts of France's Code of Public Health to allow cultivation, production, manufacture, transport, import, export, and possession of cannabis and its derivatives under medical authorization.
As the legal cannabis industry grows, the rate at which women are entering the industry is now declining.
Women held 37% of executive-level roles in 2017, when Marijuana Business Daily released “Women & Minorities in the Marijuana Industry.” Today, the percentage of women holding those top positions has dropped to 22%. That's despite the findings in a recent white paper from The Arcview Group and the National Cannabis Industry Association concluding companies with women in leadership roles are actually more profitable and produce more than twice the revenue per dollar invested than those without them.
Our furry friends have been sleeping better, relaxing more, and are slightly less anxious about our arrival home from work — at least that’s the promise from skyrocketing sales for cannabidiol (CBD) pet products.
As the cannabis industry flourishes in Arizona, pet owners are turning to CBD as a viable alternative medicine for their pet’s ailments. And with the uptick in pet ownership during the COVID-19 pandemic and the normalization of CBD usage across the nation, CBD sales are only expected to grow.
The cannabis industry data experts at BDSA Analytics have released a global cannabis sales forecast today that projects the international weed market will sell $35 billion in 2022.
It’s a 22% increase over the global sales in 2021, which topped off at $29 billion. The compound annual growth rate of the cannabis industry sits at a whopping 15% year-over-year until 2026, BDSA writes. The company’s latest 5 year report can be found on BDSA’s website.
Retail recreational cannabis businesses can open as early as April 1 in New Mexico. However, there are a host of challenges and steps for business owners to consider before opening a recreational dispensary. This includes zoning laws, application and permit fees, a security plan and more which may vary on a state and local level. Rules and laws around cannabis may also evolve as time goes on.
Getting started
Although it’s legal for recreational and medicinal use in New Mexico, cannabis is still a Schedule 1 drug at the federal level.
Minnesota residents can now purchase medical cannabis, making products more affordable for patients who need access.
Sales of medicinal cannabis flower began in Minnesota on Monday, giving the state’s medical marijuana patients a new and more affordable option to access their medicine of choice. The Minnesota Department of Health announced in February that cannabis flower would be added to the state’s medical marijuana program, which until this week only permitted patients to use processed cannabis products such as extracts, distillates, capsules, and topicals.
The grocery run, the fuel-up and the utility bill are all costing more these days — not to mention the surging home prices and rising rents. But a trip to the neighborhood dispensary might not elicit similar feelings of sticker shock.
