WeedLife News Network

A dire truck driver shortage that’s wreaking havoc on the US economy is getting worse — and it’s being fueled partly by tough federal drug-testing restrictions that were imposed nationwide last year, industry officials told The Post.

More than 72,000 truck drivers have been taken off US roads since January 2020 because they have failed drug tests that are now required by the Drug & Alcohol Clearinghouse, a 22-month-old registry established to increase safety on US highways, according to government data.

Project PA Hemp Home, nearing completion on New Castle’s East Side, was presented at the Third U.S. Hemp Building Summit in Austin, Texas last week.

Lori Daytner, vice president of program development at DON, addressed the summit, which was attended by 200 natural building professionals, hemp building materials producers and LEED professionals.

The project has a strong following because of interest in the research and testing Pennsylvania Housing Research Center will conduct on the structure’s thermal energy performance and the air quality testing Parsons Healthy Materials Lab (HML) will perform.

Since the challenges cannabis retailers are facing don’t appear to be going away anytime soon, the best case scenario is for them to be able to successfully adjust to a new normal.

Just as the cannabis industry was beginning to catch its stride, the world was swept into a panic caused by COVID-19. The ways in which the pandemic has affected the supply chain across industries has made life difficult for consumers of products across the board — and the cannabis industry has been no exception.

Here are just a few ways the industry has struggled through recent supply chain challenges.

Legalization doesn't matter as much as it may seem.

Amidst its historic growth spurt prompted by legalization and decriminalization at the state level, the cannabis industry is continuing to mature and change. As in every industry, the best companies are adapting and using the changing conditions to their benefit, whereas the weakest are struggling in the face of new challenges. 

If you want to pick the best cannabis stocks for your portfolio, you'll need to understand what's going on with the industry and why it matters. Follow along with me, and I'll show you which three trends are likely to push strong stocks to soar and lesser stocks to fall.

At least one lender has opened the door to income from the marijuana industry buying, refinancing and pulling cash out.

Mortgage lenders knowingly and sometimes unwittingly provide residential purchase and refinance loans to tax cheats, money launderers and even straw buyers.

How so? Lenders typically face a low bar for income documentation, they don’t look too hard and they don’t ask many tough questions.

So, why can’t lenders provide mortgages for legally licensed, self-employed folks in California’s legal marijuana industry?

Are Canopy Growth and Aurora Cannabis better investments since the departure of their CEOs more than a year ago?

Last month, cannabis producer Hexo (NASDAQ:HEXO) made news when it announced a change in leadership. It's not an uncommon occurrence in a fast-changing industry like marijuana where companies are always adjusting their strategies. But do moves like this typically pay off?

Two of the biggest cannabis companies in Canada, Canopy Growth (NASDAQ:CGC) and Aurora Cannabis (NASDAQ:ACB), have made changes in the CEO position in recent years. The big question is, are they in any better shape today than they were when the changes were made?

Marijuana Stocks And Current Market Activity

In November the cannabis sector has continued to see market declines that have left top marijuana stocks at the lowest trading levels seen in 2021. One part of the cannabis sector that has seen a significant drop in value is Canadian cannabis stocks. After reaching new highs in the first quarter Canadian pot stocks have fallen to levels that could have some possible potential for investors.

The Scotts Miracle-Gro Company (NYSE: SMG) reported full-year financial results as sales dropped 17%  in the fourth quarter to $737.8 million. Still, this topped the Yahoo Finance average analyst estimate for sales of $689 million. Scott’s reported a GAAP loss in the quarter of $0.87 per share compared with earnings last year of $0.07 per diluted share. The adjusted loss in the quarter was $0.82 per share compared with earnings of $0.06 per diluted share a year ago. The estimate was for a loss of $0.84.

DENVER — Charlotte’s Web on Oct. 27 introduced a new full-spectrum hemp extract treat targeting dogs with skin and allergy concerns. The company’s Skin Health & Allergy Support Chews are formulated to support sensitive skin and seasonal allergies.

"As we continue to learn more about the science of allergies in our dogs, we are finding it often requires a multimodal approach – combining traditional and alternative therapies for the best outcome," said Kwane Stewart, DVM, a veterinary media personality and web brand ambassador for Charlotte’s Web.

BOSTON — While recreational marijuana sales have soared in 2021 as Massachusetts emerges from the pandemic, business complications and governmental actions have slowed the pace of the industry's growth, cannabis advocates say.

Massachusetts legalized marijuana in 2016, becoming the seventh state to do so, but only licensed sales in 2018.

“Right out of the gate, the Legislature delayed everything by six months to rewrite the initiatives,” said Jim Borghesani, the communications director of “Yes on 4” in 2016. Massachusetts was the only state to rewrite the law passed by voters on marijuana legalization.

Halloween is almost here. As costumed revelers prepare for a weekend of celebrations, the cannabis industry readies for the beginning of the holiday shopping season just around the corner.

Article originally appeared on Benzinga. Green Wednesday, Black Friday and December holiday shopping sales dominate the collective minds of business operators. However, Halloween is a time to possibly see sales spike around edibles, but also as a moment to look back at the industry's tricks and treats so far.

It’s easy to get excited about the cannabis industry when you hear that legal cannabis sales in the U.S. grew 30 percent in 2020 to a whopping $22 billion, outpacing the $17.5 billion spent on wine. If you’re a savvy, experienced businessperson, you might mistake that kind of booming market with an opportunity to turn a quick profit.

But there are a few aspects of operating a business in the cannabis industry that are dramatically different from running a typical business. Here are three hard truths about cash flow that people need to understand before even considering launching a cannabis business.

Hard Truth 1: You Need Considerable Liquid Funds to Start and Operate a Cannabis Business

In about one year — by October 2022 — Vermont's retail cannabis market is scheduled to go into place, and the state's Cannabis Control Board has already made some key decisions that will shape Vermont’s legal marijuana marketplace.

VPR’s Mitch Wertlieb spoke with senior political correspondent, Bob Kinzel. Their conversation has been edited and condensed for clarity.

Mitch Wertlieb: In one of their earliest and most important decisions, the board has decided to prioritize small marijuana growers, and why are they doing this in particular?

Bob Kinzel: Mitch, they're really doing this at the direction of the Legislature, and I think it might be one of the most important decisions that they've made, because it has a rippling effect on many aspects of this issue.

Producing and distributing pot in Grover Beach is about to be more pocket-friendly thanks to a new drop in commercial cannabis tax.

The Grover Beach City Council unanimously greenlit the plan at its Oct. 25 meeting to attract businesses in the cannabis industry to the beach city. Grover Beach's cannabis industry has been expanding ever since its first legal marijuana business opened in May 2018. In fiscal year 2020-21, the city raked in $2.4 million in cannabis revenue. It's a major leap from the $16,359 the fledgling industry generated that first year.

Cannabis cultivators in the mountains of Northern California’s Emerald Triangle, which is the heart of marijuana production in the U.S., are off the grid. But one of the country’s largest propane gas providers, AmeriGas, happily supplies growers with 1,000-gallon containers of propane to fuel their operations.

New York state employers will no longer be allowed to test employees for cannabis, according to new regulations released by the state Department of Labor.

This makes New York the first state in the country to prohibit employers from testing both current and prospective workers.

In other states where marijuana is legal, there are laws that ban employers from penalizing workers who test positive, but this is the first regulation to explicitly prohibit workplace testing for cannabis altogether.

You can add Nevada to the list of states that have surpassed more than $1 billion of medical and recreational cannabis sales over a one-year period (according to state officials) and we consider this to be a milestone for the US market. (as originally appeared on technical420.com)

Lil’ Kim just announced an exciting new cannabis partnership with California cannabis brand superbad inc. and tech platform CampNova.

Hip-hop legend and fashion icon Lil’ Kim is the latest celebrity to enter the cannabis fray. Partnering with California pot brand superbad inc. and tech platform CampNova, the Brooklyn native joins the marketplace and a growing list of celebrity brands aiming to stake their claim in the booming cannabis game.

In addition to personal market success, Lil’ Kim and her business partners hope to inspire more Black and female entrepreneurs to join the industry as business leaders.

The global cannabis market was Valued at USD 22. 10 billion in 2020. The market is projected to witness a CAGR of 13. 9% during the forecast period (2021-2026). Like every other market, COVID-19 had an adverse impact on the cannabis market as well.

New York, Oct. 27, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Cannabis Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06155696/?utm_source=GNW