For the past century, America has been in a fierce debate regarding the legal status of marijuana. And while individuals on both sides of the issue are passionate about their positions regarding the morality and safety of cannabis, those against legalization have largely had their way— until very recently.
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You can now buy weed out of a vending machine at certain dispensaries in Colorado, America's oldest market for recreational cannabis.
A startup called Anna -- a play on the word "analytics" -- has begun deploying high-tech, self-checkout cannabis kiosks at select dispensaries in the state.
The machines can hold more than 2,000 products that include cannabis flower, edibles, infused beverages, balms and vape oils. The machines are ideal for the shopper who knows what they want and doesn't want to wait in potentially long lines, the company says.
With the legalization of hemp at the federal level with the passage of the 2018 Farm Bill, it wasn’t long before a new industry based on the increasing popularity of cannabidiol began to take root across the country. But the growth of that industry is at risk in Indiana and Texas, where bans on hemp flower threaten the livelihoods of farmers and small business owners alike.
Though Texas lawmakers legalized the production and sale of hemp in its last legislative session, the state has now created a framework that essentially bans the sale of “smokable” products.
Edible goods, tinctures and topicals remain okay under the new program. But farmers and cannabis activists alike have voiced concern that lawmakers violated the scope of the original legislation.
There has never been a more crucial time to automate your cannabis operation. With the COVID-19 crisis settling in for the long haul, businesses are starting to think about how to increase efficiency and profit, while operating a facility safely and comfortably for workers and managers.
As the cannabis sector becomes more competitive, the margins get tighter, and the manufacturing and production environment encounter new challenges, businesses must embrace automation to survive.
Need convincing? Here are the top five reasons to automate your cannabis business now.
How Will This Big Issue Affect Pot Stocks
As we’ve seen in 2020, the demand for marijuana has shot up dramatically. For anyone who watches the cannabis industry, they know that this demand rise is due solely to Covid-19. But, with so much marijuana demand one would think that the cannabis industry is headed in the right direction. And for the most part, this is true. Since mid-March, pot stocks have seen a major amount of growth in their share prices. And, estimates for the future worth of the cannabis industry are continuing to go up.
The cannabis start-up is a place where dreams are born. A place where exuberance pulses through the bloodstream, fueling visions of world domination. It’s a place where the new and the old, the novice and the experienced, the tried and the true have all taken their shot. And most of them have failed.
Many others are waiting for the right moment when they come off the sidelines and show the rest how it’s done. Many equate cannabis to a “gold rush” for all these reasons and more. Not the least of which is the notion that this emerging industry is a lot of fun to be a part of. The parties are sensational. What’s not to love?
Let’s talk about pain and cannabis. No, I’m not talking about medical efficacy, although that’s well proven. I’m referring to the great pains that come with regulatory compliance.
There are so many bureaucratic hoops for a business to jump through, it borders on ridiculous.
As automation continues to change the way we get our cannabis, the future of this booming industry is growing even more exciting.
Due to COVID-19, social distancing is crucial. That’s why so many people prefer contactless options, particularly for items like groceries or take out. Why can’t we do the same with cannabis? Exciting new developments in the world of automation are making contactless cannabis a reality.
After nearly a year of next-to-no deal-making, cannabis companies are gearing up for mergers and acquisitions as realistic stock valuations and the prospect of U.S. legalization attract buyers to a sector that has been decimated by oversupply and other issues, executives and investors say.
Profitable cannabis companies want to buy their way into niche segments and expand their brands, betting that the November U.S. presidential election will lead to weed becoming legal across the United States. Distribution deals could also help companies reach consumers who have shown an increased appetite for pot products since the onset of the coronavirus pandemic.
The cannabis industry can be a complex marketplace for business owners.
With so many regulations and concerns about compliance, managing and marketing one’s business can seem like an overwhelming task.
Colorado’s hemp industry is undergoing a market correction, with decreased production following an oversupply in recent years, The Grand Junction Daily Sentinel reports.
“There’s hundreds of thousands if not millions of pounds of hemp flower that has not sold from last year. We created a huge, huge oversupply and you’ll have that in agriculture,” Wacey Clarke, the owner of Colorado Hemp Solutions, told the paper. “We’ve seen that over and over again when you have new opportunities and all of a sudden leave it to the American farmer to really oversupply those new opportunities.”
Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) reported first-quarter fiscal 2021 net revenue increased 22% to $110 million.
But first, we need to do these 5 things.
Billions of dollars are sitting at the doorstep of Capitol Hill, begging to participate in the economy. But with some wise moves by the Federal government and regulatory agencies, cannabis-generated revenue could be a significant answer to our financial crisis stemming from the pandemic.
For proof, look at the numbers. In 2019, the cannabis industry generated $629.3 million in tax revenue. Thirty-three thousand jobs were added in the United States, bringing the total to 250,000 jobs. The federal legalization of marijuana would create more jobs, provide potential breakthrough medical advancements, and possibly help reverse social injustice.
Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) stock fell over 13% to lately trade at $6.03 after the company reported a net loss for the second quarter of $107 million versus last year’s earnings of $185 million for the same time period. The loss of $0.31 cents per share was worse than the FactSet estimate for a loss of $0.07 per share.
s legal cannabis markets continue to expand rapidly across the globe, Canada is uniquely positioned to develop international safety guidelines for the emerging industry.
On Tuesday, safety science consultant firm UL said it has teamed up with the Standards Council of Canada to host a workshop to address the safety, security and sustainability of the global legal weed industry.
The workshop will kick off in November and cover three distinct areas:
Arkansas-based beer distributor Premium Brands of Northwest Arkansas is adding a hemp beverage to its lineup.
Banking institutions and accountants offering services to cannabis businesses would have a safe harbor in California law under one of the weed-related bills awaiting state lawmakers’ action when they return to Sacramento this week.
One measure (A.B. 1525) says financial services, including public accounting firms, don’t commit a crime under any California law “solely by virtue of the fact that the person receiving the benefit of any of those services engages in commercial cannabis activity as a licensee” under state law.
If you think the stock market has gone for a wild ride over the past five months, take a closer look at how marijuana stocks have performed over the past couple of years.
Through the first quarter of 2019, investors could have thrown a dart while blindfolded at a list of publicly traded pot stocks and had a good shot at landing a triple-digit return. With tens of billions of dollars in black market weed sales conducted each year, the prospect of steadily moving these sales to legal channels proved more than enough to excite investors.
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