Posts by Josh LeBaron
Marijuana retailers begin allowing hemp-derived CBD, setting up competitive market
More states are allowing the sale of hemp-derived CBD products at marijuana stores, setting up a competitive marketplace between growers and producers of both plants that could dent the bottom line of some MJ companies.
Previously, states that have banned CBD in stores – including Colorado – allowed the chemical compound only if it was sourced from a cannabis plant with a THC concentration higher than 0.3%.
Read more here: https://bit.ly/2zzrLey
Adult-use marijuana sales show resiliency in May, despite pandemic
More than 2½ months into the coronavirus pandemic, cannabis sales in five of the nations’ largest recreational markets are a mixed bag.
But sharp sales increases in Oregon and Washington state – two mature adult-use markets driven by demand from in-state residents rather than tourists – suggest that marijuana consumption is rising during the COVID-19 crisis, indicating that the cannabis industry at-large is likely well positioned to weather a prolonged period of economic instability.
Read more here: https://bit.ly/2zzrLey
The 4 Likeliest States to Legalize Marijuana in November
Despite its numerous growing pains over the past year and change, marijuana remains one of the fastest expanding industries on the planet. After logging $10.9 billion in legal worldwide sales in 2018, Wall Street has global pot sales hitting anywhere from $50 billion to $200 billion by 2030.
Although cannabis is a global growth story, there’s no question that the U.S. is at the center of this expansion. The United States is already responsible for the lion’s share of legal weed sales, in spite of the fact that marijuana remains a Schedule I (i.e., illicit) substance at the federal level. Even with presidential candidates Joe Biden (D) and Donald Trump (R) unlikely to alter this classification, that’s not going to stop legalization momentum at the state level.
Read more here: https://bit.ly/3fd3n1s
Cannabis retailer Harborside appeals 280E tax ruling, but will it prove fruitful?
Oakland, California-based marijuana retailer Harborside is returning to court again to argue that Section 280E of the federal tax code is unconstitutional – and this time, the company is employing a new legal team and a slightly different approach.
Read more here: https://bit.ly/30iJodt
Did U.S. cannabis users spend their stimulus cheques on weed?
Previous data showed a weed sales bump coincided with the coronavirus pandemic unfolding in late March, as cannabis users stockpiled products in fear of dispensaries closing. More recent data elicits a new trend — using stimulus checks to celebrate 4/20.
Cannabis intelligence firms have reported an unusual boost in sales for April 15, the first day U.S. citizens could receive stimulus checks, accounting for normal spending increases around 4/20.
Read more here: https://bit.ly/2zEWWFg
10 tips US cannabis businesses should follow in an economic downturn
With businesses around the country shuttered and millions of Americans out of work because of the coronavirus pandemic, the U.S. is facing its gravest economic crisis since the Great Depression.
Below are 10 tips cannabis businesses should follow when facing an economic downturn.
This list is not necessarily unique to cannabis businesses.
But in an industry that’s already subject to greater federal, state and local scrutiny, these concepts can serve as a guide for those seeking to relieve their financial stress.
Read more here: https://bit.ly/3bVU7Ns
Eight Cannabis Leaders Discuss Emerging Trends In The Industry Going Forward
Eight Cannabis Leaders Discuss Emerging Trends In The Industry Going Forward: 2020.
Read more here: https://bit.ly/2ZsCMc2
US House OKs cannabis banking in passing $3 trillion coronavirus bill
The U.S. House of Representatives late Friday passed a $3 trillion coronavirus stimulus bill that includes a provision that would allow banks to serve state-legal marijuana businesses without fear of punishment.
The bill passed along partisan lines by a 208-199 margin, and now heads to the Senate where it faces fierce Republican resistance.
Read more here: https://bit.ly/2X1PRGD
Medical marijuana sales, patient counts hold steady in Maryland
Maryland’s medical cannabis market remains one of the strongest in the United States, with the robust sales and patient increases of 2019 persisting into a tumultuous 2020.
Sales in Maryland hit $252 million in 2019, up from $109 million in 2018.
Read more here: https://bit.ly/2WUyDuW
Adult-use cannabis markets see uneven impact from coronavirus crisis
While the COVID-19 pandemic continues to dampen adult-use marijuana sales in most U.S. markets, Washington state experienced its strongest month of cannabis sales yet – highlighting the diversity of legal markets.
Read more here: https://bit.ly/2SEbMSX