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Chart: Oklahoma medical marijuana sales far exceed expectations
In less than a year, Oklahoma’s medical marijuana industry went from nonexistent to one of the largest and most valuable cannabis markets in the nation. According to tax receipts released by the Oklahoma Tax Commission, sales of medical marijuana in the state stood at just over $258 million through the first 10 months of 2019 […]
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Potential $1.7 billion adult-use cannabis market in Michigan gears up for Dec. 1 launch
Michigan’s adult-use cannabis program is expected to kick off Dec. 1 with about a dozen stores initially, setting into motion a market projected by Marijuana Business Daily to reach $1.4 billion to $1.7 billion in sales a year at maturity. The launch comes at a time that: Nearly eight in 10 municipalities in the state […]
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Major cannabis firm MedMen slashes more than 190 jobs, unloads assets to bolster bottom line
MedMen, a Los Angeles-based multistate marijuana operator, announced it is laying off more than 190 employees to shore up its bottom line, joining a growing list of cannabis companies shedding workers amid falling MJ stock prices and a dearth of outside funding. The cash-strapped, vertically integrated company also disclosed plans to scale back its store […]
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Week in Review: Cannabis layoffs, regulators scrutinizing vitamin E acetate as vape villain, MI adult-use launch looms & more
Layoff announcements continue to weigh on the marijuana industry, state regulators focus on vitamin E acetate additive in vaporizer products as the vape crisis continues, Michigan businesses set their game plans for a December adult-use MJ launch, and more of the week’s top cannabis news. Pink slips pile up Three well-known California cannabis companies this […]
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Cross-pollination could cost marijuana farmers several thousand dollars as hemp production expands nationwide
Outdoor marijuana growers are reporting an increase in cross-pollination from hemp farms, a development that could mean MJ cultivators might lose upwards of tens of thousands of dollars if their plants become unmarketable as flower products.
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Cresco Labs, Origin House revamp cannabis merger as value falls more than 50% and close delayed
Cresco Labs, a Chicago-based multistate cannabis operator, and Origin House are overhauling the terms of their merger announced earlier this year, as falling cannabis stock prices and other factors slashed the value of the transaction in half to approximately $400 million. Because of the revised terms, the transaction also will now not close until approximately […]
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California Marijuana Notebook: Emerald Triangle growers show confidence in market health but prep for challenges ahead
After a turbulent transition into a legal market in 2018, marijuana cultivators and other cannabis companies in California’s famed Emerald Triangle are finally finding their footing and are optimistic about the future a they finish off the fall harvest.
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Marijuana companies usher in a new era of collaboration with mainstream players.