Epidiolex, the only plant-derived cannabis drug approved by the U.S. Food and Drug Administration, is no longer considered a controlled substance, providing a boost to its manufacturer’s stock price. GW Pharmaceuticals, a biopharmaceutical company based in London, saw its stock go up 5.9% on Tuesday, one day after the U.S. Drug Enforcement Administration said it […]
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Advocates say cannabis multistate operators lag on social equity leadership, but opportunity remains
The U.S. cannabis industry’s record on social equity is patchy at best, and it is the large multistate operators who have generally failed so far to take significant leadership on the issue, according to social equity advocates. Recent news might well support that claim. For example, just as Washington state is enacting a new law giving social […]
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Cannabis firm iAnthus defaults on interest payments, probes CEO
Multistate marijuana operator iAnthus, partially blaming the coronavirus, said it is unable to meet interest obligations totaling $4.4 million on $157.5 million in debt. The New York-based company also delayed announcing its quarterly earnings results. “The decline in the overall public equity cannabis markets, coupled with the extraordinary market conditions that began in Q1 2020 […]
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Marijuana giant Green Thumb’s president steps down
Armen Yemenidjian resigned as president of multistate cannabis operator Green Thumb Industries. Yemenidjian, who is leaving the company to spend more time with his family, will continue to work with Chicago-based GTI for the next six months to ensure a smooth transition, the company said in a statement. During that period, he will focus primarily on […]
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Chart: Coronavirus takes its toll on March adult-use marijuana sales
Recreational marijuana sales in four key markets decelerated in March as the COVID-19 crisis continues to disrupt both the cannabis industry and the broader U.S. economy. According to point-of-sale data provided by Seattle-based Headset, recreational cannabis sales in Colorado and Nevada declined from March 2019 to March 2020, the first time that monthly adult-use sales […]
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MJBizDaily cannabis investor webinar on tap Tuesday
The clock is ticking to register for Marijuana Business Daily’s Investor Intelligence webinar, “State of the Industry and 2020 Trends,” which is scheduled for 1 p.m. ET/10 a.m. PT on Tuesday. Investor Intelligence analysts Craig Behnke and Mike Regan will provide a framework on how to invest in the cannabis sector now for the long […]
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Colorado eases hiring process for cannabis firms eyeing casino workers
In a positive business development for Colorado’s marijuana industry, state regulators are allowing cannabis companies to hire casino workers during the coronavirus crisis without having to obtain any additional credentials. The Colorado Marijuana Enforcement Division established the emergency rule easing hiring requirements for the state’s marijuana businesses because casino employees and cannabis workers undergo similar background checks, MED […]
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Illinois adult-use marijuana stores sell $110 million in first three months
Adult-use cannabis stores in Illinois sold almost $110 million in products in the first quarter of 2020, state regulators say. In March, stores sold 812,203 marijuana products for a total of $35.9 million, according to the Illinois Department of Financial and Professional Regulations. Recreational retailers in Illinois sold $27.1 million, or 75.5% of total sales, […]
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Cannabis vaping firms nearly recovered from vape health scare, but COVID-19 concerns loom
Marijuana vaporizer companies are on the rebound since last summer’s vaping health crisis, reporting that sales numbers are largely back to normal despite concerns around the COVID-19 pandemic and its impact on consumer behavior as well as the supply chain. Seattle-based data analytics firm Headset found that all four of the U.S. markets it tracks […]
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So many cannabis trade groups, but which is right for your business’ needs?
In response to the cannabis sector’s staggering growth, more and more stakeholders are joining trade associations that represent the industry.
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Week in Review: Marijuana firms cut costs amid COVID-19, L.A. cannabis licensing audit, NYSE aims to delist CannTrust & more
Three multistate marijuana operators – 4Front Ventures, MedMen Enterprises and Acreage Holdings – announced cutbacks in bids to accelerate their paths toward profitability, even as some experts questioned the overall financial strength of the industry amid the coronavirus crisis and a contracting economic climate. MJBizDaily takeaway: There have been plenty of shakeups recently at the C-suite level […]
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MJBizDaily podcast: Marijuana firms pivot to virtual 4/20 events, New York adult-use cannabis appears stalled and more
Cannabis companies are hosting virtual 4/20 events amid COVID-19 concerns, instead of the usual monthlong parties and celebrations. Some of the other top headlines addressed in this week’s MJBizDaily podcast include: New York adult-use marijuana legalization appears stalled Colorado marijuana retailers get OK to resume in-store sales Los Angeles cannabis licensing audit finds flawed process, no […]
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Setting salaries and recruiting the best North American cannabis jobs in 2020.