The second time was the charm for former Detroit Lions receiver Calvin Johnson to get preliminary approval for a license to open a Michigan medical marijuana dispensary. Johnson, along with his wife, Brittney, were approved for pre-qualification status on a 4-0 vote Thursday. The location for the dispensary hasn’t been determined yet. Johnson and business partner Robert Sims […]
marijuana business
Growing Marijuana Industry Struggles To Attract Employees Of Color
As marijuana becomes legal around the country, blacks and Latinos are often left out of new business opportunities. Advocates say people of color are often reluctant to join the growing legal marijuana economy because they were targeted far more often than whites during the war on drugs. Studies show members of such communities were arrested […]
7 Marijuana Companies That Could Win the American Market
As more and more states legalize marijuana, American companies are racing to establish multi-state cannabis empires. It is still illegal under federal law, so exchanges like the New York Stock Exchange and Nasdaq aren’t an option for these outfits. Seven of the multi-state chains have raised war chests and listed their stocks on the Canadian […]
Missouri Businesses Look to Profit From Medical Marijuana
Bennie Palmentere has been looking for warehouse space lately. The shelves at River Market Hydro, Palmentere’s small gardening store, are already stacked high with fans, grow lights and row after carefully placed row of plant food. The urban hipster movement toward growing more food at home has already been good for business. Now Missouri is about to […]
Canopy Growth CEO says ‘For sure there’s a marijuana bubble’
Canopy Growth Corporation saw its shares fall 13% on Wednesday after reporting disappointing earnings that included a revenue decline. Analysts had expected better results from Canopy after Canada launched legal recreational marijuana sales on Oct. 17. But Canopy’s (CGC) shares are still up 30% this year. And its cannabis industry peer Tilray is up 360% this year. […]
New Jersey receives 146 applications for 6 shops as state expands medicinal weed
In another sign of the robust interest in New Jersey’s growing medical marijuana program, the state has received 146 applications to run six new retail shops that would sell the drug to the more than 30,000 people authorized to take it for conditions ranging from anxiety to chronic pain. Would-be operators of the six new […]
Dozens of companies compete for a piece of Va.’s limited medical marijuana market
Four decades after Virginia legalized medical marijuana in a pioneering but ultimately unworkable way, dozens of companies are vying for the state’s permission to grow cannabis and make a medicinal oil out of the otherwise outlawed weed. Under emergency legislation passed early this year, Virginia will grant up to five permits to produce cannabidiol (CBD) […]
More Banks Working With Marijuana Businesses, Despite Federal Moves
The number of banks that are willing to work with marijuana businesses is steadily climbing, even after the Department of Justice revoked protections for state cannabis laws, new federal data shows. By the end of March, 411 banks and credit unions in the U.S. were “actively” operating accounts for marijuana businesses, according to a report […]
Former Speaker John Boehner Joins Acreage Holdings Advisory Board
The U.S. marijuana industry has a new spokesman: John Boehner. The Republican former Speaker of the House has joined the advisory board of Acreage Holdings, a company that cultivates, processes and dispenses cannabis in 11 U.S. states. Boehner’s endorsement, after saying nine years ago he was “unalterably opposed” to legalization, could be considered a watershed […]
States Are Considering ‘Sanctuary’ Status For Cannabis Businesses
Taking a cue from the fight over immigration, some states that have legalized marijuana are considering providing so-called sanctuary status for licensed pot businesses, hoping to protect the fledgling industry from a shift in federal enforcement policy. Just hours after U.S. Attorney General Jeff Sessions announced on Jan. 4 that federal prosecutors would be free to crack down on […]
This Marijuana Stock Is Booming Past The Rest
In case you haven’t noticed, marijuana stocks are growing like a weed. A majority of those with a market cap of at least $200 million have had their share price double or triple over the trailing year as optimism surrounding legal weed grows. Rapidly rising sales figures have certainly played a role in boosting investor […]
Michigan Expects High Number of Medical Marijuana Applications
Officials are expecting a rush Dec. 15 when Michigan begins offering applications to people who want to start a medical marijuana business and be part of what is expected to be a $700-million-a-year industry in the state. “We may have 50. We may have 1,500. We may have 5,000,” Shelly Edgerton, director of the Michigan Department […]
LSU AgCenter Finalizes Contract to Begin Medical Marijuana Operations
The LSU AgCenter has finalized its agreement with GB Sciences Louisiana LLC to operate the center’s medical marijuana business. GB Sciences Louisiana is a subsidiary of GB Sciences, a Las Vegas cannabis company focused on biopharmaceutical development. The parent company has filed patent applications for using cannabis for chronic pain and heart therapies as well […]
Ahead of Conference, Medical Marijuana Businesses Look To UK for Next ‘Green Rush’
In October the UK will host what is believed to be its first medical cannabis conference, an international jamboree of weed-based therapies in London. It may seem like an eccentric choice, given cannabis is illegal in Britain. But Saul Kaye, the Israeli entrepreneur behind the event, is confident the country is on the cusp of […]
California’s Marijuana Market Could Be Worth $5 Billion, Study Predicts
SACRAMENTO, Calif. — California is on the verge of creating a legal market for marijuana worth more than $5 billion that will help make the state a destination for pot-loving tourists, according to a new state-sponsored economic study. But about 29 percent of all cannabis consumers may stay in the illegal market at first to […]
Here’s Some Advice From Cannabis Executives in Uncertain Political Climate
President Trump voiced support for medical marijuana and states’ rights during his campaign, but Jeff Sessions, his pick for Attorney General, has opposed legalization, and will have the power to enforce the federal drug laws that could send people to prison. This political uncertainty adds a new level of risk to entrepreneurs who already operate […]
Major Marijuana Sales Tracking Company Hit Hard by Hackers
The Boston Globe reports that hackers early last week took down the servers of MJ Freeway, a system that tracks marijuana sales and inventory, and helps dispensaries prepare regulatory paperwork. The company says no customer or patient information was stolen during the attack, but large amounts of data was corrupted. The recovery process has been […]
How Marijuana Businesses Fail
After conducting more than 450 compliance inspections on marijuana licenses and providing detailed compliance reports with scores for license owners, investors, banks, insurance and real estate providers, compliance data tells a compelling story. Where do marijuana businesses most commonly fail? Low-Hanging Fruit Low-hanging regulatory fruit are compliance areas where the most frequent violations occur, or […]
