Flow Kana isn’t the only cannabis company forced to make cuts. In recent weeks, companies like Eaze and Weedmaps have also laid off part of their workforce. “It almost feels like an epidemic of companies of similar size going through similar processes,” Steinmetz said. The layoffs reflect challenges in California’s fledgling recreational cannabis industry. Voters legalized recreational marijuana in […]
marijuana sales
Canada Has Sold This Much Marijuana Since Its Legalization Day
According to pretty much every Wall Street analyst and independent report, legal marijuana is the next great growth trend. Sales of legal weed have more than tripled on a global basis since 2014 to $10.9 billion, and are on pace to gallop higher by five to 18 times current levels by the end of the next […]
Medical marijuana sales in Arkansas top $6M as patients procure 800 pounds of it
Arkansas medical marijuana sales have eclipsed $6.04 million, the state reported last week, three months after the drug debuted in the Natural State. In total, more than 800 pounds of cannabis has been legally sold by Arkansas’ eight operating dispensaries since the first retailer opened in early May, according to the Arkansas Alcoholic Beverage Control […]
Recreational marijuana goes on sale Jan. 1 in Illinois. Dispensaries are already getting ready.
Recreational marijuana is just a signature away from being legal in Illinois, and dispensaries are staffing up, remodeling, and wasting no time preparing for new foot traffic. Illinois lawmakers approved a bill Friday that, with Gov. J.B. Pritzker’s promised signature, will allow the state’s 55 medical dispensaries to apply to sell recreational marijuana. Additionally, the dispensaries can […]
Here’s Who Sold the Most Marijuana Last Quarter
Following the opening of Canada’s recreational adult-use marijuana market last October, top marijuana stocks could capture billions of dollars in sales as consumers shift their spending from the black market to licensed marijuana retailers. The potential to profit from pot is sparking a green rush of investment that has some marijuana growers already benefiting more […]
Medical marijuana bill legalizing cultivation and distribution clears Georgia Senate
A bill that would allow the distribution and sale of medical marijuana in Georgia passed the state Senate Friday, a key hurdle in the closing days of the legislative session. House Bill 324 would allow distribution of the drug through up to 28 dispensaries statewide. And it would allow four growing licenses for the state. The […]
After 4 months, medical marijuana sales in Michigan exceed $42 million
Michigan’s medical marijuana market is growing beyond expectations, generating more than $42 million in sales since the first dispensary opened on Nov. 1. In the first month of operation, when only a few licensed dispensaries were open, $7.1 million in pot sales were recorded with the state Department of Licensing and Regulation. That figure grew […]
Pennsylvania medical marijuana sales near $100 million in first year
Pennsylvanians bought almost $100 million worth of medical marijuana in the first year it was available, the Department of Health announced Friday. “The first year that the state’s medical marijuana program has been operational tells us that this program is working to help Pennsylvanians in need of this medication,” Governor Tom Wolf said. “Patients are […]
Colorado marijuana sales crack $6 billion since 2014 legalization, state says
Colorado marijuana businesses have sold more than $6 billion worth of weed and related products since a voter-approved measure allowing adults over the age of 21 to consume recreational pot took effect in the state on Jan. 1, 2014. The milestone figure was highlighted Tuesday in a news release from the Colorado Department of Revenue’s Marijuana Enforcement Division, […]
Massachusetts marijuana: Sales hit $23.8 million in first two months of open retail pot shops
In the first two months of recreational marijuana sales in Massachusetts, pot shops took in nearly $24 million in sales, according to data released by state regulators. The Cannabis Control Commission, the state’s marijuana regulatory agency, released the figures this week. Massachusetts opened the first retail pot shops east of the Mississippi in late November. […]
Cities, towns could opt-out under Andrew Cuomo’s New York marijuana plan
Cities and towns in New York would still be able to ban marijuana sales under Gov. Andrew Cuomo’s soon-to-be-released plan to legalize the drug statewide. Cuomo, a Democrat, is expected to unveil his full recreational marijuana proposal Tuesday as part of his budget plan and State of the State address, which is set for 2 p.m. But […]
California collecting far less than expected in marijuana taxes
Deep in Gov. Gavin Newsom’s new budget is a figure that says a lot about California’s shaky legal marijuana market: The state is expecting a lot less cash from cannabis taxes. The Democrat’s proposed spending plan, released Thursday, projects the state will bank $355 million in marijuana excise taxes by the end of June. That’s […]
Marijuana Prices Are Dropping, So Why Aren’t Edible Prices?
Anyone who shopped at dispensaries last year likely noted that marijuana prices were dropping, with flower going as low as $15 an eighth and concentrates like shatter and wax selling for $10 or $12 per gram. So why didn’t edibles get cheaper, too? With wholesale marijuana prices dropping almost 40 percent from the end of 2017 […]
Now for the Hard Part: Getting Californians to Buy Legal Weed
A billion dollars of tax revenue, the taming of the black market, the convenience of retail cannabis stores throughout the state — these were some of the promises made by proponents of marijuana legalization in California. One year after the start of recreational sales, they are still just promises. California’s experiment in legalization is mired […]
80 Michigan communities are blocking recreational marijuana businesses
At least 80 Michigan communities have banned or are moving to ban recreational marijuana retail stores and related businesses. It’s a swift response from local governments in the month and a half since voters chose to legalize marijuana in Michigan. The Michigan Regulation and Taxation of Marihuana Act took effect Dec. 6. Some of those […]
Will California’s Section 5032 Disrupt the Cannabis Market?
By Ian Stewart On December 7, 2018, California’s three cannabis licensing authorities submitted final versions of the state cannabis regulations scheduled to be approved by January 16, 2019. California’s Bureau of Cannabis Control (Bureau) submitted a final version of Section 5032 of the regulations that substantially limits commercial cannabis activity between licensed and unlicensed entities. […]
What is Massachusetts planning to do with all that marijuana tax revenue?
In a recent interview, Boston Mayor Marty Walsh said he hoped the the tax revenue from marijuana in Massachusetts would be worth the “human toll.” Walsh, who opposed the 2016 state ballot measure to legalize the drug for recreational use, later explained that he hoped the money would be devoted toward initiatives that promote public health and safe […]
Medical marijuana in Utah: You can use it, but you can’t buy it
Utah patients can use medical marijuana legally after a compromise agreement was signed into law, but they likely won’t be able to buy it legally until at least 2020, officials said Tuesday. The state will need time to first build up a database to start issuing patients medical-cannabis cards, and then begin granting licenses for […]
