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How Can These Two Pot Stocks Prove Their Stability to Investors?

Since the inception of Cannabis & Tech Today, we’ve spoken with industry-leading female entrepreneurs to discover their secrets for success. In this exclusive panel, they share their concerns, their advice, and their experiences as some of the first women to pioneer the space.

What’s one of the biggest issues you would fix in the cannabis industry?

In Kansas City, you no longer need to sweat it if you’re holding a little bud. 

That’s because the City Council on Thursday passed a new measure removing marijuana from the city’s code of ordinances. The measure passed the council by a vote of 9-4, according to local television station KMBC. With its passage, marijuana is essentially decriminalized in Kansas City. 

The proposal was offered up last month by Kansas City Mayor Quinton Lucas, a Democrat, along with four other council members. 

“One of the ways we improve police-community relations is by eliminating laws that for too long have led to negative interactions, arrests, convictions, and disproportionate rates of incarceration of Black men and Black women,” Lucas said at the time. “Reducing petty offenses—such as municipal marijuana offenses—reduce these negative interactions each day.”

In a tweet on Thursday heralding the vote, Lucas noted that the measure comes on the heels of two significant votes on marijuana policy in Kansas City and Missouri. In 2017, voters in Kansas City approved a measure—by a margin of 72-25—to decriminalize marijuana for 35 grams or less, opting instead to impose a mere $35 fine. A year later, voters in Missouri overwhelmingly approved a measure legalizing medical marijuana. Thursday’s vote, Lucas seemed to be saying, followed in that tradition.

Senator Mike Gabbard, Chair of the Agriculture and Environment Committee, applauded the final passage of a bill in the House of Representatives today to legalize the growing, processing, and sale of industrial hemp in Hawai‘i.

It passed the Senate on Wednesday unanimously, with Senators Les Ihara, Clarence K. Nishihara, and Laura H. Thielen expressing reservations.

The bill now goes to Governor David Ige to sign into law.

“This commercial hemp program will help grow a new industry in our state, which is especially needed now due to the impacts of COVID-19,” said Senator Gabbard. “This bill will provide an opportunity for economic development and the diversification of our economy. Hemp is an incredible plant that produces over 25,000 products and we’re very close to making the Hawaiian Hemp brand a reality, not only in the U.S. but globally as well.”

The bill (HB1819 HD2 SD3), was championed by Senators Gabbard, Donovan Dela Cruz, Rosalyn H. Baker, Karl Rhoads, and Senate President Ronald D. Kouchi, and Representatives Mark M. Nakashima, Sylvia J. Luke, Nadine K. Nakamura, Kyle T. Yamashita, Richard P. Creagan, Chris Lee, and House Speaker Scott K. Saiki.

Pending litigation, the Oklahoma attorney general’s office temporarily has agreed the state will not enforce some medical marijuana laws that could force some dispensaries to close their doors.

On Monday, Oklahoma’s assistant solicitor general agreed the Oklahoma State Department of Health and the Oklahoma Medical Marijuana Authority will not enforce certain residency and location requirements that pertain to medical marijuana businesses and how long their owners have resided in Oklahoma.

The temporary stipulation comes as some medical marijuana businesses are suing the state over the legality of laws requiring cannabis business owners to be residents of the state for at least two years and mandating that dispensaries be located more than 1,000 feet from schools and preschools.

The laws took effect on Aug. 29, 2019.

As the legality of these provisions is debated in court, the Medical Marijuana Authority will not consider the two-year residency requirement when evaluating business license renewal applications, as long as a business owner originally applied for a license before the new law took effect.

CBD is one of the fastest growing industries in the U.S. Here are some ways to help improve your experience with the compound.

It’s understatement to say that CBD is a fast growing industry. Despite its popularity and widespread use, CBD is a compound that varies in effect depending on the person. It’s also a compound that’s shrouded in misinformation and that lacks scientific research. A survey from last year found that 60% of respondents didn’t even know what CBD was.

The scientific studies that have been conducted on CBD show that it holds some promise for  treating different kinds of conditions, from treating mental health to targeting physical aches and pains. In short, just because the compound needs more research, doesn’t mean that you shouldn’t give it a shot.

Here are 4 things you can do to make the most of your CBD.

Keep a schedule

Photo by rawpixel.com

State Regulators in Ohio voted on Wednesday to reject petitions that would have added autism and anxiety as conditions that qualify a patient to use medical marijuana. The Ohio State Medical Board voted to approve, however, a request to add patients diagnosed with a chronic wasting syndrome known as cachexia to the state’s medicinal cannabis program.

Wednesday’s votes are consistent with the recommendations of a medical board committee issued last month. The board also voted not to include autism and anxiety when they first considered petitions to add the conditions to the state program last year.

The board received a total of 136 public comments on the proposals to include the three conditions, including requests to reject the addition of anxiety and autism submitted by Cincinnati Children’s Hospital, Nationwide Children’s Hospital in Columbus, and the Ohio Children’s Hospital Association.

“The inclusion of autism and anxiety as conditions has the potential to negatively impact the health and well being of thousands of children in Ohio,” wrote Sarah Kincaid of the Ohio Children’s Hospital Association. “There is little rigorous evidence that marijuana or its derivatives is of benefit for patients with autism and anxiety, but there is a substantial association between cannabis use and the onset or worsening of several psychiatric conditions.”

Carrie Taylor, an Ohio mom who has twin sons with autism, was disappointed last year when the medical board rejected the petition to add the condition to the state’s medical marijuana program. She has since redirected her efforts to the legalization of recreational cannabis in Ohio, saying she does not believe the board will ever add autism.

Accountability is a long-term goal for industries that are intrinsically tied to racial justice. Cannabis is one of those industries.

While it seems the news cycle has possibly shifted its focus from the Black Lives Matter movement to other issues, righting systematic wrongs is still an important ongoing responsibility for entrepreneurs within the cannabis and hemp industries. That's why one group of business owners is inspiring cannabis to stay the course with The Accountability List.

According to a news report from the Associated Press, Nebraska voters will likely get to vote this November on initiatives to legalize medical marijuana and casino gambling after advocates for both announced Thursday that they have enough signatures to put them on the November ballot.

According to the AP, organizers of the Nebraskans for Medical Marijuana campaign said they’ve gathered 182,000 signatures. To qualify for the ballot, the campaign needed to turn in more than 121,000 valid signatures, representing more than 10% of the voters in the state. Campaign officials also needed to collect signatures from at least 5% of voters in at least 38 Nebraska counties.

“Today represents a huge step forward for thousands of Nebraskans who deserve compassion,” said state Sen. Anna Wishart, of Lincoln, who co-chaired the campaign committee. “We are confident that we’ve met the requirements for ballot qualification, and after seeing the outpouring of support for our petition, we’re even more confident that Nebraska’s voters will approve this initiative in November.”

Meanwhile, the pro-gambling group Keep the Money in Nebraska announced that it will submit 475,000 signatures for its three petitions to allow casino gambling at horse-racing tracks. One petition seeks to amend the state constitution to allow gambling, one would change state law to authorize and regulate the casinos, and the third would direct the tax revenue into a property tax credit fund and toward local governments. The constitutional amendment proposal garnered more than 205,000 signatures, while the two other gambling-related measures each received more than 135,000.

The chief executive officer of independent cannabis retailer Fire and Flower Holdings said this week Canada needs 4,000 pot shops in order to compete with the country’s still-thriving black market. 

In an interview with BNN Bloomberg, Trevor Fencott said the Canadian illicit market for weed is still more efficient than the legal one, which has suffered numerous setbacks since legalization took effect nearly two years ago. The slow rollout of pot shops has been the most commonly-cited culprit behind the less-than-stellar performance of legal marijuana companies. 

“The most efficient market out there is the illicit market. It’s not regulated, but it is efficient. Prohibition or enforcement alone don’t work. You need to compete with the illicit market head-on economically,” Fencott explained. 

In order to achieve this, Fencott suggests Canada should follow Colorado’s model – where one dispensary is opened for every 10,000 residents. This means Canada would need to open as many as 4,000 dispensaries, while less than 1,000 have been opened to date. 

“The way we see this going is that cannabis is ultimately going to be a convenience commodity. You have to give people multiple access points to the product that they want to buy, especially if you want to compete with the illicit market,” he said. 

The potential of medical marijuana is widely known, not only in Canada and the U.S., but also globally. Many patients find that medical cannabis has helped them with certain health issues where conventional medicine has failed, including chronic pain, post-traumatic stress disorder (PTSD), Crohn's disease, and anxiety.

Meanwhile, recreational cannabis is gaining popularity because of the variety it offers in satisfying consumers looking for an intoxicating or relaxing experience.

To take advantage of this popular and evolving market, two big names in cannabis space, Aurora Cannabis (NYSE:ACB) and Canopy Growth (NYSE:CGC), are in a tight race. But before I tell you the progress each has made, let's shed light on the growth of the medical and recreational cannabis markets in Canada and the U.S.

How have medical and recreational cannabis progressed?

Worldwide legal cannabis sales have been impressive. In 2017, the number stood at $9.5 billion; that increased to $12.2 billion in 2018, per data from BDS Analytics. In 2019, medical marijuana made up 71% of total legal pot sales.

CBD anti-inflammatory properties and mental health treatment capabilities demand further investigation for coronavirus patients, according to a new study.

As researchers and doctors rush to understand the novel coronavirus, sometimes new evidence contradicts old claims. Cannabis represents a main topic where scientists have spun 180 degrees in discussing how the plant interacts with COVID-19. Public health officials announced back in March that marijuana smokers and vapers were more at risk to contract and spread the coronavirus.

Lung health experts still don’t recommend inhaling any combustible material like tobacco or marijuana, due to the inflammation caused in your airways. However, cannabis has emerged as an unlikely candidate in preventing and treating COVID-19 symptoms.

Researchers at the University of Nebraska and the Texas Biomedical Research Institute now believe CBD could reduce the lethal lung inflammation caused by COVID-19. In a peer-reviewed article published in this month’s issue of Brain, Behavior, and Immunity, the researchers called for more studies into cannabinoids for their anti-viral and anti-inflammatory capabilities to combat the coronavirus.

“Acute infection is associated with a cytokine superstorm, which contributes to the symptoms of fever, cough, muscle pain,” researchers wrote. In severe cases, lung inflammation could lead to pneumonia, making it difficult to breathe for patients who already have weakened immune systems.

More radical change to drug policy could be coming to Oregon after the November federal election.

The Drug Addiction Treatment and Recovery Act, which would decriminalize drugs in the state, qualified for the ballot after it amassed a total of 116,622 valid signatures of support, per the Oregon Secretary of State.

The Act would downgrade possession of most drugs from a crime to a violation. For example, a person found guilty of being in possession of a Schedule I, II, or III drug, a Class A misdemeanor, can face one year in jail and a US$6,250 fine. Under the act, the same offence would be reclassified as a Class E violation, resulting in a fine of $100 or a completed health assessment.

Possession of a Schedule IV drug, formerly punishable by 30 days in jail and a $1,250 fine, would also convert to a Class E violation, leading to a $100 fine or health assessment.

“Oregonians have always been early adopters of drug policies that shift the emphasis towards health and away from punishment,” managing director of criminal justice law and policy at Drug Policy Action  Theshia Naidoo told Talking Drugs in March.  “The idea behind this groundbreaking effort is simple: people suffering from addiction need help, not criminal punishments. Instead of arresting and jailing people for using drugs, the measure would fund a range of services to help people get their lives back on track.”

In a bid to win over still-skeptical progressives, Joe Biden on Wednesday unveiled a set of policy proposals that moved him more closely aligned with his one-time rival, Bernie Sanders. But on the matter of marijuana, the former vice president and presumptive Democratic nominee remains miles away from legalization.

The proposals were detailed in a lengthy document born out of a Biden-Sanders task force that tackled a number of policy issues—from criminal justice to climate change. According to the New York Times, Biden is “expected to adopt many of the recommendations.” The Times noted that some of the recommendations, such as economics and the environment, “include broader and costlier plans than [Biden] has championed so far in his campaign.” 

But the Biden and Sanders camps remain at loggerheads over a number of areas, including cannabis policy. Sanders has long championed legalizing marijuana on the federal level, where it remains on the list of banned substances. In unveiling his own comprehensive plan on drug policy last fall, Sanders vowed to “legalize marijuana and end the horrifically destructive war on drugs,” which he said “has disproportionately targeted people of color and ruined the lives of millions of Americans.” Biden has steadfastly resisted legalization, a position he reiterated in a clumsy interview last month on “The Breakfast Club.” 

Decriminalization Over Legalization

The policy paper released Wednesday by the Biden campaign falls well short of legalization, too, asserting instead that “Democrats will decriminalize marijuana use and reschedule it through executive action on the federal level,” while also saying they support the “legalization of medical marijuana.” On the matter of recreational legalization, however, the paper says only that “states should be able to make their own decisions,” which is more or less how marijuana policy has operated in the U.S. since 2012, when Colorado and Washington voters passed measures ending the prohibition in their states.

Marijuana is listed as a schedule I drug under the federal Controlled Substances Act, a category that also includes heroin. As defined by the law, schedule I drugs have “ a high potential for abuse,” and “no currently accepted medical use in treatment in the U.S.” 

“Wellness” is the latest buzzword in town when it comes to the cannabis-munchie movement. The cannabis community wants America to know, or at least it wants it to think, that instead of scarfing down fast food and Little Debbies whenever it comes time to tame the ravenous appetite that often comes with getting high, they are grabbing fruits and vegetables instead. It’s all part of the new-and-improved stoner image 2.0. But are marijuana users really opting for healthier food choices when those high hunger pangs set in? Maybe, but then again, maybe not.

If we look at some of the latest research on the matter, it is easy to see that all of this talk about wellness, healthier munchies and the brand-spanking new pulse of the lifted lifestyle might not be real.

A 2015 study published in the journal Social Science Research Network finds that junk food sales have increased by around two per cent in states where marijuana is legal. Of course, this is not a huge uptick or anything, especially when compared to the 1.3 per cent increase in areas of prohibition. But it does show that high fat, sugary foods still have a shot at becoming a stoner staple in areas of the United States where marijuana consumption is now part of normal society.

The munchies is one of the most popular side effects of cannabis. Dietary experts, like Debbie Petitpain, a registered dietitian nutritionist and spokeswoman for the Academy of Nutrition and Dietetics, said the reason cannabis consumers often gravitate toward junk food is because weed “hijacks the parts of your brain that make you seek pleasure.” In turn, these people are more likely to grab salty and sweet snacks to satisfy high hunger.

It also doesn’t help matters that marijuana causes a heightened sense of smell and taste. This only compounds the plate-punishing destruction, encouraging high timers to eat more, Petitpain said in an interview with the Boston Herald.

Pennsylvania Lt. Gov. John Fetterman is urging state lawmakers to legalize the adult use of cannabis as a way to reduce the impact of a looming budget deficit. The state faces a budget shortfall of $3.2 billion, largely as a result of the continuing COVID-19 pandemic and its impact on the economy.

Fetterman took to Twitter last week, calling for the legalization of marijuana as a path to new tax revenue for the state and reform of the state’s penal system as a way to realize budget cost savings.

“I don’t know who needs to hear this jk I know who—but earnestly reforming our state prison system + legalization of marijuana could generate half of this COVID-19 deficit,” Fetterman tweeted on July 2. “It would, however, could have other unintended consequences like justice and personal freedom.”

“If only there was a widely-consumed unregulated cash crop, wholly confined to the black market, that could generate billions of dollars + 1000’s of jobs + help PA farmers,” he wrote in another tweet the same day.

Lt. Governor Says A Majority Of Pennsylvanians Support Legalization

The Democratic lieutenant governor continued his call for the legalization of recreational cannabis on Tuesday with Pittsburgh local media.

Telehealth services that were made available to Florida’s medical marijuana patients due to the coronavirus pandemic may become a permanent option. 

That’s according to the web publication Florida Politics, which reported this week that the temporary provision first established at the outset of the COVID-19 outbreak—and then extended in May—might become a fixture in the state’s medical cannabis program.

The state’s Department of Health unveiled emergency rules back in March that allowed licensed physicians in Florida to see their patients and issue prescriptions remotely. The state’s Republican Governor Ron DeSantis extended telehealth services for medical marijuana patients another 60 days in May. Now, with the provision set to expire this week—and the coronavirus experiencing a resurgence in states such as Florida—some advocates think it needs to be extended indefinitely.

“It’s excellent for the patients, convenience-wise, safety-wise and in a lot of other ways,” Barry Gordon,  a former physician in Ohio who now owns a cannabis clinic in Venice, Florida, told Florida Politics. “The majority of the patients can find that they can integrate it into their lifestyle in an appropriate way and don’t need a lot of further medical advice.”

Gordon continued: “Those types of things are easily done in a [telehealth] consultation. I like to call it being a 2020 doctor and not adopting a 1980 philosophy. We don’t know how long this COVID-19 crisis is going to last…. . It just makes sense. It’s a different society now.”

Sales of adult-use cannabis in Illinois hit a new record high last month, as recreational marijuana dispensaries sold more than $47.6 million worth of legal products — a 7.5% uptick versus the previous month.

According to Illinois Department of Financial and Professional Regulation (IDFPR), which tracks sales at licensed adult-use shops, nearly $240 million worth of recreational cannabis has been sold in Illinois through the first half of the year.

Meanwhile, sales of medical cannabis from 55 licensed medical marijuana dispensaries in Illinois totaled $29.6 million in June, down slightly from the previous month. Concentrates and infused products made up roughly $15.9 million worth of sales, while dry flower accounted for about $13.7 million.

Medical marijuana sales in Illinois have topped $170 million on the year, according to the state, bringing total statewide cannabis sales (recreational and medical) to about $410 million through the first six months of 2020.

The record-breaking recreational sales in June comes as cannabis firms have wrestled with difficult operating conditions throughout much of the year. When adult-use dispensaries first opened in January, they struggled to maintain adequate inventory levels as initial demand outstripped supply.

In light of the impending November 2020 ballot question, in which New Jersey residents will be asked to vote on the legalization of adult-use cannabis, it is imperative now more than ever that legalization is enacted through the meticulous lens of social equity.

Meticulous in the sense that social equity programs must be more than an afterthought, more than an addendum to a bill and more than simple promises to act.

Social equity provisions must be statutorily enacted to ensure a stable foundation that will hold strong as New Jersey’s nascent cannabis industry continues to evolve.

New Jersey is no stranger to the criminalization of cannabis as it consistently ranks in the top three states in the country for the highest number of cannabis arrests and ranks 25th in the country for highest racial disparity in cannabis arrests.

Despite its incarceration history and despite spending more than $143 million of taxpayer’s money each year on cannabis arrests, New Jersey has yet to implement any social equity initiatives in the state’s eight-year history of having a medical cannabis program.