WeedLife News Network

Hot off the press cannabis, marijuana, cbd and hemp news from around the world on the WeedLife News Network.

Marijuana reform at the U.S. federal level could soon be on the way, as it won't be long before Democrats are in control of the House, Senate, and White House. And that's giving the industry a lot of hope that legislation favorable to marijuana could pass, potentially making the already hot cannabis industry an even more appealing investment opportunity. It could even pave the way for companies in other industries to start jockeying for position, partnering up with cannabis producers before legalization -- which could still be years away.

Trulieve (OTC:TCNNF), Green Thumb Industries (OTC:GTBIF), and GrowGeneration (NASDAQ:GRWG) have at least tripled investors' money over the past year alone. Those are substantial returns considering that the industry benchmark, the Horizons Marijuana Life Sciences ETF, only returned 22% over the past 12 months. Just what could be behind such amazing outperformance?

Cannabis stocks are off to a hot start to the year, but can that momentum be sustained?

Thanks in large part to optimism surrounding the Georgia Senate run-off election results that will give the Democratic Party control of Congress in addition to the White House, cannabis has been one of the biggest winners of the new year, with the valuations of most pot stocks trading around record highs.

Major U.S. cannabis operators Curaleaf Holdings Inc., Trulieve Cannabis Corp., and Cresco Labs Inc. have climbed 19 per cent, 31 per cent and 26 per cent, respectively, in that time. Meanwhile, smaller players have also posted similar gains.

Now is an excellent time to be in the infused products game. In the next four years, experts predict that legal retail sales of THC-infused products alone will surpass $21.5 billion. CBD is becoming more mainstream every day, and quality infused products are pulling in A-list investors

Still, creating a successful infused product is very much a science —it does not happen by accident. Diligence, forethought, and adaptivity are the names of the game for any entrepreneur hoping to share in the industry’s growth and success. Before you cash out your savings, make sure your business plan answers these three essential questions. 

Put in the work, be disciplined, and consider getting a little exposure in this area to balance out a well-diversified portfolio.

Whether or not you’re personally interested in the use or application of cannabis, there’s no doubt that this market is prepared to boom in the coming years. Strategically adding some stocks to your portfolio could generate healthy returns.

Marijuana Market Overview

To say that there are certain connotations and assumptions associated with the marijuana market would be putting it lightly. Because of the historical treatment of marijuana and various state laws regarding production, sale, and consumption, some look down on this market and/or have reached misguided conclusions on the purpose it serves.

Maine is currently the only state in the country to kick off recreational marijuana sales during the pandemic.

According to the Maine Office of Marijuana Policy, even with nearly 45 active licenses given to growers, manufacturers, testing sites and retail stores across the state, the demand has been too high for the supply chain to keep up.

But officials expect that to change and they predict more sales in the future.

John Lorenz, the owner of Sweet Relief, agrees.

“There's Downeast travel again. If 3 million people head to Acadia again every year for lodging and restaurants and food, they will pass my location,” said Lorenz.

The latest report from the Canadian Centre for Policy Alternatives (CCPA), titled The Golden Cushion, lists Canada’s top-paid CEOs in 2019. On average, the top-100 CEOs made 202 times what the average Canadian worker earned.

Nearly 100 people have applied to be one of three representatives on Vermont’s Cannabis Control Board, a powerful entity that will implement rules and regulations and oversee licensing for the state’s nascent adult-use marijuana marketplace.

Applicant names are considered confidential under Act 164, the law passed last year that legalized recreational cannabis sales in Vermont starting in 2022. But Gov. Phil Scott’s office, which is overseeing the application process, released some demographic information about the 94 people who applied during a two-week period in December:

Are Cannabis Stocks Good For Long-Term Investing?

The global cannabis market is expected to continue climbing to new heights over the next few years, according to a recent report.

The report from Arcview Group & BDS Analytics, that said that the global cannabis market is expected to reach to $42.7 Billion by 2024.

“That is a true testament to just how popular cannabis is among consumers and the ongoing impact of new markets coming online and maturing,” the report reads. “The possibilities are boundless as political progress opens up more markets across the world, and struggling markets sort out their regulatory framework.”

As the cannabis industry expands into the rest of the U.S. market, traditional manufacturers and other businesses are getting involved. For manufacturers, there is an opening for logistical, quality, and production help. Whether it’s in healthcare or packaging, outside industry is now applying traditional business methods to cannabis to further legitimize its place in the contemporary market.

Recently, Cannabis & Tech Today sat down with Roger Throckmorton, Chief Brand Officer at International Plastics in Greenville, SC, to discuss better packaging options for the cannabis industry and why the “barrier bag” is key.

This year, 49% of B2B marketers are replacing live events with webinars in response to the pandemic, according to data analytics company Statista.

It’s not a pivot that’s been easy to do.

Most event planners are focused on customer experience, lining up all-star speakers, and hosting in the best possible location for their demographics.

If one had to choose between attending a conference in Burlington, Vermont or Las Vegas, Nevada, most would be inclined to choose Las Vegas because of it’s relatively centralized geographic location, affordable air fares, and abundance of after-hour activities.

This coming year will bring major consumer-driven shifts to the hemp industry. Experts estimate that the CBD market is set to reach $18 billion by 2025 and include CBD for all uses, including topical, pet products, pharmaceuticals, and nutraceuticals. 

Here are some industry trend predictions I have for 2021: 

The possibility that marijuana-infused drinks will someday be swigged alongside beer at a ballgame or in a bar is one step closer to reality.

Michigan’s Marijuana Regulatory Agency on Monday released anticipated guidelines for THC-infused beverages, which may be available for sale at licensed marijuana stores once approved by the state licensing agency.

This also opens the door to potential imbibing at consumption lounges or during marijuana events. So far, the state hasn’t issued any licenses for lounges or approved any marijuana-infused beverages for sale.

All eyes were on the Georgia special Senate run-off elections on Tuesday with the control of the U.S. Senate hanging in the balance. It looks like that control will shift from the GOP to the Democrats.

The global cannabis industry has grown massively since its birth. Cannabis processing is currently being done in large factories.

The Kansas Department of Agriculture will begin accepting industrial hemp grower applications from January 8.

Up to this point, the only pathway for growing industrial hemp in the state was through a license issued under the state’s Industrial Hemp Research Program.

Governor of Kansas Laura Kelly signed the Senate Substitute for House Bill 2167, which established the state’s Commercial Industrial Hemp Program, back in April 2019. But first a plan needed to be developed and approved at a Federal level in order to comply with the requirements of the 2018 Farm Bill. Meanwhile, 2019 was the first year that hemp could be grown in the state under the 2014 Farm Bill enabled pilot. 213 growers’ licenses were issued for around 5,700 acres.

“This is just another way for a celebrity to leverage their own brand equity and to be crass to make money,” according to one industry insider.

This year, the cannabis world has welcomed so many famous people. Some decided to become part of the industry as brand ambassadors, while others launched their own brands. Musicians, actors and athletes have expressed their love for the plant.

But why now?

Was it because the stigma around cannabis has faded more than ever before? Or, was it because of industry growth, which thus presented lucrative opportunities?

The year 2020 was a dud in many, many ways due to the pandemic. However, it was a record year for the emerging cannabis industry.

Cannabis entrepreneurs around the globe sold a record amount of cannabis and cannabis-infused products.

Unfortunately, no countries legalized cannabis for adult use in 2020, but a number of countries either allowed medical cannabis industries to launch or expand.

Many cannabis industry projections from years ago focused on the year 2020 and virtually every one of those projections proved to be too conservative.