WeedLife News Network
Employment in cannabis pre-2020 could be seen as more of a job, whereas now, people see the industry as a true career investment.
This year was a rollercoaster ride for the cannabis industry, which had its fair share of highs and lows. There were legalization breakthroughs, while various cannabis companies enforced massive layoffs.
However, there were also those that did quite a bit of hiring.
In a year that saw record-breaking volatility, cannabis stocks were standout performers. The rapidly growing marijuana industry is beginning to mature in North America, and investors are finally getting a glimpse of what the green rush is capable of.
When investors talk about cannabis stocks, Canadian players Aurora Cannabis (NYSE:ACB) and Canopy Growth (NASDAQ:CGC) come to mind. But in 2020, U.S. cannabis companies not only proved their potential, but outperformed their Canadian counterparts. Two such companies are Illinois-based Green Thumb Industries (OTC:GTBIF) and Florida-based Trulieve Cannabis (OTC:TCNNF).
The South Carolina Department of Agriculture will accept applications for hemp farming permits for the 2021 growing season from Jan. 1 through Feb. 28, 2021.
The state's Hemp Farming Program has grown from 20 farmers in 2018 to 265 farmers in 2020 - and each year, the program has changed as state and federal laws changed. When the federal government approved South Carolina's State Hemp Plan in April 2020, the program entered a new period of regulatory stability, one that SCDA expects to continue in 2021. The agency now has six full-time staffers devoted to hemp regulation.
Requirements to receive a hemp farming permit include:
The year 2020 dawned with thousands of people lined up, some overnight, waiting to be among the first to buy legal recreational marijuana in Illinois.
As the long, strange year comes to an end, people are lined up at food banks, to get coronavirus nasal swabs and in some cases, to be among the first to receive a vaccine that may mark the beginning of the end of the COVID-19 pandemic.
And people are still buying weed. Lots of it.
Now more than ever before, brands across all industries are attuning to the fact that an in-depth understanding of their audience’s interests and lifestyles is key to robust sales and longevity. The cannabis industry posted that message loud and clear this year, with one online cannabis marketplace, Jane Technologies, Inc. (which partners with over 1,600 dispensaries and brands across 33 states), seeing online Green Wednesday profits for 2020 up 241% over 2019.
The best marijuana stocks to invest in for 2020 might actually be a surprise to some investors watching cannabis stocks. In the past year pot stocks on your December 2020 watchlist have been delivering gains for shareholders since the March crash. In fact, the American cannabis industry is going into 2021 with strong revenue growth and more expansion opportunities in states that are establishing legalization. Currently, there are 9 MSOs with market caps above $1 billion and more IPOs coming in 2021. Along with a surge of newly public companies is also the increasing mergers and acquisitions that are taking place this year and into 2021.
Seeing how Gen-Zers and Millennials account for nearly 40% of the entire cannabis market, it is critical for brands to have a deep understanding of these demographics in order to effectively grab their attention and favor. Thankfully, Headquarters (HQ) recently released a study, the HQ Cannabis Brand Affinity Report, in collaboration with The Statement Group, revealing Gen-Z and Millennial top interests, passions and values to better enable cannabis companies to elevate and amplify their marketing strategies.
Columbia Care Inc. (OTCQX: CCHWF) is buying privately-held Green Leaf Medical, LLC for approximately $240 million with the potential for additional performance-based milestone payments. Columbia will make a payment of $240 million, consisting of a cash payment of $45 million with the balance of $195 million being satisfied by the issuance of 43,900,144 common shares of the company. The deal is expected to close in the summer of 2021 and Columbia said the deal is immediately accretive.
Pests and contaminates are a given in the cultivation of cannabis, and most standards developed to control these on other agricultural products don’t apply. This is why the U.S. Pharmacopeia has stepped in to provide analytical methods and risk-based limits for the industry to help protect public health, including looking at how cannabis is grown, not just at how it hits the shelves.
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.
In 2020, cannabinoid production undoubtedly continued to steal the hemp show. According to a recent survey by market analytics firm Hemp Benchmarks, nearly 90% of growers opted to cultivate hemp either for cannabidiol (CBD) or cannabigerol (CBG).
But excitement has been simmering for another segment of the hemp market: hemp fiber.
With the potential to produce both bast and hurd that can be the basis for thousands of products, hemp fiber holds tremendous promise for the industry, and it’s where many industry leaders believe the future of hemp lies in the long-term.
It's been a crazy year on Wall Street. Investors only have eyes for the unrelenting rally in and growth prospects of tech stocks. But they might be overlooking an even greater growth story: marijuana stocks.
Though cannabis stocks have been on a wild ride of their own over the last five to seven years, we're beginning to see the first signs of industry maturation. In October 2018, Canada became the first industrialized country in the world to roll out the green carpet for recreational marijuana sales.
On December 11, 2020, the Arizona Department of Health Services (the “Department”) released proposed regulations for adult use marijuana. Click HERE to review the proposed regulations. This post will discuss some of the licensing and operational issues for adult use marijuana establishments. Overall, we like what we are seeing so far.
They say that “Necessity is the mother of invention.”
I would like to add a corollary to that adage.
How about: “Cannabis is the mother of innovation”?
Cannabis has been sparking invention and innovation since before the first stoner looked in the fridge and created a salty, sweet, savory snack from whatever disparate ingredients were found therein.
The harvest was glorious, mellow and abundant. It was sunny and mostly warm up until the first week of November, when forecasts of the first rain and then a hard frost mandated that we cut the final cultivar a few days early.
Other than the unfortunate farms that burned and lost their whole crops, and some other growers in the immediate area who were smoked out, the 2020 California sungrown cannabis crop doesn’t seem to have suffered much testable damage.
Photo Nikki Lastreto
Medical marijuana sales in Arkansas have hit a significant milestone a little more than a year after the first dispensaries in the state began serving customers.
Local news outlets in the Natural State reported that medical cannabis sales in Arkansas have officially eclipsed $200 million, with patients purchasing more than 15 tons of product.
Holiday festivities have been curtailed by the global resurgence of the COVID-19 pandemic, and its unprecedented social and economic effects. During this turbulent season, cannabis companies all over North America continue to do what they can to support local charities and populations in need.
So, let this 2020 holiday season be lit with the warmth of giving. Here’s a short list of holiday fundraising activities led by cannabis industry members, bringing happiness and help to so many for the season as we all look forward to a new year in 2021: