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

Why marijuana stocks dropped on Thursday

The House passed the MORE Act -- but marijuana is still far from legal.

What happened

Less than a week after the U.S. House of Representatives voted to legalize marijuana -- for only the second time ever in history -- enthusiasm for marijuana stocks is disappearing like smoke with both the door and windows open.

Since the Marijuana Opportunity, Reinvestment, and Expungement (MORE) Act was passed, shares of Sundial Growers ( SNDL -7.58% ), Aurora Cannabis ( ACB -6.37% ), and Canopy Growth ( CGC -6.41% ) have all headed in just one direction -- down. Today marks the third straight day of selling. Here's how things stand as of 12:50 p.m. ET:

Zimbabwe tobacco industry considers switch to cannabis

The tobacco industry is watching the decline of tobacco use and the rise of cannabis globally.

In Zimbabwe, tobacco exports brought the country $794 million in 2020, down from a high of $927 million in 2016. Tobacco is the country’s third most valuable export crop after gold and nickel matte. That said, it is also facing a rather existential threat as the industry faces challenges brought about by COVID, a drought and a shift in production heading for South Africa.

In contrast, authorities are already planning for cannabis to be the country’s largest cash crop with earnings well over a billion dollars within the next five years. Last year, the country exported 30 tons of industrial hemp to Switzerland with another 20 tons due to be exported this year.

Hot cannabis seeds to grow in 2022

Three cultivation experts fill us in on what they are excited about as we enter the outdoor planting season.

Cannabis sales grow in Israel

The Lod-based company Panaxia reported increased revenues from the Israeli market for its sales of medical cannabis in 2021.

The Israeli cannabis company Panaxia released its earnings for 2021 Tuesday. 

Panaxia, which is based in the mixed Arab-Jewish city of Lod, said its net Israeli revenues increased 38% to $83.6 million, according to a press release. 

Panaxia also began exporting medical cannabis oils abroad in late 2020. Export revenues for 2020 and 2021 were $5.6 million, per the release. 

Panaxia’s stock increased by 0.45% today to 67.10 Israeli shekels ($20.94). 

Top five reasons why SuperFood Hemp is great for the environment

Hemp is often referred to as nature’s purifier. For every ton of hemp produced, 1.63 tons of carbon is removed from the air, making hemp more effective at removing carbon dioxide from the air than trees.

There are thousands of uses for its seed, oil and fiber. The North American Industrial Hemp Council estimates hemp can be used to make more than 25 thousand products including food, textiles, paper and even building materials.

Top 5 Environmental Benefits of Hemp
1.    Uses less water
2.    Prevents soil erosion
3.    Pest resistant
4.    Reduces CO2
5.    Drought tolerant

Legal states collected nearly $4 billion in legal marijuana revenue in 2021

States where weed is legal generated over $3.7 billion in cannabis tax revenue from adult-use sales in 2021—a 34% increase in revenue compared to 2020.

A new report reveals some big numbers when it comes to cannabis tax revenue generated from legal weed states, which collected more than $3.7 Billion in 2021. This is a 34% increase when compared to 2020.

The updated report, compiled by the Marijuana Policy Project (MPP) and published on Wednesday, also found that, as of March 2022, legal marijuana has earned over $11.2 Billion in tax revenue since 2014, when marijuana was first legalized in Colorado and Washington.

Tennessee's first legal cannabis restaurant is coming to Germantown this spring

Craft Cannabis founder Michael Solomon is expanding his cannabis empire with the addition of a soon-to-open restaurant.

Buds & Brews, an innovative, Germantown-based eatery on 1246 3rd Ave. N., is slated for a spring 2022 opening. Tennessee’s first cannabis bar and restaurant will have an American sports theme.

The restaurant will serveclassic meals that can be enhanced with legal, hemp-derived THC condiments that Solomon considers high-end. 

 "...our extraction process is solventless — like it’s fresh squeezed," he said.

But what does it taste like?

Using a coffee analogy, Solomon likens hemp to decaf and marijuana to its caffeinated counterpart. Condiments, which are manufactured and pre-sealed off-site, are designed to be mixed together.

A lesson in cannabis cultivation – Here's how marijuana company of America developed greater & quicker cannabis yields

The path from innocent cannabis seed to luscious marijuana bud is fraught with danger.

Almost like the main character in a video game, the marijuana seedling must successfully fight off threats in five successive levels before it’s capable of reaping the fruits – in this case, the buds – of its labor. Because of the plant’s delicateness, cannabis operators must think long and hard about the cannabis cultivation process. (Benzinga)

Mike Tyson’s ear-shaped cannabis gummies banned in Colorado — Here’s why

“Mike Bites” has already been rolled out in California, however, they will not be allowed in Colorado in their current form.

Mike Tyson, the iconic American boxer, launched a new product in March: ear-shaped edibles, in reference to his fight against Evander Holyfield in 1997. His new ear-shaped edibles, called "Mike Bites" are missing a little piece. Yes, the little piece of Holyfield's ear that Tyson took in that famous fight. "Mike Bites" has already been rolled out in California, however, they will not be allowed in Colorado in their current form. Colorado has a law banning marijuana edibles that are shaped like humans. (Benzinga)

Delta-8 THC: A boon or bane for the cannabis industry?

Op-ed: Paul Lewin explores how Delta-8 THC, a cannabinoid that is currently legal across the U.S., is impacting the legal market and the push for federal cannabis reform

Delta-8 THC is a cannabinoid considered similar to delta-9 THC — the compound typically referred to as THC — as both produce psychoactive effects, but in actuality, delta-8 is only about half as potent as delta-9 THC.

For many, delta-8 THC is considered a means to access some of the therapeutic potential of cannabis without the psychoactive effects.

First product based on research that discovered cannabinoid acids may prevent COVID-19 is here

The van Breemen Company, which seeks to deliver plant-based and natural wellness products to the consumer marketplace, has launched its first hemp-based wellness product, the Original Wellness Formula.

The news comes on the heels of the company launch by Dr. Richard van Breemen, a researcher with Oregon State's Global Hemp Innovation Center, College of Pharmacy and Linus Pauling Institute yet more famously for discovering that certain cannabinoid acids in hemp can prevent and treat coronavirus infection.

New Mexico recreational pot sales surpass $3 million in opening weekend

The cannabis business is booming in New Mexico, also known as the Land of Enchantment, with adult-use sales reaching $3,092,712 in the first weekend.

Three days and millions of dollars later, the New Mexico adult-use cannabis industry is off to a roaring start.

Local television station KOAT reports that, as of noon on Sunday, recreational pot sales in the state had eclipsed $3 million.

The station, citing state officials, said that 49,552 transactions for recreational cannabis transactions had been recorded at that time, which totaled $3,092,712.

Sales officially kicked off after midnight on Friday, when hundreds of eager customers lined up outside the dispensaries in anticipation of the historic opening.

CBD is expensive: How the industry can re-think its pricing for consumers

With lower prices, CBD can become a true alternative to Big Pharma, and cannabis can become a plant for the people.

The last two years haven’t been great for the CBD industry. The pandemic cratered in-store sales of CBD. Meanwhile, by choosing not to regulate CBD, the FDA left it in a legal gray area, limiting where it can be sold.

If you need evidence of the industry’s decline, just look at Charlotte’s Web, the largest CBD company. In mid-2019, the company’s stock price was flying high at nearly $22. Since then, it’s fallen to just over $1 — a 95% decline.

I believe there’s a way out of this mess, but most companies aren’t prepared, or willing, to see it. Let’s revisit the history of the industry to see why.

This marijuana stock has beaten Apple, Twilio, Netflix and Bank of America

Those investors who chose the specialized real-estate investment trust Power REIT to add to their portfolios some five years ago are now enjoying their high returns.

Despite COVID's negative effect on the overall economy over the past two years, industries, like pharma, e-commerce and online gaming thrived. The cannabis industry also experienced unexpected growth, with some weed-related stocks continuing to see gains. (Benzinga)

Over the last five years, Power REIT’s stock has outperformed some of the most popular stocks in the world, such as Apple, Twilio, Netflix and Bank of America. 

Investing in cannabis and its high, upside potential

 

Dan Ahrens specializes in portfolio management of highly regulated areas including cannabis and other vice-related investments. He is portfolio manager of the AdvisorShares Pure US Cannabis ETF (MSOS), the largest publicly traded cannabis fund. Dan is also the author of Investing in Cannabis: The Next Great Investment Opportunity.

Russ Prince: What is the opportunity for investors in the cannabis industry and how does AdvisorShares play a role in this opportunity?
Dan Ahrens: I see cannabis offering a growth opportunity similar to that of the alcohol industry post-prohibition. However, today, the world moves much faster and advancements in technology and science are uncovering new opportunities for uses of the cannabis plant. 

Pandemic accelerated marijuana sales but slowed alcohol purchases

Nevada’s alcohol tax collections dropped during the pandemic, though tax officials attributed that more to a lack of wholesale purchases from casinos or bars than from any surge in teetotalers. 

Even with the COVID pandemic waning, state tax officials told legislators this month that Nevadans have made what appear to be some permanent shifts in how they buy legal marijuana through pick-up and delivery modes. Understanding changes in consumer behavior is key for legislators and tax officials, who use the information to make tax revenue projections while crafting state budgets.

Marijuana sales produced $56,000 in Michigan tax revenue per store last year

As the second retail store selling marijuana and related products opened this week, the Gaylord City Council received a preview of the potential tax revenue that could be generated by the fledgling industry.

Recently, the Michigan Department of Treasury said Michigan municipalities that allow recreational marijuana sales will divide more than $42 million from the state’s marijuana regulation fund for 2021. Each municipality or county will receive about $56,400 per retailer or microbusiness. 

"All of the licenses were approved by the state through September 2021 are included in the distribution. So the city won't collect anything (from last year)," Gaylord City Manager Kim Awrey said at Monday night's council meeting.

Tilray stock: marijuana legalization is only the beginning

With cannabis legalization being discussed at the federal level, Tilray has the potential to skyrocket. Here's what the future could hold for Tilray.

annabis stocks have had an intense week. The U.S. House of Representatives has begun floor consideration of a bill to legalize cannabis at the federal level. On April 1, the full chamber is expected to vote on it.

Members of the House will have the opportunity to debate the Marijuana Opportunity, Reinvestment, and Expungement (MORE) Act, which would decriminalize marijuana, remove it from the scheduled substances list, and impose excise taxes on sales. The act was approved on March 30 by the House Rules Committee.

4Front Ventures Corp. announces definitive agreement to acquire Island Cannabis Co.

Acquisition combines premier California brand with 4Front's state-of-the-art Commerce, California manufacturing facility 

 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) ("4Front" or the "Company"), a vertically integrated, multi-state cannabis operator and retailer, today announced it has signed a definitive merger agreement on March 30, 2022 (the "Agreement") to acquire all of the issued and outstanding shares of common stock of Island Cannabis Co. ("Island").

The next phase of the Mile High marijuana industry: cannabis consumption

 

Since the implementation of recreational marijuana dispensaries after legalization, the industry has spread its roots in the Mile High City and is taking the next step.

Last year, Denver overhauled its marijuana regulations to include licenses for delivery and hospitality. As a result, you can now have marijuana delivered to your home, and some businesses are getting ready to roll out a new model: consuming cannabis in their store.

But a big part of that overhaul was to embed social equity into the application process.

“Since we opened up the applications for consumption licenses a couple months ago, we’ve seen three applications that have been submitted,” Executive Director of Denver Excise and Licenses Molly Duplechian said.


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