WeedLife News Network

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

Just when you thought you knew all the rules and laws that regulated legal hemp growing in the U.S. at the federal level, the United States Department of Agriculture (USDA) went and made changes to those rules. They didn’t do it to cause headaches, but rather because they listened to what the public had to say and what growers learned during the 2020 growing season.

The regulations that first came out after the 2018 Farm Bill passed into law was an interim final rule. The interim regulations were published on October 31, 2019 and laid out guidelines for hemp growers to legally register, test their plants to stay within the THC limitations and generally stay out of trouble with the law.

2 Marijuana Stocks To Watch At The End Of The Month

As the market still looks to recover investors are still looking for marijuana stocks to buy. In recent market action, marijuana stocks have been on a volatile pattern. Some of this is due to why the sectors have had trouble sustaining any upward push in trading. Yet even though some marijuana stocks are trading at lower levels does not mean all is lost. In the last year of trading, many marijuana stocks have been moving up in the market.

Cannabis is undergoing a reputation makeover. Public perception has gradually shifted to viewing marijuana products as respected medicine and wellness products instead of illegal drugs. These changes in attitudes are likely due to a variety of factors, including new legal markets and increased access, available educational materials, numerous scientific studies, and overall more significant conversations of safety and use on various media platforms and forums.

How much easier would self-checkout at grocery stores be if the entire shopping experience took place at a kiosk that takes the order and payment and then an employee handed over a cart full of groceries?

That is essentially what AUSA Corporation’s new Cocoon kiosks do for customers looking for an expedited shopping experience.

There is no doubt the cannabis industry has experienced rapid growth in the last few years. The industry has gained legalization in many locations, while other states are trying hard not to affirm it. This industry's dynamic growth sets its peak into 2021 as cannabis is gaining legalization globally, spreading its tentacles worldwide. Some factors aid the growth of this industry, helping it achieve more ground as time passes. Some of these factors are;

Rules and regulation in the States

KANSAS CITY — Knowing regulatory requirements and getting rid of unwanted tastes will prove crucial when working with cannabidiol (CBD), a hemp extract.

COVID-19 had a negative effect on sales last year, but the CBD category still shows promise. The total US hemp-based market stood at $912 million in 2020, up 0.4% from 2019, according to New Hope Network/Nutrition Business Journal, which expects sales growth to pick up in the middle of 2022 and forecasts the market to reach nearly $1.4 billion in 2023. The food and beverage category made up 0.5% of the US hemp/CBD market in 2020.

Canadian legalization of cannabis has resulted in an absolute boom in pot stocks in recent years. Indeed, this past year has been no different. Canadian-listed cannabis stocks have more than doubled from March 2020 lows.

That’s a great thing for cannabis investors looking for a move with tonnes of upside. However, some analysts believe these moves have resulted in cannabis valuations getting ahead of their valuations right now.

By 2025, Delta-8 products may triple in the market, leading to more choices in products for consumers.

Many CBD products are available today, but not many people know about Delta-8. In this article, we’ll explore Delta 8 hemp flower as well as market size, and future forecasts for the compound.

What are Delta-8 Flowers and Do They Exist?

Delta-8 Tetrahydrocannabinol is a psychoactive compound of specific molecules that are found in the cannabis plant. Delta-8 is usually found in Delta-9 (the psychoactive compound of molecules we all know, THC). Delta-8 has a slightly different “high” effect than Delta-9 THC.

See how cannabis stocks like Sundial Growers, Trulieve and Tilray performed last week after New York agreed to a deal to legalize marijuana use.

The cannabis sector was down this past week as investors turned their backs on speculative stock plays and looked at reopening stocks to buy as the U.S. gets closer to fully reopening its economy.

Cannabis stocks received a boost this past week when New York agreed to a deal to become the 16th state to legalize recreational marijuana. 

Cannabis stocks were pointing towards starting the week higher with the benchmark ETFMG Alternative Harvest ETF  (MJ) - Get Report rising after closing out Friday's session down 0.4%. Shares are down Monday.

Time to pounce?

Last week was a big one for U.S. cannabis companies, with several leading multistate operators (MSOs) posting their fourth-quarter earnings results. Three leading MSOs -- Green Thumb Industries (OTC:GTBIF), Trulieve Cannabis (OTC:TCNNF), and Cresco Labs (OTC:CRLBF) -- all beat revenue and earnings expectations handily.

Yet each cannabis stock was down for the week, some materially so. That was despite not only good company results, but also positive developments on U.S. federal and state regulations. So is the post-earnings dip a buying opportunity for these companies?

House Speaker Eileen Filler-Corn said Friday she supports moving marijuana legalization to the summer and is working with lawmakers and the governor on a possible solution.

RICHMOND, Va. (WRIC) — Virginia lawmakers are working with Gov. Ralph Northam (D) to amend the marijuana legalization bill passed in February in an effort to allow simple possession in July instead of 2024.

Virginia House Speaker Eileen Filler-Corn (D-Fairfax) tweeted Friday that she is working with her colleagues in the General Assembly and Northam to move up the timeline to July, a change advocacy groups have pushed for and believe was needed to address racial equity issues with decriminalization.

Are cannabis and technology the great equalizer in women’s representation in the C-suite? It may be too soon to know, but female executives in the Canna-tech space are nonetheless making their mark.

According to a recent white paper by The Arcview Group and National Cannabis Industry Association, only 8 percent of cannabis CEOs are women. Surprisingly (or not), this mirrors the national average of women CEOs in Fortune 500 companies (a milestone reached this year).

 New hemp production and manufacturing rules from the USDA went into effect this week.

As the industry continues to grow across the country and here in Florida, stakeholders are continuing to press for safety.

 

“So what we’re doing here is packing off our gummies,” Margaret Richardson said, as she gave Spectrum News a tour of Global Widget, a CBD manufacturing company in Tampa. 

Richardson is Global Widget’s chief compliance and legal officer.

The company’s gummies are infused with CBD and made on their own confectionery line.

Virtually every business needs access to banking services, including a bank account to put money in, checks and debit cards, and other services that banks offer.

Unfortunately, members of the cannabis industry are often locked out of receiving banking services because of cannabis’ legal status in many countries.

Nowhere is that on greater display than in the United States where state-legal cannabis companies are either prevented from gaining access to banking services in the first place or have their accounts shut down not long after they are opened.

One of the only bright spots in 2020 was the emerging cannabis industry. Whereas the ongoing global pandemic has negatively impacted virtually every other industry on earth, the legal international cannabis industry has powered forward.

According to data firm BDSA, spending on the legal cannabis industry is expected to top $20 billion in 2020, up from an estimated $14.8 billion in 2019. To put that number into perspective, the international music organization IFPI estimates that the entire global music industry is worth roughly $20 billion dollars, and unlike the music industry the cannabis industry has plenty of room for growth.

While it could take several months or more than a year for marijuana and cannabis businesses to hit the ground running on sales of the product, there’s another challenge facing the industry that will take federal legislation to resolve.

Working with a bank remains one of the challenges for the industry.

Department of Agriculture officials said that 323 farmers have applied for permits to be able to grow hemp in South Carolina.

Last year, 265 farmers grew the crop.

It was first legalized in 2018 and grown by 20 people that year.

Hemp is considered to be one of the biggest trends in the farming world with research firms estimating it to be a $20 billion industry by 2027.

This year's permits will be granted next month.

The Chicago suburb of Evanston, Illinois has green lit what many others have said they want — and should — do: make reparations to Black residents for the effects of slavery.

Product-liability cases are among the most damaging lawsuits a business can face. The cases – often involving a defective product that causes injury or even death – can be time-consuming and costly. They also can tarnish a brand’s reputation. Yet many cannabis businesses don’t take this threat as seriously as they should, experts said.

Marijuana businesses “have not given the forethought to the product-liability issue that you might see in more mature industries,” said Jesse Alderman, co-chair of the cannabis practice at Foley Hoag, an international law firm based in Boston.

Banks including Citigroup and Bank of America were happy to look the other way when customers used their credit and debit cards to buy marijuana online, said lawyers defending two men accused of defrauding banks into processing pot purchases.

“Marijuana is a big business and it’s big business for everyone involved, including the banks,” Christopher Tayback, a lawyer for Hamid Akhavan, told jurors in closing arguments following a three-week trial in Manhattan federal court.