WeedLife News Network

Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) reported first-quarter fiscal 2021 net revenue increased 22% to $110 million.

But first, we need to do these 5 things.

Billions of dollars are sitting at the doorstep of Capitol Hill, begging to participate in the economy. But with some wise moves by the Federal government and regulatory agencies, cannabis-generated revenue could be a significant answer to our financial crisis stemming from the pandemic. 

For proof, look at the numbers. In 2019, the cannabis industry generated $629.3 million in tax revenue. Thirty-three thousand jobs were added in the United States, bringing the total to 250,000 jobs. The federal legalization of marijuana would create more jobs, provide potential breakthrough medical advancements, and possibly help reverse social injustice.

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) stock fell over 13% to lately trade at $6.03 after the company reported a net loss for the second quarter of $107 million versus last year’s earnings of $185 million for the same time period. The loss of $0.31 cents per share was worse than the FactSet estimate for a loss of $0.07 per share.

s legal cannabis markets continue to expand rapidly across the globe, Canada is uniquely positioned to develop international safety guidelines for the emerging industry.

On Tuesday, safety science consultant firm UL said it has teamed up with the Standards Council of Canada to host a workshop to address the safety, security and sustainability of the global legal weed industry.

The workshop will kick off in November and cover three distinct areas:

Arkansas-based beer distributor Premium Brands of Northwest Arkansas is adding a hemp beverage to its lineup.

Banking institutions and accountants offering services to cannabis businesses would have a safe harbor in California law under one of the weed-related bills awaiting state lawmakers’ action when they return to Sacramento this week.

One measure (A.B. 1525) says financial services, including public accounting firms, don’t commit a crime under any California law “solely by virtue of the fact that the person receiving the benefit of any of those services engages in commercial cannabis activity as a licensee” under state law.

If you think the stock market has gone for a wild ride over the past five months, take a closer look at how marijuana stocks have performed over the past couple of years.

Through the first quarter of 2019, investors could have thrown a dart while blindfolded at a list of publicly traded pot stocks and had a good shot at landing a triple-digit return. With tens of billions of dollars in black market weed sales conducted each year, the prospect of steadily moving these sales to legal channels proved more than enough to excite investors.

New Factors Could Help to Push The Cannabis Industry Forward

How This Summer Could Continue to Push the Boundaries of Pot Stock Growth

The first (legal) industrial hemp crop to be planted in the U.S. state of Louisiana in modern times is being severely impacted by a fungal disease.

What was one the USA’s hemp holdout states finally jumped on the nation’s industrial hemp revival bandwagon in June last year when Louisiana Governor John Bel Edwards signed off on legislation recognising the crop as an agricultural commodity and authorising its cultivation, processing, and transportation.

This first successful export of hemp seed from Australia to New Zealand recently occurred under new legislation removing some roadblocks to Australia’s hemp and medicinal cannabis sectors.

There wasn’t any further detail on the nature of the export – for example if it was hulled seed, raw seed for food purposes or seed for planting – or the company involved, but it marked another step forward for the nation’s hemp industry.

While the healthcare sector is fighting to reach the finish line of finding a cure for coronavirus and putting an end to the worldwide misery it causes, cannabis is proving relief to people dealing with this crisis. This has put the cannabis sector in the limelight again -- not only highlighting the medical benefits of marijuana, but also giving an idea about the potential of this sector.

Tasmanian Institute of Agriculture (TIA) researchers are investigating hemp’s potential as a dual-use crop – sheep fodder as well as seed.

The research, led by Dr Beth Penrose, will occur over two years and involve trial sites established at TIA’s Forthside research facility situated on Tasmania’s north-west coast  and a commercial property near Cressy, which is around 35 kilometres south-west of Launceston.

Ergonomics and the associated employer requirements to maintain safe workplaces, especially in industries where repetitive motion injuries are common, are at the forefront of modern claim prevention. However, the legal cannabis industry could be especially vulnerable.

As a legalization shift sweeps the nation, responsible cannabis growers in California are uniquely positioned to lead the way, while others either comply or face hefty penalties.

How the Cannabis Industry can Continue to Benefit America

Analysts are projecting that the U.S. cannabis industry could add as much as $130 billion into the economy within the next half-decade. This may seem like a lot, but given where marijuana stocks have already taken the market, it begins to make more sense. A new study showed that cannabis sales alone have shot up to around $50 billion as of last year.

It was already an assumption that Canada was going to have a booming, country-wide cannabis market through their legal industry, but now the numbers prove that that assumption is a reality. Retail sales reached $185.9 million Canadian dollars this past May, according to Statistics Canada. 

There will be plenty of footsy going on between the United Soccer League (USL) and CBD hemp brand Synchronicity as part of a new four-year sponsorship deal.

Functional Remedies, makers of the full-spectrum hemp oil brand, can look forward to seeing the products featured on USL stadium signage, social media channels, website and app network, according to Ganjapreneur.