WeedLife News Network
As the recreational marijuana industry expands and matures, branding will be a vital strategy for companies vying for market share. Companies that build identities that resonate with consumers while fulfilling their needs will continue to grow – even once the industry’s rapid expansion eventually slows. Building brands that connect to buyers takes time. But that work is already paying off for some companies in California, Colorado and Washington state.
Nearly a decade ago, Linda Greene was having dinner with some of her friends when she heard that marijuana had been legalized for medicinal use in Washington, D.C. Having lived through the 1960s counterculture, she saw an opportunity.
Greene opened Anacostia Organics in 2019. The push to open the medicinal marijuana dispensary began after Greene saw that of the 15 original cultivator and dispensary licenses issued by the district’s Department of Health, none had been awarded to residents of the U.S. capital, and only two had been awarded to people of color.
Top Cannabis Stocks In 2021
In 2021 marijuana stocks and the cannabis market have continued to show investors the growth potential in the sector. With most leading cannabis companies reporting significant revenue growth in 2020 and guidance for 2021 showing higher revenue the industry is expanding rapidly. In general, top cannabis stocks have shown some upward momentum so far in May. Next week many leading cannabis companies will report first-quarter 2021 earnings, and this could be a catalyst for the cannabis sector.
Ultimately, you want to make a “black market competitive weed” where the price maybe is elevated due to regulatory costs, but still very accessible to blue-collar consumers.
There is a reason why roughly 80-90% of the weed purchased in Canada is still from the black market — price.
When cannabis was illegal, it was one of the cheapest drugs available on the planet. In fact, in “Walk Hard: The Dewey Cox Story,” they poke fun at how “not dangerous” it really is.
Of course, when it was illegal it didn’t have the sophisticated processes of cultivation like we have today in the legal market. It also didn’t have all of the strict regulation which elevates the cost to consumer.
Oregon businesses growing and selling cannabis want the ability to sell their product to people in other states, but until the federal law changes making marijuana legal, Gov. Kate Brown says her hands are tied, according to the Portland Business Journal.
Sixteen states and Washington, D.C., have legalized the sale and use of marijuana for recreational purposes, and 36 allow medical marijuana use. But under federal law, marijuana remains listed as an illegal drug like heroin, LSD, and ecstasy.
Cannabis compliance for licensees is finally emerging from the shadows into the forefront as regulators move from the application phase to the operational phase.
In performing Freedom of Information Act (FOIA) requests and reviewing online compliance audit reports and letters to licensees, there are a number of specific issues regulators are required to review, but the majority of warning letters and flagged inspection reports show only a handful of cited issues for the vast majority.
Cannabis business owners seeking to sell their operations on the secondary market are sitting in the catbird seat, experts say. Multistate operators wishing to expand their footprints are fueling demand, as are investors entering the market anticipating federal marijuana reform.
“With $1.6 billion in capital raised in January alone, public cannabis companies now have a lot of cash on their books, so I think we are going to see a lot of mergers and acquisitions this year,” said Charles Alovisetti, a partner at Denver-based cannabis law firm Vicente Sederberg.
Will Marijuana Stocks Continue To Rise This Month?
California’s Siskiyou County has identified a novel way to evaporate the growing number of illegal cannabis farms sprouting up in a state that seems to forever be on the brink of drought: restrict where water trucks can go.
Along a hot, dusty stretch of freeway in California's Coachella Valley, a green rush is booming that not even the coronavirus pandemic can slow.
Desert Hot Springs, once a sleepy retirement community overshadowed by its more glamorous neighbor, Palm Springs, to the south, is transforming into a cannabis-growing capital as businesses lured by tax incentives and a 420-friendly local government pour into the small city.
"It's fun times right now to be the mayor," said Mayor Scott Matas, who has been in city government since 2007 and once voted to implement a moratorium on cannabis businesses.
Tracking cannabis from the farm to the dispensary is important to the safety of the entire marketplace. How to do it, however, has left many supply chain experts dazed and confused. But Applied DNA Sciences, a company that creates molecular tagging technology for supply chain security, anti-counterfeiting, and anti-theft technology, has an answer—at least a portion of it.
Since 1985, China has classified marijuana as a dangerous narcotic and possession of hemp seeds is illegal despite the country being the world’s biggest growerCBD skincare and beauty products are trending globally, and Chinese millennials are keen for organic ingredients currently banned at home – will things change?
In the US state of Massachusetts, protected farmland can now be utilised for growing cannabis.
Massachusetts’ Agricultural Preservation Restriction (APR) Program, established in the 1970’s, is a voluntary program that pays owners of farmland the difference between the “fair market value” and the “agricultural value” of their land in exchange for a permanent deed restriction protecting it for future agricultural use. This prevents it from being built on by development companies for non-agricultural purposes.
Landowners with at least five acres of land with suitable soils that have been in agricultural production for the last two years can apply for the program – and there are restrictions as to what can be grown on the land from the point of being accepted.
Destigmatizing and legalizing cannabis are certainly positives for the industry, but it’s not just an increase in retail sales fueling the sector’s boom. Venture capital investors and businesses formerly agnostic (or even opposed to cannabis) now are pouring money into the industry, fueling much of the growth. With that, many long-term cannabis (and hemp) entrepreneurs are looking to parlay their experience and expertise in the field into profitable businesses.
Marijuana is big business. Millions of users spend billions of dollars on it every year. As it becomes legalized in more and more states — some 15 currently permit its personal purchase, possession, and use, with at least two more scheduled to join them this summer — those states will want a share of the revenue. (As of now, these are the 15 states where marijuana is legal.)
How much do they stand to realize? 24/7 Wall St. ranked all 50 states based on how much excise tax revenue they can potentially generate from legalized marijuana sales.
The cannabis space has been less than diverse since its onset as an “industry.” Even behind the scenes, there aren’t too many minorities. During the Winter Emerge 2020 Virtual Cannabis Conference, one panel highlighting diverse voices in cannabis was “Multicultural Experiences in Technology Innovation,” moderated by Sohum J. Shah.
Shah is the founder and CEO of Durban Creative Media, a cannabis consultant, and the founder of the Cannabis Commodities Exchange. Other panelists included Solanje Burnett, Rob Tankson, Andy Singh, and Seibo Shen.
Cannabis and education
When discussing the need for education about the actual effects and benefits of cannabis, Solanje Burnett was quick to add her insights.
There are two key things you should know about the cannabis industry, particularly in the U.S. First, it's still only in its early innings. Second, the potential market is huge. Those happen to be two characteristics that bode well for long-term investors.
Some cannabis companies are in especially strong positions to succeed -- and deliver great returns along the way. Here are three of the best marijuana stocks to buy in May.
In this article, we explore the advantages of investing in the cannabis industry and the precautions one must take.
We also take a look at the challenges investors may face, including how to market their cannabis-based product.
There are nearly 800 strains of cannabis available on the legal market, with more being cultivated all the time. On top of that, there are countless formulations of edibles, tinctures and other cannabis products.
Like the wine industry, cannabis is a complicated market for consumers. In the wine industry, sommeliers guide consumers into making choices based on region, vintage and other attributes. Cannabis is primed for a similar approach, but not nearly enough dispensaries are staffed with the sort of experts to provide it.