CHICAGO, Nov. 28, 2017 /Weed Wire/ — Illinois could see up to $699 million in new revenue by legalizing cannabis use among adults through a measure that would spur economic development while protecting public safety. Lawmakers heard from advocates today during a combined Senate and House hearing.
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In February 2015, Alaska became one of the first states to legalize recreational marijuana with a 53% vote in favor of the drug. Even though cannabis was made legal in the state, it took another year for Alaska to approve cannabis retail stores and manufacturers. Now, since the state has approved full legalization, the industry has grown, affecting Alaska’s economy in a number of ways.
California cannabis entrepreneurs will earn $5.2B in revenue in 2018 as recreational use becomes legal there. The state of California will collect about one billion dollars in accompanying marijuana taxes.
At one point, MassRoots was flying high, raising millions of dollars from investors and attempting to become the first cannabis company listed on the Nasdaq.
Canadian Prime Minister Justin Trudeau introduced legislation to legalize recreational marijuana throughout the country, which plans to be in effect on Canada Day (July 1) 2018. Now, many experts have predictions for the Canadian marijuana economy as a result of the cannabis industry becoming legal.
Alaska’s cannabis tax revenue continued a steady climb upward in September, with $723,757 collected statewide, according to a state official.
The stock of MedReleaf Corp. has recently outperformed those of other top marijuana stock players in Canada, and there could be further price gains going forward after the recently listed cannabis firm has found its footing and stopped the earlier quarterly revenue declines.
ALBUQUERQUE, N.M., Oct. 4, 2017 /Weed Wire/ — Ultra Health, New Mexico’s #1 Cannabis Company, achieved $1.1 million in sales for the month of September 2017, the highest single month revenue ever recorded by a New Mexico cannabis provider.
Most interviews with Cam Battley — Aurora Cannabis Inc.’s zealous executive vice-president — inevitably yield considerable enthusiasm about the company’s outlook.
Recreational cannabis is a $6 billion industry that is projected to reach $50 billion in legal annual sales by 2026. Here’s what you need to know if you’re thinking of investing in marijuana.
VANCOUVER, Aug. 31, 2017 /Weed Wire/ – Aurora Cannabis Inc. (“Aurora” or the “Company”) (TSX: ACB) (OTCQX: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) is pleased to provide the following operational update.
There has been a lot of news in the marijuana industry this year. The medical marijuana industry exploded, and many new companies came to market in a frenzy, which reminded investors of the exciting technology bubble.
Israel’s Finance and Health ministries approved a medical marijuana export plan that looks to increase annual revenue from $1 billion to $4 billion as the government-supervised program seeks to brand and market its pot products internationally.
Marijuana sales in Colorado, the first state in the nation to legalize recreational weed, surpassed $750 million during the first half of 2017, up about 25 percent compared to the first six months of 2016.
When GW Pharmaceuticals announced its fiscal third-quarter results on Monday, the company provided plenty of information about its performance during the quarter. However, it wasn’t any of the numbers in the update that caused this decline. Instead, one word caused investors’ disappointment.
For many weed stocks, the summer of 2017 hasn’t been what you’d call a scorcher. However, three marijuana stocks have sizzled this summer.
Jesus Aponte pushes a door open to reveal hundreds of aromatic, spiky green plants, a crop that Puerto Rico hopes will help it ease a grinding economic crisis by generating millions in revenue and tens of thousands of jobs.
Insys Therapeutics is one of several biotechs developing cannabinoid drugs. Unlike most of these other companies, though, Insys has already won regulatory approval for its first cannabinoid — Syndros.
Alaska’s marijuana industry has brought in more than $1 million in tax revenue since commercial sales began in October.
The results for Canopy Growth’s stock have been terrific so far, yielding a return of over 152% since inception. The stock has been performing well despite lacklustre results and frequent losses.
The partygoers of Sin City will soon be given the opportunity to indulge in recreational marijuana this Saturday. On July 1, 2017, Nevada recreational marijuana sales will commence as dispensaries will have the green light to sell to adults.
On July 1, 2017, Nevada will legalize the use and sale of recreational marijuana, which could be a catalyst for long-term gains for three cannabis stocks.
Oh, how the mighty have fallen. Shares of Canopy Growth Corp. have dropped by over $6 a share, or 47.5%, since the middle of February.
It is apparent that Aphria Inc. will be one of the major winners among marijuana companies. The timing of when to buy shares might be a bit tougher, though.
If there is a “Holy Grail” milestone out there for cannabis stocks, it’s the $1 billion sales mark. The first cannabis company to hit $1 billion in sales will likely validate the industry to Wall Street and investors. But which marijuana stock has the best chance at being first to $1 billion in annual sales?
As public support for legalization rises, policymakers are left to figure out the proper way to handle marijuana taxes if their state follows the trend.
Aurora Cannabis Inc. has been a favourite marijuana stock for some time. Should you be watching closely for an opportunity to buy the dip?
City Council could roll back a moratorium on cultivation of marijuana for medical purposes, a step viewed as necessary to avoid shutting Cleveland out of potentially lucrative tax gains.
Connecticut lawmakers are questioning if legal marijuana is the best option in fixing the New England state’s current budget crisis.
Investors envision Adelanto bustling with marijuana-related businesses. As Mayor Richard Kerr says, the city will be the “Silicon Valley of medical marijuana.”
In a Connecticut budget bill introduced on May 16, 2017, Democrats included legalizing, regulating and taxing recreational marijuana. According to the Marijuana Policy Project, the proposal would allow adults 21 and older to buy marijuana from dispensaries.
The Scotts Miracle-Gro Company has positioned itself to benefit from the rising support for marijuana without directly cultivating the plant itself, so as to avoid any legal repercussions.
DOVER, Del., May 10, 2017 /Weed Wire/ — The Delaware House Revenue and Finance Committee approved a bill Wednesday (9-2) that would make marijuana legal for adults and regulate it similarly to alcohol. HB 110, also known as the Delaware Marijuana Control Act, will now be considered by the full House of Representatives.
SYDNEY, Australia, May 9, 2017 /Weed Wire/ – The Hydroponics Company Limited (ASX: THC) is pleased to announce that first quarter revenue in its wholly owned subsidiary CMDV (Crystal Mountain (Canada)/Dragon Vision (Hong Kong)) increased by more than 22% year-on-year to over $1.11m.
Marijuana stocks are extremely risky. But, if things go right for these pot stocks over the next two to three years, they could be a steal for investors.
On May 3, 2017, the Illinois Medical Cannabis Pilot Program reported that it raked in just over $6.6 million in retail medical marijuana sales for the month of April, a slight increase of $300,000 from the $6.3 million in sales for the month of March.
Western Massachusetts sheriff’s want the state to use marijuana tax revenues to help combat the state’s deadly opioid addiction crisis. The bill under consideration would impose a 17% tax on marijuana.
In honor of 4/20, The Daily Show host, Trevor Noah, breaks down how Attorney General Jeff Sessions is ramping up enforcement of marijuana laws and makes the case that President Trump is always high.
LAS VEGAS, April 20, 2017 /Weed Wire/ — Freedom Leaf, Inc. (OTC PINK: FRLF) today announced Mr. Charles Grigsby, CPA, ABV, CFF, CITP, CMAA, MAFF, CFE has signed a two year executive employment contract with Freedom Leaf, Inc. as its new Chief Financial Officer (CFO).
In an interview with Yahoo News and Finance Anchor Bianna Golodryga, former Rep. Patrick Kennedy, D-R.I. claims lobbyists for marijuana legalization are attempting to sell Americans on a “Trojan horse.” Should members of the legal marijuana industry be concerned about Kennedy’s argument gaining momentum?
CityNews reporter Shauna Hunt takes a look at the impact marijuana legalization will have on the city of Toronto.
SPRINGFIELD, Ill., April 12, 2017 /Weed Wire/ — At a press conference today, State Senator Heather Steans (D-Chicago) and State Representative Kelly Cassidy (D-Chicago) announced plans to hold the first subject matter hearing on the topic at 12 p.m. Wednesday, April 19, in the Bilandic building.
According to the Medical Marijuana Trust Fund Annual Report, issued by the Massachusetts Department of Public Health for fiscal year 2016, the state collected approximately $7.2 million in revenue from its medical marijuana program.
SAINT PETERSBURG, April 10, 2017 /Weed Wire/ — HempTech Corp. (OTC PINK: HTCO), a provider of advanced Controlled Environment Agriculture (CEA) with sophisticated automation and analytical tools for the cultivators of legal industrial hemp and marijuana, announces today that it has experienced exceptional growth in corporate performance and sales in 2016, which has materialized broadly in the first quarter 2017.
On Tuesday, the City Council passed two ordinances relating to marijuana manufacturing and testing businesses. Business owners will be able to apply for a permit beginning May 4.
On April 5, 2017, the Illinois Medical Cannabis Pilot Program announced that it brought in approximately $6.3 million in retail medical marijuana sales for the month of March, a nearly $2 million surge from the $4.9 million in sales for the month of February.
While the potential market is huge, there’s just one problem. All of Canada’s marijuana stocks are so expensive that no valuation-based investor will touch them. Fortunately, there are ways investors can have their cake and eat it too. All you need to do is identify industries that will get a nice bump from legal pot.
Israel, a leader in marijuana research and health technology, is attracting international investment as it tries to position itself as a cutting-edge exporter in the rapidly-growing market for medical-grade cannabis.
CHICAGO, March 23, 2017 /Weed Wire/ — Senator Heather Steans (D-Chicago) seeks to create a new revenue source for the State of Illinois by legalizing and taxing recreational marijuana. Senate Bill 316 legalizes the possession of up to 28 grams of marijuana and will allow facilities to sell marijuana products.
Regulate Rhode Island’s report suggests that legalizing marijuana will create new jobs and bring in tax revenue for the state.