New York cannabis regulators vote to allow multistate operators into the market
New York's adult-use cannabis market is set to expand with the addition of multi-state operators
The New York Cannabis Control Board voted Tuesday to allow non-social equity applicants to apply for licenses to cultivate, manufacture, and sell adult-use cannabis.
This would allow major medical marijuana companies in the state such as Acreage Holdings Inc. (CSE:ACRG), Curaleaf Hldgs Inc. (CSE:CURA, OTCQX:CURLF), Columbia Care Inc (CSE:CCHW, OTCQX:CCHWF, NEO:CCHW) and Cresco Labs Inc. (CSE:CL, OTCQX:CRLBF) to enter a market currently flush with illegal dispensaries and a small number of smaller, legal entrepreneurs.
When New York legalized marijuana in March 2021, the state restricted who could apply for licenses to those who had prior marijuana convictions and were involved in the war on drugs prior to legalization.
Licenses were distributed through the Conditional Adult-Use Retail Dispensary (CAURD) program, but the program faced legal challenges from medical marijuana companies that stunted the growth of the legal market.
In its place, thousands of illegal dispensaries popped up.
Now, multistate operators will be able to access one of the largest cannabis markets on the East Coast, which analysts expect to reach $7.07 billion by 2025.
Regulators will accept applications for retail or microbusiness licenses from October 4 through December 23.
Meanwhile, many social equity applicants still haven’t been able to open their businesses due to delays and legal issues regarding the CAURD program.
Shares of Acreage Holdings stock swooned more than 15%, while Cresco Labs stock dipped over 3%. Curaleaf and Columbia Care shares fell 0.8% each.
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¿Article is over 2 years old?!!!!!
United states citizens should and will never stand for that
Congressional Lawmakers Tell DEA To Keep Marijuana In Schedule I And ‘Reject’ Top Health Agency’s Recommendation
Your posts have no true/fact based cannabis news and all you got is speculation, I am a legal Canadian grower and will tell you not 1`government wants or will allow open advertising of weed, you should research Canada's Regulations and continued too prohibit and ban cannabis so strictly that is driving consumers back too old sources and newly licensed private companies. You are only going too lose your investment again, US already has a supply chain and state retail they will be the ones collecting licenses.
Compliance With Cannabis Act Regulations Regarding Online Promotion Among Canadian Commercial Cannabis-Licensed Firms
We are having a great time.
Best to keep looking for revenues… that’s what matters in my capitalist world.
Sales numbers without net revenues means nothing.
Unless one is a : Communist
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Tilray & Crappy Growth have bigsales!
New Mexico Sets New Marijuana Sales Record, With $48 Million In Purchases In August
New Mexico set a new record for marijuana sales in August, with more than $48 million in combined medical and adult-use cannabis purchases, state data shows.
The New Mexico Regulation & Licensing Department’s (NMRLD) cannabis reporting portal shows $34,707,557 in recreational marijuana sales and $13,525,500 from medical cannabis last month, for a total of $48,233,057.
Those numbers come from 1,095,922 marijuana transactions at the state’s 1,021 licensed retailers.
All told, patients and adult consumers have made almost $724 million in combined medical and recreational cannabis purchases since each program launched. Gov. Michelle Lujan Grisham (D) touted the industry’s sales figures, as well as the job creation associated with legalization, back in April.
The governor didn’t say whether she participated in the adult-use market in its first year by making any purchases, but she didn’t rule it out last year during a visit to a cannabis retailer on opening day.
New Mexico is one of multiple states that’s seen record-breaking surges in marijuana sales this summer.
For example, Connecticut also broke another marijuana sales record in August, with $25 million worth of medical and adult-use cannabis purchases, state data shows.
In Maine, marijuana sales also reached a record high in August, with nearly $22 million worth of purchases, according to recent data from the state Office of Cannabis Policy (OCP).
Massachusetts retailers have now sold more than $5 billion in adult-use marijuana since the state’s recreational market launched five years ago, the state reported last week. Sales reached $139.3 million in August alone, with the year-to-date total at $1.05 billion within the first eight months of 2023.
In Maryland, officials recently announced that the the state broke anther marijuana sales record last month, with nearly $92 million worth of cannabis products sold during the state’s second month of legal adult-use sales.
Illinois retailers sold $140 million worth of recreational marijuana products in July—the strongest sales of the year and second highest monthly total for the state since the adult-use market launched in 2020.
Michigan marijuana sales reached yet another record high in July, with nearly $277 million worth of cannabis sold.
Missouri retailers have been selling about $4 million worth of marijuana per day on average since the state’s adult-use market opened up in February—and the state saw a record $121.2 million in cannabis purchases in June.
Banking in China is the way to go.
They will learn!
You will make some folks jealous… lol
Emotion runs high when suckers 🩸.
Tell me about it.
HHS recommendation could see new era in Cannabis advertising
Emerging Avenues in Advertising for Cannabis.
The US Department of Health and Human Services has recommended reclassifying marijuana as a lower-risk drug, which would in turn ease restrictions. While this new Schedule III recommendation holds a myriad of implications including banking and tax codes, a standout beneficiary will be the domain of advertising. With barriers lifting, advertising platforms and strategies for cannabis (and CBD) enterprises are set to revolutionise.
As federal restrictions around this category ease, the media world, once apprehensive about cannabis advertising, should see a renaissance. Previously off-limits platforms will likely open up, enabling cannabis companies to step out of the shadows and establish themselves in the mainstream market.
A few reasons why it will be crucial for CBD and cannabis brands to work with reputable adtech partners that are versed in this industry:
Harnessing the Power of Streaming: With audiences transitioning from linear to streaming TV, it’s becoming essential for brands to meet consumers where they are. These cannabis companies need to understand that modern viewers, especially the younger demographics, never had a “cord to cut” in the first place! Being present on platforms like connected TV (CTV), over the top (OTT) and online video isn’t just about being trendy; it’s about being where your consumers are and educating them about these products.
Innovative Measurement and Integration Tools: In the modern age, data isn’t just power; it’s insight, foresight, and strategy all rolled into one. Brands that leverage comprehensive measurement tools stand to gain a deeper understanding of their campaigns’ impact. For instance, being able to measure sales lift directly from a campaign can offer invaluable insights. Strategic integrations related to measurement and shoppability of ads further amplify the power of ongoing campaign optimization and immediate return. This not only streamlines the customer journey but also fosters immediate conversion, enhancing overall consideration and purchase intent.
Staying Compliant: The world of cannabis, given its tumultuous history, is rife with legal intricacies. For these cannabis companies navigating these complexities can be daunting. It’s crucial to prioritize compliance and stay abreast of the latest guidelines, especially from agencies like the FDA. A slip-up here can damage brand reputation. This is where being in tune with the legal side is invaluable. It’s important that advertising partners understand all sides of the industry to ensure brand safety and best practices.
Building Bridges with Publishers: In an evolving landscape, not all players are equal. Building relationships with forward-thinking publishers can be the differentiating factor in a brand’s advertising success. Publishers who understand and are excited about the cannabis industry can offer avenues and insights that others can’t. That’s where a managed service partner can help open doors that others may not be able to. As cannabis brands start to embrace advertising, its critical to find trusted partners who reach the right audience, in the right way, with the right message.
In essence, the cannabis industry stands at the cusp of an advertising revolution. As the barriers slowly fall away (or show promising momentum that direction), brands have an unprecedented opportunity to redefine their public persona and bring in new customers.
HHS Recommends that Marijuana be Reclassified as Schedule III Controlled Substance
On August 29, 2023, the U.S. Department of Health and Human Services (“HHS”) recommended to the Drug Enforcement Administration (“DEA”) that marijuana be reclassified from a Schedule I controlled substance to a Schedule III controlled substance. Reclassification in this manner, should the DEA choose to follow this recommendation, could have profound implications on the marijuana industry, medical research, tax and banking, and criminal enforcement.
Currently, marijuana and the active chemical THC (except as derived from hemp) are classified as Schedule I controlled substances, along with heroin, ecstasy, and LSD. Under federal law, this means that controlled substances have “a high potential for abuse,” “no currently accepted medical use in treatment in the United States,” and that there “is a lack of accepted safety for use of the drug or other substance under medical supervision.” However, 38 states have passed legislation allowing for some form of medical use of marijuana and 23 states have legalized recreational use of marijuana. These state laws all conflict with the current federal law, which is one reason why HHS was tasked with providing a scheduling recommendation to the DEA.
Should the DEA reschedule marijuana as a Schedule III drug, it would remain illegal under federal law, but it would be a recognition that marijuana has a “potential for abuse less” than Schedule I and II drugs and “has a currently accepted medical use in treatment in the United States.” In general, rescheduling marijuana to Schedule III opens the door for it to be an FDA-approved drug, like ketamine or Suboxone®, that are only legally available with a valid prescription.
Reclassification would also ease restrictions on medical research and would help legitimize the marijuana industry on a national level. For over 50 years, the Schedule I designation has created a “Catch-22” by preventing the very medical research that could support an acceptable medical purpose. However, HHS now recognizes—following its consideration of a “scientific and medical evaluation” of marijuana under its statutorily mandated eight-factor analysis—that there is evidence to support marijuana’s use for medical treatment, despite finding in 2016 that it should remain Schedule I. Not only was HHS required to make binding findings on the DEA of a legitimate medical use, but also a substance’s abuse potential and safety or dependence liability. Ultimately, the DEA has the final authority to schedule or reschedule a drug under the Controlled Substances Act. Now the DEA—which is oftentimes much stricter than HHS—will consider HHS’ recommendations and “all other relevant data” under its five-part test to determine whether marijuana has a “currently accepted medical use” and there is “substantial evidence” to warrant its transfer to Schedule III. The last time the DEA conducted such a review it took over two years, and ultimately resulted in marijuana remaining a Schedule I.
If the DEA reschedules marijuana, it will likely take some time as the Administrative Procedure Act rulemaking process and proceedings are complex and time-consuming. The DEA would first publish a proposed rule with HHS’ and the DEA’s summarized analyses and conclusions, which would open up the notice and comment period. Once the comment period was complete, the DEA would review the submitted comments and issue a final rule. On the other hand, the DEA may issue a final rule without the notice and comment period. Moreover, any final rule would be subject to challenge in court. Accordingly, the path and timeline to reach Schedule III reclassification is not certain.
In addition, the federal tax code currently prohibits deductions or credits for businesses that consist of “trafficking in controlled substances (within the meaning of schedule I and II of the Controlled Substances Act).” This means that businesses in the cannabis industry, even though legalized on a state level, cannot claim the same business deductions as non-cannabis businesses on their federal taxes, resulting in significantly higher tax burdens for these companies. Should marijuana be rescheduled as a Schedule III drug, Section 280E would no longer apply and cannabis businesses could claim the normal business deductions. The change could also have far-reaching impacts on banking and finance for the cannabis industry, such as allowing for increased investment opportunities on national stock exchanges, making bankruptcy protections available, and potentially permitting foreign companies the ability to sell their products in the United States.
While it remains to be seen how the DEA will take the scheduling recommendation, it appears that the medical data, as relied on by HHS, supports loosening legal restrictions on a federal level. The DEA’s review is just beginning and we look forward to monitoring the process as it proceeds.
Ya right. I can make up #s after the fact as well
1) stage 1.
short - $0.64
cover - $0.70
invest . - $ 218540 (341468 shares )
loss - 0.09375 % = $20488
cover ( buy ) - $0.70
sell - $2.32
gain - $1.62/share
profit - $ 553178 ---- one of the best in my life
Shares in Canadian Marijuana Firm Canopy Growth Nearly Double in One-Day Surge
Investors in cannabis companies appear optimistic that US officials will no longer classify pot in the same category as heroin
Shares of Canopy Growth soared more than 81% on Monday to close at $1.69, as investors bet that the Ontario-based company will get good news from U.S. regulators on drug classifications.
The cannabis company's stock has tripled in the two weeks since U.S. officials asked the U.S. Drug Enforcement Agency to ease its classifications of marijuana.
Investors appear to be wagering that the request will result in a ruling that's positive for pot companies. Canopy Growth shares are still far below their record high of more than $51 in 2018, and had been in penny stock territory since May.
Other cannabis companies also saw gains Monday. Edmonton, Canada-based Aurora Cannabis shares jumped 72%, while New Tilray Brands in New York saw a nearly 10% bump.
On Aug. 29, the U.S. Department of Health and Human Services asked the DEA to reclassify pot as a Schedule III drug under the Controlled Substance Act. Marijuana is currently classified as Schedule I drug, on par with heroin.
The reclassification would treat marijuana as a medication with "a moderate to low potential for physical and psychological dependence."
Among marijuana companies, "Canopy Growth is the most likely to benefit because of its options for the U.S. assets it seeks to consolidate under Canopy USA," Morningstar strategist Kristoffer Inton wrote last month.
Currently, Canopy Growth Corp has an average recommendation of "Hold" based on 11.00 analysts according to Zacks. Currently, there are 1 buy ratings, 4 sell ratings and 6 hold ratings for the stock.
so far , investors do not follow recommendation ...
You are a pro!
What is your favorite Tilray's strain?
Sell now, you make 72 cents on a $1 share, Wow big money, all of you care less about losses and more on speculation on a company thats lost 80% of its worth, while your investment money goes directly into the pockets of weed executives to pay their million dollar wage, They need your money!!!!!!!!!! and investors continue to be scammed.
Canopy Growth shares were under pressure for a second day as analysts questioned whether the Canadian cannabis grower could reduce it cash burn and turnaround operations. Benchmark slashed its price target on the firm to zero.
The stock has dropped 78% this year amid a broader selloff in the increasingly competitive marijuana market and little progress on federal legislation in the US, closing unchanged at C$0.68 Monday. Its market capitalization has slumped from C$25 billion ($19 billion) in 2021 to less than C$400 million, leading to its expulsion from the S&P/TSX Composite Index earlier this month. https://fortune.com/2023/06/26/cannabis-pot-marijuana-canopy-growth-shares-analyst-zero-price-target/
Upon ´´legalization’´ suckers will notice that you cannot make money in the ´´legit’´ system.
Too much weed!
Yup! The market is all ready oversaturated…😂
We all know that lps are selling under cost.
But pumpers do not.
Adding more bunk weed to the caper will only make matter worst.
is there a short squeeze going on here with CGC... could be the Reddit, and Robinhood gang smell money here?.....the short funds got too greedy IMO and took CGC too low... now the threat of a R/S is off the table, and funds that could not buy under one dollar are buying... just look at the volume of shares traded already....Lodas
Quite the up-tick huh ?.....Oh boy.
Reckon we'll start seein' some of the bagholders resurface soon.
Late June : .50 cents
From Underground Legacy To Legal Industry: The Global Shift In Cannabis
THE GLOBAL CANNABIS industry is undergoing a transformative phase, as countries across the globe embrace the medicinal and adult-use potential of the plant. With the industry expanding on an international scale, cannabis enthusiasts and professionals are constantly eager to stay informed about the latest developments in the international cannabis landscape, including its global supply chain, wholesale flower market and cutting-edge technological advancements driving this ever-evolving culture, community and industry. Let’s have a look at each of these to better understand the impact of shifting from an underground legacy to a legitimate legal industry.
International Development of Cannabis
The international development of cannabis has witnessed a significant shift as more countries legally recognize its medicinal benefits and economic opportunities. Canada has been at the forefront of this movement, becoming the first G7 country to legalize recreational cannabis in 2018. Uruguay blazed a trail by becoming the first country to fully legalize cannabis in 2013, setting an example for others to follow. In the United States, as of June 1, 2023, 23 states and Washington, D.C., have enacted measures to regulate cannabis for adult use.
These developments signify a global trend toward cannabis reform and an increasing acceptance of its potential therapeutic and economic benefits. This begs the question: What is the catalyst for the growth in acceptance of the plant? As an entity actively present in every cannabis market globally, Grove Bags’ CEO Jack Grover chalks up education as a key foundational element to global expansion. When entering new markets where social and political ideologies tend to lean more traditional, organizations have no other choice but to break down outdated stigmas and back up new perspectives with facts, figures and logic. With cannabis still being a new industry, most would agree that delivering correct information to people is still half the battle.
Global Supply Chain
The global supply chain of cannabis encompasses a complex network of processes involved in the production, processing and distribution of cannabis and its derivatives. Cultivation techniques have advanced significantly with innovations such as indoor and greenhouse growing methods. For example, vertical farming systems allow cultivators to maximize space and optimize environmental conditions, resulting in higher yields and improved quality control. In terms of processing, advanced extraction methods, such as supercritical CO2 extraction, provide precise and efficient extraction of cannabinoids and terpenes, leading to the production of higher-quality, safer and more reliable cannabis products. On the quality control front, pest and disease management protocols have rapidly become more advanced in an effort to deliver a better quality product, while avoiding blows to cultivators’ bottom lines caused by pathogen invasion and destruction. In addition, strict regulations and quality control measures are crucial components of the global supply chain that will likely continue to develop and ensure consumer safety and product consistency.
Wholesale Cannabis Market
The wholesale cannabis market plays a pivotal role in the industry’s growth and development. Licensed producers, processors and distributors form the backbone of this market, enabling the efficient movement of cannabis products from the point of production to retailers. The wholesale market is influenced by various factors, including supply and demand dynamics, pricing strategies and regulatory frameworks. According to a report by Grand View Research, the global legal cannabis market size is projected to reach USD $102.2 billion by 2030, driven by the increasing acceptance of cannabis for medical and recreational purposes. This market growth fuels the competition among wholesalers, leading to innovations in product offerings, branding strategies and distribution channels.
Technological advancements have revolutionized the cannabis industry, driving innovation and improving efficiency throughout the global supply chain. Many of these technologies are being developed and worked on by teams across the globe thanks to the rapid growth of remote work. Automation has also made its mark in the cannabis industry by way of automated trimming machines that have reduced labor costs and increased efficiency in the post-harvest phase, pre-roll production at scale, and so much more that was once merely a wish. Operators across the globe are leveraging these machines and their technology typically to help streamline the overall production process. Furthermore, technological advancements have improved extraction methods, leading to higher-quality cannabis concentrates and oils. Supercritical CO2 extraction has become the industry standard for its ability to extract cannabinoids and terpenes without leaving behind harmful residues
As the global cannabis industry continues to flourish, the international development of cannabis, the intricate global supply chain, the wholesale market and the constant technological advancements are pivotal factors shaping its growth. From the gradual acceptance and legalization of cannabis in numerous countries to the advancements in cultivation techniques, processing methods and distribution channels, the cannabis industry is experiencing a global revolution. It’s time we begin seeing the underground legacy for what it is today and what it’s becoming: a legitimate, legal industry.
Is Marijuana on the verge of a legal revolution?
The world of weed is ablaze with anticipation and excitement as US health regulators boldly suggest a monumental shift in the government’s iron grip on marijuana.
Brace yourselves, because the federal Health and Human Services Department has thrown down the gauntlet by recommending that marijuana be extracted from its current abyss of “Schedule I” drugs – a category notorious for grouping marijuana alongside hardcore substances like heroin, LSD, quaaludes, and ecstasy. The audacious proposal? Move pot to the less restrictive “Schedule III.”
Now, hold onto your hats because this could be a game-changer. But before you get too carried away, let’s strip away the fluff and dive straight into what’s happening and what lies ahead.
First things first: don’t pack your bags for the marijuana revolution just yet. This seismic shift hinges on the Drug Enforcement Administration (DEA), the gatekeepers of drug classifications. They’re gearing up for a lengthy review process, complete with public input – a bureaucratic tango that could make your head spin. Still, make no mistake, what the Health and Human Services Department just dropped is nothing short of a seismic shockwave in the cannabis cosmos.
According to the Associated Press, Vince Sliwoski, the rockstar cannabis and psychedelics attorney from Portland, Oregon, who knows the ins and outs of the green revolution like the back of his hand, aptly calls this recommendation “paradigm-shifting” and “damn exciting.” It comes hot on the heels of President Biden’s support for medical marijuana, but only when the science and evidence sing the right tune. That’s why an independent review is now at the forefront.
But wait, does this mean that recreational pot is about to become a nationwide sensation? Hold your horses; we’re not quite there yet. Schedule III drugs, which include some eyebrow-raising bedfellows like ketamine, anabolic steroids, and odd drug combinations, are still clamped down with rules and regulations. Medical uses? Sure. Federal prosecution for the daredevils trafficking these substances without Uncle Sam’s blessing? Absolutely.
Reclassifying marijuana won’t suddenly turn the entire nation into a pot-friendly paradise. The thriving medical marijuana scenes in 38 states and the 23 states that have already embraced the sweet allure of legal recreational weed won’t magically comply with the rigorous requirements slapped on Schedule III drugs.
But here’s where it gets juicy. This rescheduling isn’t just smoke and mirrors; it has a potent impact, particularly on the realms of research and taxation. You see, marijuana’s current Schedule I status has locked it in a research straitjacket, making legitimate scientific inquiry feel like a mirage in the desert. It’s a Catch-22: everyone calls for more research, but the barriers to conducting it are like an impenetrable fortress. But guess what? Schedule III drugs are like the golden ticket for researchers. Say goodbye to the red tape.
And then there are the taxes, my friend. Under the current federal tax code, businesses dealing with Schedule I or II drugs can’t even dream of deducting regular expenses like rent and payroll. It’s like a 70% tax rate nightmare. But, reclassifying marijuana to Schedule III would throw a lifeline to the cannabis industry, slashing their tax burdens and making them more competitive against the shadowy illegal operators.
Now, for the naysayers – yes, there are always critics in the room. Smart Approaches to Marijuana, a national anti-legalization group, is banging the drum of opposition. Kevin Sabet, their President and a former Obama administration drug policy honcho, calls this recommendation a dance with politics, not science. It’s a nod to an industry thirsting for legitimacy, he claims.
But hold on, even some of the cannabis cheerleaders are giving this a lukewarm reception. They argue that rescheduling is just a baby step. They want marijuana completely emancipated from the controlled substances list, free as a bird – just like alcohol and tobacco, regulated but not shackled.
Paul Armentano of the National Organization for the Reform of Marijuana Laws points out that this move could perpetuate the state-federal divide in marijuana policies. Kaliko Castille, President of the Minority Cannabis Business Association, warns that Schedule III would leave marijuana in a muddy limbo, still federally illegal but with a veneer of legitimacy.
So, here’s the scoop, folks. The recommendation to reschedule marijuana is like a thunderclap in the ongoing saga of cannabis legalization. It won’t magically make weed legal coast to coast, but it does have major implications for research, taxation, and the competitive landscape within the cannabis industry. Buckle up because the marijuana rollercoaster is in full swing, and we’re all along for the wild ride.
Not bad considering Crappy Growth only been in business for a few years… 😂