Ohio’s medical marijuana industry pulled in nearly $60 million in its first year of sales, with increased access to dispensaries and falling prices making up for the market’s sluggish start. Roughly 50% of the state’s total medical marijuana sales came in the last quarter of 2019, but it wasn’t enough to drive sales?to the heights […]
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Several states could legalize cannabis sales in 2020 as marijuana industry eyes lucrative East Coast market
Up to a dozen states could legalize adult-use or medical marijuana in 2020 through their legislatures or ballot measures, although only about a handful will likely do so.
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Think you may have to lay off cannabis employees? There are ways to avoid it
Marijuana businesses in the United States and Canada were forced to let go hundreds of cannabis employees in 2019. Here are some steps to avoid layoffs.
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Week in Review: IL adult-use marijuana stores face shortages, Michigan early recreational MJ sales near $6.5M, Harvest pivots on deals & more
After the Jan. 1 launch, some Illinois adult-use cannabis retailers have?cut off customers temporarily?to conserve inventory,?recreational marijuana sales in Michigan hit almost $6.5 million in first month,?Harvest Health & Recreation looks to terminate an acquisition –?and more of the week’s top MJ business news. Huge rec sales in Illinois lead to some shop closures The […]
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Some marijuana firms turn to small investor opportunities in tight funding climate
Cannabis companies in the United States currently face a tough environment in terms of raising money. However, as an example of how marijuana businesses are looking to address this funding challenge, one California producer is turning to mom-and-pop investors as opposed to venture capital. Goldenseed, a privately owned Santa Cruz-based cultivator and processor, said it […]
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New Massachusetts training program helps cannabis companies avoid hefty noncompliance fines
It was down to the wire for some Massachusetts marijuana companies to meet a Jan. 1 deadline to train managers and employees under a new compliance and safety program that is the first of its kind in the nation. The state’s Responsible Vendor Training Program?is designed to support licensee compliance and enhance the safety of […]
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Weedmaps drops thousands of unlicensed cannabis ads, but some illegal shops remain
California-based Weedmaps has lived up to the pledge it made in August of dropping unlicensed marijuana retailer ads from its site by New Year’s Day. But there’s a caveat: The self-published nature of Weedmaps’ platform, combined with its lack of vetting ads before they go live, has given illicit businesses an avenue to keep at […]
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Some Illinois adult-use marijuana shops close due to product shortages, high demand that totaled $11M in sales in first week
Illinois cannabis shops have had approximately a week to sell recreational marijuana since the state began allowing it Jan. 1, and demand has proven so extreme that – despite enjoying about $11 million in early sales – some retailers have?cut off adult-use customers temporarily in order to conserve inventory. “The demand in Illinois is every […]
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Chart: Local approval in Michigan adult-use marijuana program creates uneven business opportunity
Michigan’s strategy for adult-use cannabis businesses empowers localities to control their communities, but it creates disparate business opportunities within the state’s market. Regulators chose not to restrict the number of recreational marijuana businesses allowed statewide but granted municipalities local approval. Adult-use sales began in Michigan on Dec. 1, 2019, and could reach $1.4 billion to […]
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High Times changes CEOs again as iconic cannabis brand seeks profitability
High Times Holding Corp. has reshuffled its chief executives, the latest development in the saga of a 46-year-old magazine publisher struggling to evolve into a mainstream, diversified cannabis company. The company appointed Stormy Simon, former president of the online retailer Overstock.com, to replace Kraig Fox, a media heavyweight who?left Los Angeles-based High Times on Dec. […]
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Marijuana businesses raise millions of dollars by cashing out of real estate through sale-leaseback deals
Large cannabis companies increasingly are selling their own cultivation, processing and storage facilities and immediately leasing them back as a way to instantly raise tens of millions of dollars at a time when outside financing is scarce. Unlocking the value of real estate with a sale provides money that can be used to grow a […]
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Cannabis companies emerge from deadly outbreak with greater focus on technology.