Marijuana Business News

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Synonyms: 
stocks
business
Thu
26
Mar

Cannabis Sales, Stocks Soar Amid Outbreak, but Will the Bump Last?

One sector of the business world that has seen a much-needed spike during the coronavirus pandemic is cannabis sales, which are hitting new highs as people stockpile pot while electing or being ordered to stay home.

Sales for the week of March 16-22 show cannabis markets in California, Colorado, Oregon and Alaska — all legal recreational markets — were up 50%, while medicinal sales rose 41% for the week year over year.

Nonessential businesses across the U.S. and Canada have been ordered temporarily shut down or had their operations restricted to help combat the spread of the novel coronavirus, which has now killed more than 800 people in the two countries (though, less than 30 are in Canada).

Thu
26
Mar

Have Marijuana Investors Just Given Up?

The cannabis industry has gone through a rough period lately. After building extremely high expectations in 2018 with the legalization of recreational marijuana in Canada, marijuana stocks suffered significant losses in 2019. Just when it looked as though 2020 might be a better year for the cannabis industry, disruptions related to the coronavirus outbreak added new challenges.

Thu
26
Mar

2 Marijuana Stocks To Watch During The Coronavirus Pandemic

Marijuana stocks have without a doubt, taken a beating these last few months. Around six months ago, we saw some issues such as supply bottlenecks and the rising black market, both take their respective tolls on pot stock prices. Since that time, the largest catalyst to cannabis stocks has been the coronavirus. We can’t say that cannabis is the only industry being hit right now as the coronavirus has been wreaking havoc across all world markets. But, with any downtrodden time, there usually is an uptrend waiting to take hold.

Thu
26
Mar

Windsor’s first cannabis store is going ahead with its grand opening

Businesses of many different stripes are shutting their doors this week in line with some provinces declaring states of emergency amid the COVID-19 spread, but not all.

In the wake of the Ontario government declaring cannabis an essential service, Windsor’s first legal cannabis shop is gearing up to open for business, possibly as soon as this Friday.

David Craig, chief design officer for J. Supply Holdings, told CBC News that the store is “still on track to open this week,” but that the company has made “some new adaptations” to mitigate risk and ensure the health and safety of staff and clients alike.

Thu
26
Mar

Cannabis and COVID-19: What we know so far

The novel coronavirus was first detected in Wuhan, China in December last year. Officially called COVID-19, the virus since then has become a global pandemic. In an effort to control the spread in Canada, it was announced recently that non-essential businesses will shut down in Ontario and Quebec. Pot shops, deemed essential, will remain open.

Cannabis, as it turns out, is an increasingly popular choice of those prepping for isolation.

Thu
26
Mar

Where to buy weed during the COVID-19 pandemic

Approximately 4,000 times these past two weeks, I’ve thanked my lucky stars cannabis was legalized before the COVID-19 pandemic swept the globe and sent us all cowering in our bong dens.

Wed
25
Mar

Cannabis sales hit new highs in US and Canada

Cannabis sales are touching new highs as customers across the US and Canada stockpile weed to prepare for long spells of isolation because of the coronavirus pandemic.

Between March 16 and March 22, sales of recreational cannabis across key US markets, including California, Colorado, Oregon and Alaska, were up 50 percent and medical marijuana sales rose 41 percent from the same period last year, figures obtained from cannabis point of sale and data platform Flowhub show.

Wed
25
Mar

To apply for relief funds, weed companies need to have 3 quarters of positive cash flow

A second Crown corporation tasked with helping prop up the Canadian economy during the COVID-19 pandemic is giving cannabis companies the cold shoulder. 

Wed
25
Mar

Some pot producers helping fill need for crucial medical gear

As hospitals across Canada scramble to find new protective gear for healthcare workers who are on the front lines of the COVID-19 outbreak, some are getting fresh shipments from an unlikely source: licensed cannabis producers.

Several major cannabis producers such as Canopy Growth Corp. and Hexo Corp. have provided hospitals with personal protection equipment (PPE) such as face masks, gloves, and bodysuits, drawing from their own excess inventory.

Staff at cannabis producers often use the same facemasks and other PPE gear that hospital workers wear when entering plant growing rooms to help prevent plant contamination and the transfer of mould or mildew which could be devastating for a company's harvest plans. 

Wed
25
Mar

Ontario cannabis businesses tally 39 names on Sunshine List for 2019

More than three-dozen Ontario government employees working in the cannabis space were named on the province's annual Sunshine List, which tracks public-sector staffers that make more than $100,000 a year. 

The majority of those listed represent The Ontario Cannabis Store, accounting for 36 of the 39 people associated with the cannabis sector on the list, which was released late Friday.

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