Marijuana Business News

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stocks
business
Mon
20
Apr

3 Reasons Medical Marijuana Is a Better Long-Term Investment Than Recreational Pot

It's been a wild ride for pot stocks already in 2020. Last year, the Horizons Marijuana Life Sciences ETF (OTC: HMLSF) fell by 39% while the S&P 500 soared by 31%. This year, the Life Sciences ETF is already down 35%, except this time the S&P 500 is also down by 11%. Unfortunately, some volatility is unavoidable as a result of the coronavirus pandemic. However, for cannabis investors who want to minimize their risk and look for safer options to invest in, there is a solution -- medical marijuana.

Mon
20
Apr

Why April Will Be a Big Test for the Cannabis Industry

March was a strong month for pot sales. As the coronavirus pandemic put consumers on edge, many people loaded up on cannabis, presumably in anticipation of prolonged stays at home. However, the data suggest that sales surged during the first half of the month, while sales began to decline toward the end of the month. Some industry experts went so far as calling pot "recession-proof" and similar to alcohol in its resiliency.

However, it may be far too early to tell if that's the case. For investors, April will be a very telling month, and whatever happens will shed light on whether pot stocks will be okay during the coronavirus pandemic, or if their sales could take a significant hit in the weeks and months ahead.

Mon
20
Apr

Canopy Growth to Exit Africa, Close Another Canadian Facility

Last month, Canopy Growth (NYSE:CGC)(TSE:WEED) announced that it will close two cultivation facilities located in British Columbia and the yet-to-open greenhouse facility in Ontario. On Thursday, the company announced another set of global operational changes to optimize its production, improve efficiency, and better align its supply with the demand.

Fri
17
Apr

Hemp farmers really need a break in 2020

There is no nice way of putting this. America, all of it, is taking it on the chin in 2020. We had barely even come out of the gate this year when, all of a sudden, the entire population was forced back inside due to a sneaky virus that nobody seems to understand or have any control over.

As a result, the country has mostly shut down, leaving us all to watch the economy drop dead right from the living room couch. There is no end in sight to the madness either, at least nothing concrete of hope, making it a distinct possibility that our financial stability could soon be in dire straits.

Fri
17
Apr

Canopy Growth sees up to $800M charge on global restructuring

Canopy Growth Corp. announced sweeping changes Thursday across its global operations aimed at cutting costs that will result in a charge of up to $800 million and a headcount reduction of 85 full-time positions.

Canopy said it will exit Africa, cease cultivation in Colombia, shut down its Saskatchewan production facility, and halt hemp cultivation in New York due to an oversupply of the product from last year's growing season. 

"When I arrived at Canopy Growth in January, I committed to conducting a strategic review in order to lower our cost structure and reduce our cash burn," said David Klein, Canopy’s chief executive officer, in a statement. 

Fri
17
Apr

Ontario online pot purchases jump 600% amid COVID-19 pandemic, data shows

Cannabis purchases rose as much as 600 per cent since the beginning of March in Canada's biggest market thanks to stockpiling by consumers during the COVID-19 pandemic - and demand may be sticking around. 

Sales data provided by the Ontario Cannabis Store (OCS) over the past six weeks - the same period that COVID-19 spread across the country - show legal pot appears to be a more "habitual" purchase than a one-time novelty, according to Cheri Mara chief commercial officer at the provincial retailer. 

While it may be too early to really gauge how COVID-19 will impact legal cannabis sales over the long term, the OCS data provide a highly precise glimpse at how people are consuming cannabis during the pandemic. 

Fri
17
Apr

Ontario Cannabis Store orders quadrupled as stoners stockpiled for COVID-19

Is Ontario’s struggling weed store gaining a new, loyal customer base among stoners in lockdown?

The provincial cannabis store lost $42 million in its first fiscal year, but online sales skyrocketed in the weeks after the World Health Organization declared COVID-19 a pandemic. As Canadian public health authorities implemented increasingly strict physical distancing measures in an effort to contain the virus, many of us were motivated to hunker down at home and stockpile essential supplies — which, according to figures released today, included a lot of cannabis.

Fri
17
Apr

B.C. liquor, cannabis sales up in March, now levelled off to seasonal norms

When the province declared a state of emergency to support the COVID-19 response in mid-March, BC Liquor Stores (BCLS) saw an ‘uncharacteristic’ increase in customer volume.

“The trend was similar to the increased activity experienced by grocery stores,” a Ministry of Attorney General spokesperson told the Tribune.

Sales figures for BC Liquor Stores (BCLS) or BC Cannabis Stores (BBCS) are not released as those statistics are considered confidential business information, however the ministry provided an outline of sales across the province.

Thu
16
Apr

Two Pot Stocks to Watch as The Industry Continues to Change

The cannabis market is one of the fastest-growing industries of today. With only a few years behind us at this point, it seems as though it is difficult to make any large deductions about where pot stocks are headed. But, in the long term, we can begin to figure out what trends are worth considering and which are not. In the short term, however, the coronavirus has made it extremely difficult to predict movements in the marijuana market.

Thu
16
Apr

Industrial hemp products exploding

As CBD markets continue to expand, farmers, researchers and businesses are looking at other industrial hemp plants — cannabinoids.

Last year, during their first year of production, 90% of Kansas’ more than 200 industrial hemp farmers grew CBD hemp. The other 10% focused on grain and fiber varieties. By trying to grow CBD, these farmers were opting for a higher-yield hemp crop.

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