Category: cannabis industry

First Ever U.S. Traded Marijuana Fund Comes to The NYSE

The legal cannabis market continues to enjoy success after lucrative success, solidifying itself as one of the most promising and profitable industries in existence. We’ve extensively covered the fact that the legal weed business is showing no signs of slowing down, with experts predicting that cannabis companies will easily rake in over $20 billion by the year 2020. One of the toughest challenges faced by cannabis startups and impacting existing businesses is the fact that many U.S. banks and financial intuitions want nothing to do with them. Of course, this is due to the fact that the federal government...

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5 Things the Cannabis Industry Can Be Thankful For

While we should be grateful every day, on Thanksgiving we tend to really consider just how many things we have to be thankful for. The cannabis industry that is now flourishing in the U.S. certainly has a lot to be thankful for – after all, just five years ago recreational sales didn’t exist, and a lot fewer states had access to medical marijuana. In 2017 alone, we’ve seen a lot of changes. Nevada started selling to recreational consumers, Florida started allowing medical marijuana for a much broader list of qualifying conditions, and several new studies are underway. So, before...

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Corona Enters the Legal Cannabis Industry

We’ve reported extensively on the foreseeable future of the cannabis industry. While much of the future of the legal herb business continues to look promising, there are some areas that cause varying degrees of concern. One of those areas is the fact that cannabis activists and enthusiasts are worried that corporations will eventually take over, essentially robbing the niche of its bottom-up, grassroots vibe. Others have argued that corporations should have every right to compete in a somewhat free market. Many companies who produce alcoholic beverages are taking notice that a significant chunk of their customer base is ditching...

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Marijuana Shops in Colorado Take in Another $136 Million in September

According to new estimates from The Cannabist, recreational and medical marijuana stores in Colorado sold over $136 million in products in September of 2017. Since actual sales numbers aren’t available in Colorado, The Cannabist gets their estimates by extrapolating sales data from tax revenue data. During the first three-quarters of the year cannabis shops in Colorado have exceed $1.1 billion in sales, up 19% from the same period last year. Earlier this year, however, the annual rate of growth was at about 36%, leading some to speculate on whether a plateau in marijuana sales is coming in Colorado. The...

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Budtender Fight Club Trains Cannabis Industry Hopefuls With Tough Love

The newly legal recreational cannabis market is in full effect in Nevada. And with over $27 million in sales in the first month, business is booming in the Silver State. With the new weed-fueled economic stimulus, a shortage of new employees could be looked at as a good problem to have. That’s exactly where many Nevada cannabis business owners find themselves. Enter Budtender Fight Club – the creation of Las Vegas business consultant Jason Sturtsman. No, students won’t be beating each other up in the basement of a seedy dive bar as the name might imply. But they will...

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Dozens of Marijuana Farms Burned in California Wildfires

Getty The most destructive wildfires in California’s history have been devastating the state since earlier this month, destroying hundreds of thousands of acres, thousands of structures and costing at least 42 people their lives. Few industries have been spared the devastation, and the legal marijuana industry was not one of them. According to Hezekiah Allen, executive director of the California Growers Association, at least 34 farms had been destroyed as of last Friday, a number he expects to go up as more data comes in. “Just the scale of this event is kind of numbing,” Allen said. To make...

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