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California Has The Biggest Legal Marijuana Market In The World. Its Black Market Is Even Bigger - Los Angeles Times
California has the biggest legal marijuana market in the world. Its black market is even bigger Los Angeles Times California's legal cannabis market is on track to post a record $3.1 billion in sales, but the black market is more than twice as large.
August 8, 2019
Is Coca-cola processing a cannabis drink?
COCA-COLA IS REALLY DEVELOPING A CANNABIS-BASED DRINK?
With the unstoppable collapse in the sales of soft drinks and an increasing number of consumers looking cannabidiol ), the non-psychoactive cousin of THC (tetrahydrocannabinol) .of infusions, tea and other healthy drinks, Coca-Cola is seriously considering launching itself into the world of cannabis. The sparkling beverage giant par excellence has no intention of offering a "hot" drink to its customers, as it did when Coca-Cola was invented. The interest of the company falls, rather, on healthy drinks that could contain CBD (
Recently, the stock markets and the main financial channels went into turmoil at the news of the meeting between Coca-Cola and Aurora, a Canadian company specializing in cannabis products. Apparently, they are evaluating the production of beneficial drinks containing CBD. This Monday, Aurora's securities increased by 23% and other companies in the sector benefited from the increase in the value of the shares. Even other soft drink companies have begun to express interest in this area, riding the wave of the success of the industry of marijuana . The craft beer brand Lagunitas of the company Heineken NV has launched a non-alcoholic beer with THC, while Constellation Brands Inc, producer of the Corona beer, is investing in the Canadian producer of marijuana Canopy Growth Corp.
Cannabis stocks are taking a beating, even as optimism grows over U.S. policy changes
July 22, 2019 9:47 AM EDT
Rather unexpectedly, the Senate Committee on Banking, Housing and Urban Affairs will hold a hearing on cannabis banking Tuesday. This marks the first time the Republican-controlled Senate has agreed to examine the so-called SAFE Act, which would allow banks to offer services to pot companies in compliance with state law.
“On the legislative front, it is evident that the politics of cannabis is undergoing a transformation that is almost unparalleled in Washington,” Cowen & Co. analyst Jaret Seiberg said in a policy outlook call with reporters last week. “This has gone from an issue that Capitol Hill did not take seriously to one that is driving legislation and elections, and this all happened in the last two years.”
While Seiberg doesn’t believe cannabis will be legalized until after the 2020 election, he said narrower measures like the Secure and Fair Enforcement Banking Act could be implemented before then. That would be a clear signal to the industry that politicians are increasingly open to federal legalization.
However, the growing optimism around U.S. policy changes isn’t helping cannabis stocks. The sector has taken a beating in recent weeks, with the BI Global Cannabis Competitive Peers index down almost 9 per cent since the beginning of July and nearly 28 per cent since late April.
STORY CONTINUES BELOW
Issues on both sides of the border are weighing on company shares. In Canada, Bruce Linton’s ouster as co-chief executive officer of Canopy Growth Corp. signalled stakeholders are growing impatient about the lack of profitability in the sector, while regulatory issues at CannTrust Holdings Inc. have damaged the industry’s credibility.
In the U.S., a flurry of deal-making has raised antitrust concerns at the Department of Justice, which has requested additional information about pending deals by MedMen Enterprises Inc., Cresco Labs Inc. and Cannex Capital Holdings Inc. It’s likely Curaleaf Holdings Inc. will face the same scrutiny in its US$875-million acquisition of Chicago-based Grassroots Cannabis, but management said they’re “highly confident” the transaction will close, according to Andrew Kessner, analyst at William O’Neil & Co.
“We believe a major player like Curaleaf has carefully assessed the potential issues that could potentially block the deal, and that their decision to expand into key new states” with a large deal will help mitigate broader concerns about antitrust risks, Kessner wrote in a note.
TRENDING IN CANADA
The perceived regulatory risk has caused some investors to move to the sidelines, but it appears the Department of Justice is undergoing an “education process” in cannabis as opposed to finding objective issues with the deals, said Canaccord Genuity analyst Matt Bottomley.
As a result, “positive commentary, or the closing of a material acquisition, could represent a significant positive valuation catalyst for all U.S. players,” he said.
The bigger regulatory concern may actually be at the state level, as states are “becoming increasingly aware of — and averse to — the idea of ‘big marijuana’ dominating a new industry,” said Kessner. This may lead to more restrictive legislation and regulatory frameworks, potentially limiting growth potential.
All this is beginning to damage sentiment about the industry more broadly. Horizons ETFs Management Canada, provider of the Horizons Marijuana Life Sciences Index ETF, found that only 36 per cent of financial advisers are bullish on marijuana equities, down from 47 per cent in the second quarter, while 58 per cent of retail investors are bullish, down from 70 per cent, according to their survey.
“It may still be too early to say that the marijuana sector’s post-legalization afterglow has come to an end, but it’s becoming apparent that it has lost some of its ‘shine,’ particularly among hard-won advisers,” said Horizons CEO Steve Hawkins
JULY 10, 2019
Hawaii Decriminalizes Cannabis
APRIL 28, 2019
In Florida you can purchase Cannabis through a drive-Thru (more to come)
Marijuana stocks are hardly moving these days
420 parties in T.O were somewhat quiet due to the rain. By 6:00pm Downtown Toronto was quiet. There was a scatering of people at Y. D. Square. City Hall was empty. The two pot shops on Queen had small lineups. Trinity Bellwood park was empty. Not a creature was stiring not even a mouse.