Cannabis Countdown: Top 10 Marijuana Industry News Stories of the Week

Welcome to the Cannabis Countdown. In this week’s rendition, we’ll recap and countdown the top 10 marijuana industry news stories for the week of November 25th – December 1st, 2019.

Without further ado, let’s get started.

10. ‘OK Boomer’ Meme Used to Slam Trump Advisor’s Old-School Marijuana Views

GOP Congressman Matt Gaetz Mocks Top Trump Advisor’s Out of Touch Views on Marijuana

“OK boomer. That’s a very boomer approach to marijuana, if for no other reason than it’s actually THC, not TCH.”

WATCH FULL OK BOOMER VIDEO

9. Aurora CEO Eyes U.S. Amid Looming ‘Carnage’ for Canadian Pot Industry

There Are a Few Things That Still Keep Aurora CEO Terry Booth Up at Night

While the stock of Aurora Cannabis ACB ACB has indeed suffered, trading down 51% over the past year, Terry Booth continues to remain optimistic about the company’s prospects. Booth highlights how the U.S. remains a crucial market for its CBD product ambitions while reiterating a firm focus on governance and managing its finances to retain investor confidence in an industry beset by steep losses.

READ FULL AURORA CANNABIS CEO ARTICLE

8. Michigan Pauses Sale of Marijuana Vaping Products, Bans Vitamin E Acetate

The Changes Were Part of Emergency Rules Announced By the State’s Marijuana Regulatory Agency

Michigan regulators have temporarily paused the sale of marijuana vaping products as they implement new safety standards spurred by an outbreak of lung injuries. Also, regulators banned on Friday the use of vitamin E acetate, an additive that’s been linked to the injuries, in the vaping products.

READ FULL MICHIGAN VAPE ARTICLE

7. Illicit Cannabis Supply Output Still Dominates In The U.S.

72% of All the 2019 Cultivation in the U.S. Has Been From Illicit Growers

In New Frontier Data’s The U.S. Cannabis Cultivation Report: 2019 Legal and Illicit Output by State, the estimated cultivation output in the U.S. for 2019 is forecasted to reach 29.8 million pounds, and expand to 34.4 million pounds by 2025.

READ FULL U.S. CANNABIS SUPPLY ARTICLE

6. New Jersey Governor Backs Marijuana Decriminalization Ahead Of 2020 Legalization Ballot Vote

Question of Legalizing and Regulating Sales is Now Expected to go Before Voters as a Referendum on the 2020 Ballot

New Jersey Gov. Phil Murphy (D) announced on Tuesday that he will be working with lawmakers to advance legislation to decriminalize marijuana possession after the legislature failed to produce a passable bill to more broadly legalize cannabis.

READ FULL NEW JERSEY CANNABIS ARTICLE

5. No Need to Worry About Cannabis Industry: Canopy Growth

News of a Weakening Cannabis Industry Sent Chills Through Some Residents, But Officials Say There is No Need to Worry

Smiths Falls-based Canopy Growth WEED CGC struggled to meet its earnings goals over the past few quarters, with the company citing a lack of accessibility to legal weed in Ontario – the country’s largest market – as a major problem. Canopy is in an “amazing” position compared to other cannabis companies because it has an “incredibly strong cash balance sheet.”

READ FULL CANNABIS INDUSTRY ARTICLE

4. DEA Finalizes Plan To Grow 3.2 Million Grams of Marijuana in 2020

DEA Initially Proposed 2020 Production Quotas in a Notice Published in the Federal Register in September

The Drug Enforcement Administration (DEA) finalized its plans to authorize the cultivation of 3,200,000 grams of marijuana for research purposes next year—a 30 percent increase from 2019’s quota.

READ FULL DEA CANNABIS ARTICLE

3. Trump Says Drug Prohibition Doesn’t Work During Vaping Meeting

President Trump Seemed to Acknowledge the Failure of Policies Prohibiting Drugs During a Meeting on Vaping

“When you watch prohibition, when you look at the alcohol, you look at cigarettes, you look at it all, if you don’t give it to them, it’s going to come here illegally,” said Trump. “That’s the one problem I can’t seem to forget.”

READ FULL TRUMP PROHIBITION ARTICLE

2. Cannabis Stocks Drop Amid Concerns Over FDA’s Most Recent Round of CBD Warning Letters

FDA Issued 15 New Warning Letters Yesterday to Cannabis Companies They Believe Are Illegally Selling CBD

The U.S. Food and Drug Administration (FDA) is back in the spotlight after the regulatory body issued 15 new warning letters yesterday to cannabis companies. The FDA sent warning letters to the following companies:

READ FULL FDA CBD CRACKDOWN ARTICLE

1. Recreational Marijuana is Legal in Michigan and Will Soon Be Legal in Illinois, Here’s What to Know

2 Midwestern States Are Breaking Into the Recreational Marijuana Market and Dispensaries Are Expecting Huge Crowds

Legal weed sales began Sunday in Michigan, where a handful of dispensaries in Ann Arbor planned to be open for business. In Illinois, sales are expected to begin New Year’s Day. The states are the 10th and 11th nationwide to allow recreational marijuana sales.

READ FULL MICHIGAN & ILLINOIS ARTICLE

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