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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 December 16th – 22nd, 2019.
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Without further ado, let’s get started.
10. President Trump Could Ignore Provisions That Protect Medical Cannabis States From Federal Intervention
President Trump Signs New $1.4 Trillion Spending Package Avoiding Government Shutdown
Here’s why investors shouldn’t worry about Trump’s attached statement regarding legal medical cannabis states.
9. Aurora Cannabis CCO Cam Battley Jumps Ship As ACB Stock Struggles to Stay Afloat
Battley’s Departure From Aurora Could Be a Warning Sign for Investors
In a rare Saturday afternoon press release, Aurora Cannabis (TSX:ACB) (NYSE:ACB) announced that its Chief Corporate Officer (CCO) Cam Battley has resigned from his role with the company.
8. ‘Long overdue’: Impending Wave of New Cannabis Stores in Ontario
Great News for Customers, Terrible for Black Market
The decision by the Ontario government to lift the cap on the number of private cannabis stores allowed in the province will not only provide relief to underserved areas, it will put a huge dent in the black market.
7. Sales of Pot Edibles Get Off to a Slow Start in Canada
If you Want Edibles in Canada, You’re Going to Have to Go a Long Way East
Canadians can now legally buy a range of new cannabis formats including vapes, edibles and beverages.
READ FULL CANADA EDIBLES ARTICLE
6. California Agency Suggests State Marijuana Tax System Shift
Potential Lower Rates and Addressing the Illicit-Market Threat
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An independent California state agency issued a long-awaited report about the state’s cannabis tax system, and its recommendations include a major overhaul that would simplify and possibly reduce marijuana tax rates.
5. Key U.S. Senate Leader Signals Major Changes to Cannabis Banking Bill
Dimming Prospects For Significant Reforms in 2020
U.S. Senate Banking Chair Michael Crapo, an Idaho Republican, laid the foundation for his own version of cannabis banking reform with a potentially onerous THC potency cap when he released a statement saying he doesn’t support the Secure and Fair Enforcement Banking (SAFE) Act as is.
READ FULL CANNABIS BANKING ARTICLE
4. Cannabis Short-Sellers Made Almost $1 Billion in 2019
Short-Sellers are Winning Big This Year With Expensive Bets Against Pot Stocks
Cannabis bears have cleared US$993 million in mark-to-market gains so far this year.
READ FULL SHORT SELLERS ARTICLE
3. Cannabis Firms Must Focus on Profitability, Communication for Long-Term Viability
Overall Takeaway From Marijuana Business Daily‘s Inaugural Investor Intelligence Conference
The cannabis industry is at a crossroads where companies will need to differentiate themselves based on profitability, strong yet simple capital structures and investor communication.
READ FULL CANNABIS INDUSTRY ARTICLE
2. Congress Attaches Marijuana, Hemp And CBD Provisions To Federal Spending Bills
Bipartisan Interest in Cannabis Research and Ensuring Hemp Legalization Implemented is Growing
The House and Senate have agreed to include a variety of marijuana, hemp and CBD provisions in reports attached to appropriations legislation that President Trump signed into law on Friday.
READ FULL SPENDING BILL ARTICLE
1. Cannabis 2.0: Industry Turns a New Leaf After Tough First Year of Legal Pot
Welcome to Cannabis 2.0, The Next Wave in the Rollout of Legal Marijuana Products in Canada
Candies, creams, drinks and more have opened a new $2.5-billion market for Canada’s infant pot industry, big portions of which took a pounding from the first year of legal marijuana.
READ FULL CANNABIS 2.0 ARTICLE
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.