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 January 13th – 19th, 2020.

Without further ado, let’s get started.

10. Lawmakers Increase Pressure on Trump White House Officials to Update Antiquated Federal Cannabis Policy

State Marijuana Laws and the Federal Government’s Out-of-Date Policy Are Still Very Far Apart

Washington DC lawmakers are pushing President Trump‘s administration for greater cannabis research freedoms. “Researchers are in a catch-22. They can’t conduct cannabis research until they show cannabis has a medical use, but they can’t show cannabis has a medical use until they can conduct research.”

READ FULL CANNABIS REFORM ARTICLE

9. Foreign Assets Could be Next on the Block for Cash-Hungry Cannabis Companies

International Holdings Becoming Burden to Companies Needing to Divest Non-Core Assets

With fears of a cash crunch looming over the industry, some of the same producers who spent tens of millions to build an international presence have started dialling back, putting projects on hold or divesting of their foreign operations altogether. In October, Canopy Growth WEED CGC (FRA: 11L1) dumped its 15% stake in Australian company AusCann Group. More recently, Aurora Cannabis ACB ACB (FRA: 21P) announced it would be suspending construction of Aurora Nordic.

READ FULL INTERNATIONAL CANNABIS ARTICLE

8. Ontario Cannabis Store Sells Out of Edibles Within Hours

Newly Regulated Products Such as Chocolates and Vapes Went on Sale Online Thursday in Ontario

Ontario’s only legal online outlet for adult-use cannabis sold out of new Cannabis 2.0 edibles within hours of their initial availability Thursday, demonstrating exceptionally strong demand in Canada’s largest market.

READ FULL ONTARIO EDIBLES ARTICLE

7. Nevada Marijuana Tax Revenues Hit New High Mark in October

Nevada Collected a Monthly Record of Nearly $9.8 Million in Marijuana Taxes in October

Nevada State Department of Taxation figures reported Monday by the Las Vegas Sun represented an increase of more than $1 million in recreational and medical cannabis tax revenues from September, and a jump of close to $1.6 million from October 2018.

READ FULL NEVADA ARTICLE

6. Concentrates, Topicals and Drinks: What’s to Come and When it’s Coming to the Ontario Cannabis Store

Estimated Timeline of New Cannabis 2.0 Products in Ontario

Here’s what we know so far about what’s still on its way, and when it’s scheduled to arrive in stores and online.

READ FULL CANNABIS 2.0 ARTICLE

5. Global Cannabis Sales Experience ‘Stunning Growth’ Despite Growing Pains and Limited Access to Markets

U.S. Markets Accounted for 81% of the $15 Billion in 2019 Cannabis Sales

According to Arcview Market Research and BDS Analytics, global sales of the plant increased by 48% to US$15 billion in 2019 and are on pace to cross the US$43 billion threshold by 2023.

READ FULL GLOBAL CANNABIS SALES ARTICLE

4. Florida Won’t Legalize Marijuana in 2020 — Here’s Why That’s a Good Thing

Legislation Would Have Outlawed Home-Growing

Florida will not vote on legalizing recreational cannabis this election. For all its perceived momentum, Make It Legal Florida announced this week it won’t be able to collect the 766,200 signatures necessary to place the legalization amendment on the 2020 ballot.

READ FULL FLORIDA ARTICLE

3. CDC Confirms Black Markets, Not “Vaping,” Caused Outbreak

Latest CDC Findings Point to Black Market Vapes as the Culprit

A new report from the U.S. Centers for Disease Control and Prevention (CDC) puts the final nail in the coffin of the idea that the spate of lung injuries that occurred beginning last summer were caused by Vaping.

READ FULL VAPE CRISIS ARTICLE

2. Canopy, Loblaw Among 8 Hopefuls to Take Over New Brunswick Cannabis Sales

New Brunswick Received 8 Proposals to run the Province’s Adult-Use Cannabis Retail System

An opportunity to exclusively operate New Brunswick’s recreational cannabis retail, wholesale and e-commerce platforms has drawn interest from a wide range of companies, including Canada’s largest food retailer and the biggest marijuana producer in the country. The eight proposals included Ontario retail giants Canopy Growth WEED CGC (FRA: 11L1) and Fire & Flower Holdings FAF FFLWF.

READ FULL NEW BRUNSWICK ARTICLE

1. Worst is Over or ‘Dead Cat Bounce’? What to Make of the Almost 20% Rally in Cannabis Stocks

Some Think Pot Stocks are Finally Priced Right

This week’s bounce in Pot Stocks — the first in at least two months — could be the start of a renewed bullish run, some portfolio managers believe, as investors react favourably to more regulatory clarity on retail stores in Ontario and better-than-expected earnings from some of the major licensed producers such as Organigram Holdings OGI OGI 0OG.

READ FULL CANNABIS INDUSTRY RALLY ARTICLE

Image by Brent Barnett from Pixabay