Cannabis Countdown: Top 10 Marijuana And Psychedelics 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 and Psychedelics industry news stories for the week of March 30th – April 5th, 2020.

Without further ado, let’s get started.

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10. U.S. Doctor Urges FDA to Temporarily Approve Psychedelic Therapies to Aid Coronavirus Patients

Dr. Campbell Lays Out His Case for the Rapid Approval of Psychedelic Therapies to Address What he Says Will be an “Inevitable Spike of Mental Illnesses”

Wisconsin-based resident psychiatrist Dr. Morgan Campbell is calling on the U.S. Food and Drug Administration (FDA) to temporarily approve Psychedelic therapies which would allow psychiatrists and therapists to immediately begin administering Psychedelics such as Psilocybin (Magic Mushrooms), MDMA and LSD to help aid struggling patients of the COVID-19 pandemic.

READ FULL FDA PSYCHEDELICS ARTICLE

9. How Will COVID-19 Affect the Cannabis Industry?

The Subject Was Front and Centre in a New Report Issued by Echelon Wealth Partners

Echelon analyst Andrew Semple has one overarching message for investors: be opportunistic but also be careful. The Echelon Wealth Partners report addressed six key themes: Cannabis as an Essential Business, Market Movements, Demand Drivers, Capital is Critical, The Supply Situation, and Regulatory Risks.

READ FULL CANNABIS INDUSTRY REPORT ARTICLE

8. Nevada Marijuana Deliveries Are Skyrocketing, is This the New Normal for the Cannabis Industry?

Much Like the Grocery Stores Trying to Fill Orders for Rice and Potatoes, Cannabis Retailers Cannot Fill Pot Delivery Orders Fast Enough

Since Nevada‘s cannabis industry temporarily switched to delivery-only purchases, retailers have cut short purchasing windows, grown their delivery vehicle fleets and set priority times for medical patients.

READ FULL CANNABIS DELIVERY ARTICLE

7. Missed Earnings, Misdirection Put Canadian Cannabis Executives in Hot Seat

The Exodus of Canadian Cannabis Execs is in Full Swing After Their Companies Raked up Collective Net Losses Exceeding $6 Billion in 2019

Most of Canada’s top cannabis producers have replaced their CEOs or CFOs over the past year after failing to meet customer and investor expectations. Some left on their own volition, and others were forced out. Most notably, Canopy Growth CGC fired its founder and long time CEO Bruce Linton last year and more recently, Aurora Cannabis ACB founder and CEO Terry Booth “retired.” What went wrong?

READ FULL CANNABIS EXECS ARTICLE

6. Psychedelics Activists Push for Ballot Reforms in Face of COVID-19 Restrictions

Initially, Activists Were Hopeful That Online Signature Collecting Could Potentially Be Permitted

For Psychedelics activists in Washington DC, there’s bad news and there’s good news. The bad news: the COVID-19 pandemic has forced them to cease gathering signatures in person. The good news: they’re not ready to give up the fight.

READ FULL PSYCHEDELICS REFORM ARTICLE
 

5. Illinois Adult-Use Marijuana Sales Remain High at $35.9 Million in March

More Than $109 Million of Marijuana Products Were Purchased in Illinois in the First Three Months of Legalization

Illinois‘ third month of sales were on par with the first two despite a stay-at-home order being in place for 11 days in March. Preliminary numbers show statewide adult-use cannabis sales in March totaled $35.9 million, according to a news release Thursday from the Illinois Department of Financial and Professional Regulation.

READ FULL ILLINOIS CANNABIS ARTICLE

4. States That Have Allowed Marijuana Businesses to Remain Open During Coronavirus Pandemic Stay-at-Home Orders

Here’s Where Each State with Some Form of Statewide Stay-at-Home Order Stands as of April 2

Most state governments around the nation have deemed medical marijuana companies “essential” during the coronavirus pandemic, meaning the vast majority can keep doing business after residents were told to stay at home and many businesses were ordered to scale back or close their operations.

READ FULL U.S. MARIJUANA ARTICLE

3. Cannabis Stores in Ontario No Longer Deemed Essential, Will Close This Weekend

Ontario’s Government Released a Revised List of Essential Businesses on Friday

Cannabis stores across Ontario will have to close as of Saturday night after the provincial government removed them from their list of essential businesses.

READ FULL ONTARIO CANNABIS ARTICLE

2. COVID-19: The Turning Point for Global Cannabis Legalization

As of Friday, 3 April 2020, There Are Over One Million Confirmed Cases of Coronavirus Worldwide

As this develops, the potential of a legal cannabis industry to provide recession-proof jobs and taxes will become increasingly attractive to governments across the world.

READ FULL CANNABIS LEGALIZATION ARTICLE

1. Cannabis Declared Essential Amid COVID-19 Crisis, a Monumental Moment for the Legal Industry

Legal Cannabis Deemed an ‘Essential Service’ During the COVID-19 Pandemic is a Major Turning-Point for the Industry

As COVID-19 continues to sweep across North America, a growing number of U.S. states and Canadian provinces have declared the cannabis industry as an essential service. Here’s a rundown of the states and provinces that are currently working to ensure cannabis remains accessible for millions of individuals.

READ FULL ESSENTIAL CANNABIS ARTICLE

Image by Nikita Volodko from Pixabay