Financial analysts say they expect the expansion of the marijuana legalization movement will continue to post a “significant threat” to the alcohol industry, citing survey data that suggests more people are using cannabis as a substitute for alcoholic beverages such a beer and wine. A report from Bloomberg Intelligence (BI) projects that slumping sales of
California cracks down on hemp products, sets age limit
California officials on Friday announced emergency regulations to tighten control over hemp-derived products, citing increasing health incidents and risks to youth. Gov. Gavin Newsom said the new rules will ban THC-containing hemp products and create stronger protections for children against unregulated THC. The news comes a month after lawmakers in …
Cannabis stock reaction to rescheduling delay ‘overblown’
The recent news that the Drug Enforcement Administration scheduled an administrative hearing for Dec. 2 to “consider differing expert opinions regarding rescheduling of cannabis to schedule III” put many cannabis companies on edge. “The cannabis equity market lurched violently downward on the news as it clearly pushed the issuance of …
The Daily Hit: September 5, 2024
The Daily Hit is a recap of the top financial news stories for Thursday, September 5, 2024. On the Site Longtime New Mexico cannabis company shuttering due to saturation As of Sept. 3, New Mexico had approved 1,006 retail licenses. Read more here. Jazz Pharmaceuticals’ CBD drug shows promise beyond …
Longtime New Mexico cannabis company shuttering due to saturation
Vertically integrated cannabis retail chain Sacred Garden in New Mexico, a staple of the marijuana industry since its founding in 2010, is going under and will close its doors Sept. 21, according to media reports and a notice on the company website. The New Mexico market has become too competitive …
Study: Adverse delta-8 THC incidents higher in states without legal cannabis
States that prohibit marijuana use are experiencing significantly higher rates of adverse events related to delta-8 THC products, according to a new study published in the Journal of Medical Toxicology. Researchers from Ohio State University’s College of Medicine analyzed 4,925 incidents involving delta-8 THC reported to U.S. poison control centers …
Federal circuit court rules ‘all products’ made from federally compliant hemp are legal
The Fourth Circuit Court of Appeals ruled this week in a wrongful termination lawsuit that “all products” made from hemp that has 0.3% delta-9 THC or less are “unambiguously” federally legal. At the same time, the appellate court upheld the right of the North Carolina company to fire the worker …
Wisconsin tribes launch lobbying campaign for medical marijuana
One of the few Midwestern states remaining without legal medical or recreational marijuana, Wisconsin now has a formal political campaign dedicated to rectifying that, by lobbying state lawmakers to approve medical cannabis. And the new campaign is being spearheaded by Native American tribes, The Daily Cardinal reported. The Indigenous Cannabis …
Jazz Pharmaceuticals’ CBD drug shows promise beyond seizure reduction
Jazz Pharmaceuticals plc (Nasdaq: JAZZ) announced plans to present eight abstracts at an upcoming major conference in Europe, showcasing new data on its cannabidiol (CBD) epilepsy treatment. The survey, which the company will present at the 15th European Epilepsy Congress in Rome next week, found that 87% of caregivers reported …
Clinical Trial: CBD Dosing Reduces Daytime Fatigue Compared to Placebo
“Five-week administration of CBD, but not of placebo, resulted in improvements … [in] fatigue/vitality and psychological well-being,” investigators concluded. The post Clinical Trial: CBD Dosing Reduces Daytime Fatigue Compared to Placebo appeared first on NORML.
Study: Endometriosis Patients Report Quality of Life Improvements Following Cannabis Use
“Cannabis was rated as the most effective self-management strategy to reduce symptom intensity.” The post Study: Endometriosis Patients Report Quality of Life Improvements Following Cannabis Use appeared first on NORML.
Alabama judge considers revising order that’s stalled medical marijuana licensing
A Montgomery County Circuit Court judge is considering revising a temporary restraining order that has kept the issuance of medical marijuana business licenses in limbo. But what that change would entail is still unknown. Judge James Anderson on Tuesday heard arguments from attorneys representing the Alabama Medical Cannabis Commission and …
The Daily Hit: September 4, 2024
The Daily Hit is a recap of the top financial news stories for Wednesday, September 4, 2024. On the Site Audit reveals California regulators bungled $100 million cannabis licensing aid program The program was established in 2021 but expires in June 2025, at which point the cities and counties will …
IGC Pharma targets Alzheimer’s market with anti-amyloid drug candidate
IGC Pharma Inc. (NYSE: IGC), which was formerly known as India Globalization Capital, announced Wednesday it plans to advance its drug candidate IGC-AD1 into clinical trials as a potential anti-amyloid treatment for Alzheimer’s disease. The move follows recent FDA approvals of anti-amyloid drugs from Eli Lilly and Eisai/Biogen, signaling growing …
Whitney Economics slashes U.S. hemp acreage forecast by 82%
Cannabis and hemp business consulting firm Whitney Economics has dramatically reduced its 2030 forecast for U.S. hemp grain and fiber acreage, citing regulatory uncertainties and infrastructural challenges. The firm now projects 1 million acres by 2030, down 82% from its previous estimate. The revision could translate to approximately $3.1 billion …
Number of the Week: 394 million
394 million – How many pre-roll units were sold between January 2023 and June 2024 Cannabis pre-rolls are coming in strong. According to data from Headset, pre-roll products make up the third largest cannabis product category in the U.S. From January 2023 through June 2024, more than 394 million units …
The Daily Hit: September 3, 2024
The Daily Hit is a recap of the top financial news stories for Tuesday, September 3, 2024. On the Site List of New York cannabis retailers delinquent on bills has just two names The policy, which prohibits extending credit to companies on the list, appears to be doing what it …
Fourth Missouri cannabis recall affects 37,000 more products
A fourth large-scale cannabis product recall in Missouri was issued on Friday for 37,000 goods, another indicator that regulators in the Midwest state are becoming increasingly strict about compliance with marijuana business rules. The new recall brought the total of recalled cannabis products to almost 175,000 since the first recall, …
Missouri does the hokey pokey on hemp ban
A controversial ban on hemp products is back in effect this week in Missouri, following weeks of political infighting that threatened to delay its implementation. The Missouri Department of Health and Senior Services said in a statement that Gov. Mike Parson’s Aug. 1 executive order prohibiting the sale, manufacture and …
List of New York cannabis retailers delinquent on bills has just two names
An ongoing list of licensed New York cannabis dispensaries that are more than 30 days past due on their bills to suppliers had just two names on it as of Aug. 28, despite there being now 171 operational recreational marijuana shops in the Empire State. Several cannabis company executives said …