Marijuana Business News

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Tue
23
Feb

Profits keep rolling in as Cannabis NB awaits final decision on its fate

Cannabis NB hasn't exactly been sitting idly by while it awaits a decision on its fate.

The Crown corporation, which has been waiting for more than a year to hear whether its operations will be privatized, said Monday it has pulled in more than $6 million in sales in less than a month and is on track to post its fifth consecutive profitable quarter.

 

In an email, Cannabis NB and Alcool NB Liquor spokesperson Thomas Tremblay said Cannabis NB is "awaiting a decision from government and ... looks forward to hearing an outcome."

Mon
22
Feb

4 Reasons Why The Marijuana Industry Has Become So Profitable

In the past few years, there has been one major central theme debated heavily by society. That is the legalization of cannabis. The once demonized plant stigmatized to cause delusions and murderous tendencies have been finally revisited and approved by government officials. As the health benefits of cannabis become more prominent, more and more stares are starting to legalize it.

In fact, legal cannabis has been taking over the market and skyrocketing in growth. During its first year of legalization in Colorado, the state earned over 700 million dollars in tax revenue. The number has since grown to more than a billion dollars a year.

Mon
22
Feb

Cannabis Packages Adapt to Consumer Preference

As cannabis continues to grow in legality for both medicinal and adult-use, consumers have indicated changing parameters for which format they prefer, with concentrates and edibles muscling in on dried flowers stronghold.

Mon
22
Feb

The Bizarre History and Promising Future of Delta 10 THC

Yes, you read that right. We have another form of THC to explore – meet Delta 10 THC, a new cannabinoid with a short but interesting history.

Delta 10 THC is one of the hundreds of cannabinoids found in cannabis. But unlike some of the bigger names like CBD, Delta 9 THC, CBGCBN and Delta-8 THC, Delta 10 is not a naturally occurring plant compound, although it does start off that way.

Mon
22
Feb

3 Top Cannabis Stocks to Buy in February

Former TV news anchor Dan Rather has referred to certain political races in the past as hotter than "a Times Square Rolex," "the devil's anvil," and "a Laredo parking lot." His folksy descriptions could just as readily apply to the U.S. cannabis market. No matter how you look at it, pot is hot.

Some investors have jumped on the bandwagon of marijuana stocks with less-than-solid underlying businesses. The smarter move, though, is to go with the stocks of well-run companies with strong growth prospects. Here are three top cannabis stocks to buy in February that check off those boxes.  

Mon
22
Feb

Vancouver council votes to slash sky-high fees for cannabis retailers

A city councillor is hopeful this is the last year cannabis retailers in Vancouver will pay the highest licensing fees in the country.

A motion passed Thursday is the first step in slashing the $34,000 annual fee — which is nearly ten times what liquor stores pay.

Coun. Rebecca Bligh says the move is meant to help licensed retailers thrive.

“It was quite clear that there’s a growing concern that Vancouver’s market is actually growing, but in the illegal market,” Bligh says.

 

Mon
22
Feb

Canadian retail sales of cannabis double in December 2020 compared to December 2019

For retailers of cannabis, 2020 likely marks a temporary high point, according to new figures from Statistics Canada.

Year-to-year sales of cannabis as measured in dollars roughly doubled in 2020, from about $148 million in December 2019 to $298 million in December 2020. It is important to point out that cannabis retailers currently account for a tiny share of overall retail following the legalization of cannabis sales in the fall of 2018. Retail sales in December 2020 alone totalled $53.4 billion and $606 billion for all of 2020.

Fri
19
Feb

Consumer price index falls on P.E.I.

The COVID-19 pandemic turned the arrow on price increases on P.E.I. in 2020, with the provincial economy showing a small amount of deflation.

While inflation was subdued across Canada last year, P.E.I. was the only province to record deflation from December 2019 to December 2020, with the consumer price index down 0.14 per cent from December to December. Nationally, the CPI rose 0.73 per cent.

 

Fri
19
Feb

5 Things to Consider Before Investing in the Cannabis Market

It's no surprise that brands like Constellation and Estee Lauder have dipped their toes into the rapidly expanding cannabis industry over the past few years.

Fri
19
Feb

Is Craft Cannabis the Next Craft Beer?

We've seen the popularity of craft beer rise across the nation, and according to IBISWorld, "Craft beer industry revenue has increased at an annualized rate of 4.4 percent to $7.6 billion over the five years to 2020, including estimated growth of 2.1 percent in 2020 alone." There always seems to be a unique appeal to any product we deem to be "craft." As many of us predicted, we're starting to see this trend become more evident in the cannabis space.

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