Pardon the cliche, but the marijuana industry appears to be the greatest thing since sliced bread.

Although the cannabis industry has existed for decades behind the scenes, the legalization of recreational weed in Canada, along with more than 40 countries giving medical marijuana the green light around the world, has opened the floodgates for legal revenue to flow into the industry.

But, as is common with any nascent and fast-growing industry, it's dealing with growing pains. This is especially true of our neighbor to the north, Canada.

Support for recreational cannabis among Canadians has dropped since the drug was legalized last year amid a shaky roll-out of legal pot and a still-robust black market, according to a survey published Thursday. 

In a survey conducted by Dalhousie University and the University of Guelph, half of Canadians support the legalization of recreational cannabis, down from about 69 per cent back in 2017. Meanwhile, uncertain sentiment surrounding legalization has grown to 20 per cent of the country, up from about 7 per cent two years ago, the survey found. 

One of the nation’s largest marijuana investment firms is looking to make money in Rhode Island’s medical marijuana program.

Acreage Holdings — which has marijuana interests in nearly a dozen states and counts among its directors former U.S. House Speaker John Boehner and ex-Massachusetts Gov. Bill Weld — is in talks to buy Greenleaf Compassion Center, in Portsmouth, one of only three medical marijuana dispensaries in Rhode Island.

Greenleaf CEO Seth Bock said Wednesday he had signed a letter of intent to sell the business but could not disclose the potential buyer because of a nondisclosure agreement.

U.S. hemp product company Kannaway believes that single-use coffee pods are the next cannabis market opportunity.

“Kannaway’s single-serving, CBD-infused coffee and tea cups provide a fast and pre-measured way to ingest your daily dose of CBD without disturbing your daily routine,” Kannaway CEO Blake Schroeder says in a press release. Kannaway is a subsidiary of Medical Marijuana Inc.

Cannabis-infused beverages are not yet legal in Canada, but the federal government has set a deadline to legalize them along with other edibles, extracts and concentrates by Oct. 17, 2019.

Health Canada is changing its process for issuing cannabis licences, in a bid to reduce wait times, after a review found a "significant amount" of its resources was used to approve numerous applications for facilities that have yet to materialize years later.

Effective immediately, new applicants for licences to cultivate, process or sell cannabis — for either medical or recreational purposes — must now have a fully built site that meets the regulations when they submit their application, the government agency said.

Prior to this, cannabis licence applicants could submit an application with their plans and get approval before building.

Green Growth links up with Abercrombie & Fitch to sell CBD-infused products 

It’s an exciting time to be a cannabis investor!

The Horizons Marijuana Life Sciences Index ETF (OTC: HMLSF) is obliterating the broader markets…

Year to date, the exchange-traded fund has more than doubled the performance of tech stocks and blue chips.

But I think its run is far from over. There are plenty of catalysts on the horizon. We have pro-cannabis legislation – like the STATES Act and the SAFE Banking Act – inching its way forward in Congress.

The marijuana stock market has been quite heavily fueled by companies that produce recreational cannabis for some time now. These companies have been working to put out large quantities of the substance, sometimes ranging in the hundreds of thousands of kilograms. For this reason, we have seen a decline in the amount that believes the marijuana industry may see a supply shortage, but many factors still remain up in the air. For now, it seems as though the marijuana stock market is riding high as we continue to traverse the future of the industry.

The owner of a London cannabis retail store that still isn’t open has been penalized $50,000 by the province’s pot regulator.

An Ontario numbered company behind Tweed, located at 1025 Wellington Rd. S, is one of seven store owners forfeiting an additional $25,000 to the Alcohol and Gaming Commission of Ontario (AGCO) for failing to be in business by April 30, a spokesperson for the regulator confirmed.

Eleven owners previously had $25,000 drawn from their letters of credit submitted to the AGCO — a condition for applying to open a marijuana retail outlet — for not opening by mid-April.

Retailers across Canada are struggling with a shortage of all cannabis, but there's one product they're especially desperate to keep on shelves: cannabidiol or CBD, a non-intoxicating extract vaunted for its purported health benefits.

The extract, most commonly sold as oil, has been promoted as a natural cure for pain, anxiety and insomnia, despite limited medical research. Many customers are coming in asking for it, especially first-time and older users, store owners say.

"I don't think the licensed producers really realized how popular CBD was, so there's none available, really,'' said Krystian Wetulani, founder of City Cannabis Co. in Vancouver.