CANNABIS. PHOTO: PEXELS
CANNABIS. PHOTO: PEXELS

Cannabis News | Top of the Week: 12/8

Every week, ACRONYM rounds up your Cannabis News into one handy dandy post. Find what’s important, WEED out what’s not. See what we did there? Check weekly under our Cannabis category for up to date news!


 

ARIZONA CITIES MIGHT OPT OUT OF ADULT-USE CANNABIS SALES EXPANSION (MJBIZDAILY.COM)

Publish Date: December 7, 2020

THE BOTTOM LINE: 

“The city councils of two sizable municipalities in Arizona are planning to vote against allowing new adult-use cannabis businesses and testing labs, even though the state’s voters approved a recreational marijuana market during the November election.” 

READ MORE: (MJBIZDAILY.COM)

 

HOUSE-PASSED MARIJUANA LEGALIZATION BILL WOULD ADD $13.7B TO FEDERAL BUDGET, CONGRESSIONAL ANALYSTS SAY (MARIJUANAMOMENT.NET)

Publish Date: December 7, 2020

THE BOTTOM LINE: 

“The federal marijuana legalization bill passed in a historic vote last week by the U.S. House of Representatives would generate about $13.7 billion in net revenue for the U.S. treasury over the next decade, according to a new report by the Congressional Budget Office (CBO). It would also cut federal prison spending by nearly $1 billion.”

READ MORE: (MARIJUANAMOMENT.NET)

 

COULD FLORIDA BE THE NEXT STATE TO LEGALIZE MARIJUANA IN 2022?

Publish Date: December 7, 2020

THE BOTTOM LINE: 

“Four more states voted to legalize recreational marijuana for adults in November, and late Friday, the U.S. House of Representatives voted to decriminalize marijuana at the federal level.

Two legalization amendments could make the 2022 ballot in Florida, and a powerful state senator has filed a bill to keep control of marijuana in the legislature’s hands.”

READ MORE: (NEWS4JAX.COM)

 

THE 1 MARIJUANA STOCK TO BUY AFTER THE U.S. HOUSE VOTE TO DECRIMINALIZE POT (FOOL.COM)

Publish Date: December 8, 2020

THE BOTTOM LINE: 

“Now that such a momentous moment has arrived, many investors are no doubt on the hunt for great stock picks. I think that there’s one marijuana stock to buy after the historic House vote to decriminalize marijuana. That stock is Innovative Industrial Properties (NYSE:IIPR).”

READ MORE: (FOOL.COM)

 

HOW BLACK BUSINESSPEOPLE WERE LEFT OUT OF WASHINGTON’S GREEN GOLD RUSH AFTER MARIJUANA WAS LEGALIZED (SEATTLETIMES.COM)

Publish Date: December 7, 2020

THE BOTTOM LINE: 

“The news spread like wildfire: Basketball legend Shawn Kemp would break barriers by opening a Seattle cannabis retail store. 

The October news release proclaimed Kemp’s Cannabis would be the city’s first Black-owned retail cannabis store. 

But much like racial equity in the cannabis industry in general, the reality was much murkier. The company later walked back its claim of being the first Black-owned cannabis store and acknowledged that Kemp was not one of the shop’s five majority owners at the time it opened on Oct. 30. Last week, the city said Kemp owns just a 5% stake in the business.

The confusion around Kemp’s Cannabis is just the latest example of the uphill battle to create racial equity in the cannabis industry.”

READ MORE: (SEATTLETIMES.COM)

 

WHAT IT MEANS TO INVEST IN U.S. VS. CANADIAN CANNABIS STOCKS (CNBC.COM)

Publish Date: December 5, 2020

THE BOTTOM LINE: 

“Cannabis stocks as a whole have been on the rise since the U.S. election, with U.S. names such as Trulieve, TerrAscend and Green Thumb Industries climbing alongside Canadian heavyweights including Canopy Growth, Aphria and Village Farms.

But there’s an important distinction to be made between U.S. and Canadian pot plays, Tim Seymour, founder and chief investment officer of Seymour Asset Management and the portfolio manager of the Amplify Seymour Cannabis ETF (CNBS), told CNBC’s “ETF Edge” this week.”

READ MORE: (CNBC.COM)

 

SODA, GUMMIES AND ELBOW CHOCOLATES: KC PLANT MAKES MISSOURI’S FIRST MARIJUANA EDIBLES (KANSASCITY.COM)

Publish Date: December 7, 2020

THE BOTTOM LINE:

“For weeks, the Kansas City company has had 800 pounds of marijuana sitting at a Carrolltown grower as it awaited final regulatory approval to start production.

‘Currently, I have more weed sitting in storage than the rest of the state has to sell,” said Clovr CEO Josh Mitchem. “I mean, we’re sitting on 800 pounds in storage with 200 pounds coming every 10 days.’

In an industrial park full of rail cars, metal shops and tractor trailers near the Missouri River, Clovr inhabits what Mitchem expects will become the largest marijuana manufacturing facility in the state, if not the nation. So far, the company has repurposed about 48,000 square feet of the 171,000-square-foot building into labs, kitchens and production spaces, spending some $16 million on the building, renovations and equipment.”

READ MORE: (KANSASCITY.COM)

 

 

Check back next week in our Cannabis Section for more news, products, and more!

 


 

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