CANNABIS. PHOTO: PEXELS
CANNABIS. PHOTO: PEXELS

Cannabis News | Top of the Week: 2/21

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!


 

Cannabis Infused Edibles Market Could Exceed $11.5 Billion By 2025 (PRNewswire.com)

Publish Date: February 16, 2021

THE BOTTOM LINE: 

“Cannabis-infused foods revenues, also known as cannabis edibles, that contain cannabinoid compounds, have been growing steadily over the past few years and are projected to continue to grow over the next several years according to industry reports.

The growing acceptance of cannabis is the key factor likely to drive the cannabis edibles market globally in the future. The opinion about cannabis is changing and its adoption is increasing globally, which is projected as a lucrative business opportunity for this market in the upcoming years.

The legalization of cannabis in Canada is attracting an extensive range of market players. Moreover, the high popularity of cannabis for medical purpose is also anticipated to drive the cannabis edibles market globally over the estimated timeframe.”

READ MORE: (PRNewswire.com)

Top US lawmakers want to make cannabis federally decriminalized: What to know (CNET.com)

Publish Date: February 21, 2021

THE BOTTOM LINE: 

“Cannabis legalization or decriminalization (we’ll get to the difference in a bit) is one of several issues set to test Democrats’ slim majority in Congress, along with a $15 minimum wage hike and making Washington, DC, the 51st state.

At the federal level, cannabis continues to be prohibited across the board, resulting in a legally dubious gray market operating in the 42 states with loosened marijuana laws. In contrast, about a third of all adults in the US have access to recreational marijuana, thanks to a patchwork of state and local regulations that have legalized or decriminalized the substance to some degree.”

READ MORE: (CNET.com)

 

3 Top Cannabis Stocks to Buy in February (Fool.com)

Publish Date: February 21, 2021

THE BOTTOM LINE: 

“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.”

READ MORE: (Fool.com)

 

South Dakota voters legalized cannabis, but state politicians aren’t having it (Leafly.com)

Publish Date: February 18, 2021

THE BOTTOM LINE: 

“In Nov. 2020, about 54 percent of voters in South Dakota approved an adult-use cannabis legalization measure, while nearly 70 percent voted in favor of medical marijuana legalization. So why are state officials fighting tooth-and-claw to undermine those votes?

In the three months since the election, South Dakota Gov. Kristi Noem has actively supported an effort to overturn the adult-use measure in the courts. And state legislators are working to delay the legally mandated implementation of the medical marijuana law.”

READ MORE: (Leafly.com)

 

Addressing troubled cannabis licensing rollout among state’s ‘key priorities,’ Pritzker says (Chicago.SunTimes.com)

Publish Date: February 17, 2021

THE BOTTOM LINE: 

“During Wednesday’s State of the State and budget address, Gov. J.B. Pritzker said passing legislation to create additional pot shop licenses is among the state’s “key priorities.”

Pritzker made good on his campaign promise to fully legalize cannabis statewide, but the launch of Illinois’ recreational marijuana program has been dogged by an ongoing licensing imbroglio. All the state’s pending cannabis licenses have been delayed indefinitely following outcry and lawsuits from jilted social equity applicants, who were supposed to get a leg up in the application process in an effort to diversify the state’s white-dominated cannabis industry.

State senators approved legislation during last month’s lame duck session that aimed to resolve the issue by doubling the number of new dispensary licenses and creating a second lottery to determine the winners, but their counterparts in the House failed to call it for a vote. On Wednesday, Pritzker signaled that accomplishing that goal remains front of mind.

“The to-do list is long, but it includes key priorities like finally authorizing the overdue second cannabis licensing lottery, and passing an energy bill that protects our nuclear fleet and builds up our wind and solar industries, protects the environment, puts consumers first and supports jobs,” Pritzker said.”

READ MORE: (Chicago.SunTimes.com)

 

All Eyes on New Jersey, New York, Connecticut: Week in Review (CannabisBusinessTimes.com)

Publish Date: February 20, 2021

THE BOTTOM LINE: 

This past week in cannabis kept our attention fixed on New Jersey, even if a snowstorm wedged its way into the mix and pushed a Feb. 19 legislative deadline into Feb. 22. Gov. Phil Murphy has a chance to sign the state’s adult-use legalization bill into law, granting the mandate of voters, but it remains to be seen how this will go down next week.

READ MORE: (CannabisBusinessTimes.com

 

 

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

 


 

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