Nevada’s recreational marijuana industry hit a new high, selling more than $37.9 million in October. The state has earned nearly $20 million in marijuana tax revenue since the adult-use market launched in July.
“We are pretty on target with projections, maybe a little over,” Department of Taxation spokeswoman Stephanie Klapstein told the Las Vegas Review-Journal. Continue reading “Nevada’s Recreational Marijuana Market Hits $38 Million, Soars Past Colorado”
At a state briefing on environmental rules that await growers entering California’s soon-to-be-legal marijuana trade, organic farmers Ulysses Anthony, Tracy Sullivan and Adam Mernit listened intently, eager to make their humble cannabis plot a model of sustainable agriculture in a notoriously destructive industry dominated by the black market.
Continue reading “California Legalization Brings Host of Environmental Rules”
On a frigid, snowy December morning nearly 10 years after medical marijuana became legal in Michigan, the fully regulated business officially started.
The day started with a whimper, rather than the bang state regulators had prepared for. Two hours after the doors opened at the Department of Licensing and Regulatory Affairs, only two people had shown up to turn in their applications for medical marijuana licenses. Continue reading “Michigan’s Medical Marijuana Program Kicks Off Slowly”
California’s legal marijuana market is finally, fitfully, taking shape.
The state on Thursday issued the first batch of business licenses to sell and transport recreational-use pot, just 18 days before legal sales will begin on Jan. 1, 2018.
The 20 temporary licenses — some of which were for the previously existing medical marijuana industry — represent a fraction of the thousands of licenses expected to follow as the state embraces legal weed in 2018, but their release set off jubilation. Continue reading “California Issues First Legal Marijuana Business Licenses”
Last week I shared a list of 6 cannabis stocks I expect to profit from the legalization of recreational cannabis in California.
This week I am going to take a deeper dive into one of my favorite stocks from the list.
Continue reading “2 Profit Triggers Could Send This Stock Soaring In 2018”
California has a possible solution to the problem of banks being unwilling to handle money from the state’s multibillion-dollar legal marijuana industry, one that officials say would be the first system of its kind in the nation.
Talks are underway between the state, banks and federal regulators on a plan to allow banks to serve a marijuana market that is expected to grow to $7 billion annually by 2020 in California. Starting Jan. 1, it will be legal to grow and sell marijuana for recreational and medical uses. Continue reading “California Looks To Solve Banking Issues As Legal Marijuana Nears”
Officials want to make Las Vegas the country’s first city to allow marijuana smoking lounges, and hope to do so by March or April of 2018.
“We’re still trying to work out the little details,” said Bryan Scott, the city’s deputy city attorney. “But we’re trying to get it right without the feds coming down on us.”
Under the drafted regulation, the lounges would be allowed to obtain separate licenses to sell marijuana paraphernalia, like pipes, t-shirts and bongs. Scott also discussed the possibility of allowing food service, as long as the food sold at the consumption lounges did not contain pot. Continue reading “Las Vegas may have marijuana lounges by spring 2018”
Canopy Growth Corp (OTCMKTS:TWMJF) has clearly emerged in 2017 as perhaps the largest overall cannabis producer in the world. But, as is often the case in emerging market segments, the rich get richer: the company just announced plans to establish a 40,000 m2 production facility in Odense, Denmark as part of a joint venture company, Spectrum Cannabis Denmark ApS, representing an alliance with Danish Cannabis ApS, a leading European hemp producer. Continue reading “Another Masterstroke for Canopy Growth Corp (OTCMKTS:TWMJF)”
Cannabis stocks have a huge event directly on the horizon. In fact, it’s the most important event of the last 12 months and I expect it to send a certain group of cannabis stocks soaring.
On January 1 California will become the latest – and largest US state – to legalize recreational cannabis.
This is easily the most important event in the cannabis sector in the last 12 months. And I expect it to be a huge catalyst for cannabis stocks for two reasons.
1.) Billions In New Sales:
California is already the largest cannabis market in the world – by a long shot. Its legal and illegal cannabis market did around $8 billion in sales in 2016 – with 75% of that from illegal sales. Recreational is expected to quickly chip into illegal sales and grow into a $4 billion annual market within a few years, from basically $0 today. That is a potential revenue and profit windfall for cannabis companies ready to capitalize. I expect this to be a strong tailwind for US cannabis stocks in general and particularly ones operating in California’s high-growth market.
2.) California Rec Goes Viral:
I expect this story to go viral in late December and early January. I am expecting to see major press coverage right around the New Year all across digital and print. All that attention is going to be great for cannabis stocks. I expect millions of people to suddenly realize, “investing in cannabis stocks makes a lot of sense!” If that happens, it would trigger billions of new capital flowing into US cannabis stocks. That would be very good for current shareholders operating ahead of the curve.
These are the two reasons I am bullish on US cannabis stocks right now.
Even better – this is the perfect time to invest.
This is the perfect time to be looking at US cannabis stocks.
While Canadian and Australian cannabis stocks have been burning up the chart in 2017, US cannabis stocks have struggled.
The US cannabis index is down 16.5% in 2017. Take a look below.
US Cannabis stocks have been struggling with legal uncertainty – medical and recreational cannabis are both still illegal at the federal level.
However – that weakness actually makes this a great time look at US cannabis stocks.
Not only are they trading at a sharp discount to Canadian and Australian cannabis stocks that recently jumped into a new all-time high – US cannabis stocks have a big-time catalyst directly on the horizon – California.
That’s why US cannabis stocks have already started to rebound, which you can also see in the chart above.
This looks like a long-term bottom to me and the beginning of a new bull market in US cannabis stocks.
Today I want to share six US cannabis stocks that I believe will benefit when rec goes legal in California.
Terra Tech (TRTC) is a California based cannabis company. Terra Tech owns a line of dispensaries in California and Nevada under the brand name Blum.
Kush Bottles (KSHB) is headquartered in California and sells packaging products to the US cannabis industry.
Grow Generation (GRWG) operates more than a dozen retail stores in Colorado and California that sell hydroponic ad organic gardening supplies to cannabis growers.
Solistek (SLTK) sells specialty lighting equipment to the cannabis industry and is headquartered in California.
Innovative Property Resources (IIPR) leases cannabis greenhouses to cannabis companies looking to ramp production. IIPR is headquartered in San Diego, CA.
Americann (ACAN) is shooting to become one of the largest cannabis growers on the East Coast with its ambitious plans to build a 1 million square foot cannabis greenhouse.
As you can see this group of stocks has a lot of business happening in California. I expect legalization to be very good for business, and that’s creating a great investment opportunity.
Canopy Growth Corp (OTCMKTS:TWMJF) has been consolidating in a lateral range but remains locked in a strong upward trend, powered by a fortress balance sheet, strong growth, and a major sector tailwind. Canopy just announced that it has entered into a supply and production agreement -which it notes is “the largest provincial cannabis supply agreement announced to date” – securing a regulated supply of cannabis for Newfoundlanders and Labradorians heading into the legal adult access market. Continue reading “Canopy Growth Corp (OTCMKTS:TWMJF) Locked in a Strong Upward Trend”