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Recreational cannabis sales in three key markets still falling after initial coronavirus-related spike

March 31st, 2020Despite a couple of temporary sales spikes in recent weeks, adult-use cannabis sales in California, Colorado and Washington state are all suffering from the economic fallout surrounding the coronavirus pandemic. According to point-of-sale data provided by Seattle-based Headset, adult-use cannabis sales were less than those for the same day in 2019 for six consecutive days […]

Create a winning plan to market and brand your cannabis business

March 29th, 2020(This is an abridged version of a story that appears in the March issue of Marijuana Business Magazine.) Branding is a key component to any winning business strategy. Of course, it also might be one of the most difficult strategies to get right – and if implemented the wrong way, branding can prove to be a costly […]

Week in Review: Recreational marijuana sales tumble, cannabis stores open during pandemic, Harvest-Verano deal dead & more

March 28th, 2020COVID-19 causes cannabis sales to ebb, flow Only a few days after adult-use marijuana sales soared amid the coronavirus scare, they took a nosedive. MJBizDaily takeaway: The roller-coaster ride in marijuana sales was to be expected. Initially, consumers, panicked by the pandemic, stockpiled products. The sudden drop might mark a natural decline after consumers stocked up before […]

Marijuana packaging firm KushCo lays off 49, blames COVID-19

March 26th, 2020KushCo Holdings, a cannabis company specializing in ancillary products such as packaging, on Thursday said it laid off 49 employees this month as the California company’s CEO noted that “the COVID-19 pandemic creates ever-increasing uncertainty in the cannabis industry.” The layoffs will save the company about $4 million, according to a company news release. Since last […]

Canada asks regulated cannabis labs for help in COVID-19 testing

March 26th, 2020Health Canada is working to identify lab capacity across the country to assist with COVID-19 testing, and the agency has reached out to certain federal cannabis license holders for help, Marijuana Business Daily has learned. Canada is currently experiencing a COVID-19 testing backlog. In Ontario alone, 10,965 people have coronavirus test results pending. In a […]

New Zealand cannabis scheme on schedule for April launch despite COVID-19 pandemic

March 26th, 2020The coronavirus pandemic sweeping the globe is not expected to affect the initial launch of New Zealand’s medical cannabis scheme, which is set to take effect April 1, a government official told Marijuana Business Daily. Other jurisdictions – notably Mexico – have pending cannabis industry legislation that faces near-certain delay because of measures taken to combat COVID-19. […]

Coronavirus impact felt in cannabis industry M&A as Harvest Health-Verano deal scuttled

March 26th, 2020The once-booming market for cannabis mergers and acquisitions is now feeling fallout from the COVID-19 pandemic, on top of all the other problems that have brought M&A activity to a virtual halt in the industry. Harvest Health & Recreation’s planned acquisition of privately held Verano Holdings was called off Thursday, with the companies citing “prolonged obstacles” […]

Cannabis labs watchful of supply disruptions during coronavirus crisis as testing demand remains strong

March 26th, 2020Marijuana testing labs report steady business as the COVID-19 outbreak rolls on, though concerns loom over the availability of protective equipment such as gloves and masks and other cleaning supplies. It’s a topic the cannabis industry will keep a careful eye on because, if the coronavirus pandemic eventually causes hiccups in testing, that could slow […]

Colorado cannabis dispensaries can stay open under stay-at-home order

March 25th, 2020Colorado Gov. Jared Polis on Wednesday issued a stay-at-home order covering most of state’s 5.8 million residents starting Thursday morning to try to slow the spread of the coronavirus. “Critical” businesses – including “marijuana dispensaries” – may stay open during the order, which expires April 11, according to the Denver Post. The governor’s actual order was not […]

SLIDESHOW: Keep your marijuana business afloat during a crisis

March 25th, 2020SLIDESHOW: Keep your marijuana business afloat during a crisis is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

COVID-19 might delay Maine’s adult-use cannabis launch beyond June

March 25th, 2020The long-awaited launch of Maine’s recreational marijuana market could be delayed further because of the coronavirus, according to a memo from state regulators. Earlier this month, a state agency projected that the first adult-use marijuana shops would open in June, three months later than the initial forecast. But now that timetable may be overly optimistic. “Several communities […]

Australian Senate committee issues report on medical cannabis barriers

March 25th, 2020An Australian Senate committee wrapped up its inquiry on barriers to regulated medical cannabis and published its final report this week. Any improvements to regulatory overlap and availability pathways to locally produced products could brighten business prospects for entrepreneurs. The committee’s final report came with 20 recommendations, covering a range of areas. including: More education for […]