From beer to bongs.
Adolphus Busch V, the great-great grandson of the founder of Anheuser Busch (BUD) , is throwing back to his grandfather's roots and starting his own company. ABV Cannabis Co. is a cannabis company based in Colorado. Right now, Busch's startup focuses on making a disposable vaporizer pen.
So why no Bud?
As of September 2018, marijuana use is legal in some capacity in 29 states. This has opened the door for thousands of new enterprises in this industry, from dispensaries to manufacturers of marijuana production equipment to business and legal consultants with an expertise in this field. So, there are lots of companies to invest in.
Tilray wins hands down in terms of stock price momentum. Over the last month, Tilray's share price has nearly quadrupled. Cronos Group and Canopy Growth have come close to doubling during the same period. Shares of Scotts Miracle-Gro, on the other hand, are down slightly.
Nevada’s cannabis industry continues to sizzle, with revenue in the fiscal year ending June 30 totaling $529.9 million overall, including $424.9 million for recreational alone, state officials reported Tuesday.
According to the state, marijuana tax revenue for the first full year of adult-use sales totaled $69.8 million – about 140% of expectations – with the last four months of the fiscal year particularly robust.
I realize a lot of my fellow Republicans don't like to think of free-market capitalism when it comes to marijuana. But capitalism has a way of getting desired products to consumers regardless of attempts by the political class to regulate it.
I witnessed that the other evening as I was out at a bar watching the legendary Billy Hector play guitar. I ran into a friend of mine who likes to smoke marijuana and, in the interests of journalistic research, I asked him what he thought of the ongoing effort in the state Legislature to legalize pot.
Got a question about cannabis? If so, then YouTube has long been a place to go. The platform’s power was something Green Flower Media understood well. The California company, which produces cannabis content focused on health and wellness, had posted hundreds of videos with titles like “What is cannabis terroir?” and “How to use cannabis with intention”.
Acreage Holdings, a New York-based cannabis company, purchased the vacant, multimillion-dollar greenhouse in Sewell last April as New Jersey's medical marijuana program exploded and the state began preparing for a potentially bustling recreational market.
The 135,000-square-foot greenhouse is adjacent to Delaware Valley Floral, a nationwide distributor of cut roses and flowers, and is located in an area of Gloucester County with scattered houses and farms. The greenhouse could become the largest marijuana cultivation center on the East Coast.
Former NBA Star Al Harrington launched his cannabis company Viola back in 2014, and this summer brought its product to the California market and is looking to expand across the state into 100 licensed dispensaries. Harrington explains how he is looking to change the perception of marijuana, and capitalize on this emerging market in the United States.
Wall Street Investment bank RBC Capital Markets has estimated that a legal cannabis market in the entire U.S. could generate $47 billion annually within the next ten years, according to a Business Insider report. The same analyst claimed that current combined legal and illegal sales top $50 billion.
“We believe further US decriminalization of cannabis including for recreational use is very likely over time. It ultimately starts with US voters who across demographics are supportive of cannabis legalization.” — RBC Capital Markets, in a letter to clients
MariMed focuses primarily on three aspects of the marijuana market. The company develops and operates medical cannabis production facilities that it leases to customers. MariMed provides professional consulting services to help businesses obtain state licenses to operate in the cannabis market. It also distributes its own lineup of cannabis products.