An estimated $4.6 billion in annual cannabis sales happen in New York alone, the majority of which is driven by that very same market, and the integration of that market into a legalized one is an absolute must, says Dasheeda Dawson, the Cannabis Health Equity Movement (CHEM) chief strategy officer and co-founder of the Cannabis Education Advocacy Symposium & Expo (CEASE). Dawson also runs the Weedhead & Company, a lifestyle cannabis brand that’s structured around education and e-commerce.
Investors stopped writing checks in 2019 because many cannabis companies were spending vast amounts of money to gain market share but failed to show a profit. That caused their stock prices to crater.
Three large SPAC initial public offerings have fueled the upswing in the cannabis industry in the first three months of this year, according to Viridian:
Cannabis advertising giant Weedmaps hopes to boost its revenue over the next three years by a whopping 175% – and investors are wagering the California-based company can deliver on that goal.
Since announcing its acquisition of Weedmaps on Dec. 10, Silver Spike Acquisition Corp. has seen its shares more than double, resulting in a Weedmaps valuation at 21 times sales and 98 times EBITDA for 2020.
Weedmaps, a cannabis review site and software company, announced Thursday that it has agreed to go public through a merger with a special purpose acquisition company (SPAC).
The deal values the company at $1.5 billion and would be a rare example of a cannabis-related company listing on a U.S. stock exchange, which legally can't list cannabis companies.
The major online pot shop directory and cannabis marketplace Weedmaps announced Wednesday that it will no longer allow black-market businesses to advertise on its site, a decision that could boost California's efforts to rein in its vast illegal market.
State regulators and licensed businesses had been pressuring the company to ban unlicensed businesses. Allowing untaxed, unregulated product on the site alongside the taxed marijuana of licensed and regulated stores undercut the legal market, they said.
Jenna Misciascio, a student at Stockton University in Pomona, NJ, hopes to launch a career in the cannabis industry.
“It's not really an industry yet, unless you go into medical,” she told a group of students, teachers and area residents at a forum on the potential economic impact of cannabis legalization in New Jersey on Monday, April 29, 2019. “If the legislation is passed, I want to find a way to combine adult use and hospitality.”
Representatives from the Stockton University chapter of Students Organizing for Marijuana Research and Transparency (SMART), Weedmaps, the Compassionate Care Foundation and the New Jersey Cannabis Industry Association held a public forum about the benefits of legalizing cannabis in New Jersey on Monday evening at Stockton University. The panel of experts featured a diverse array of professionals from the industry, including:
What could marijuana legalization mean for the Garden State’s economy and especially for young people looking to launch a career in the emerging industry?
From economic to social justice, the focus of “Greening Up the Garden State: Responsible Cannabis Policy N.J.” was almost 180 degrees from some of the dire opinions and questions asked at “Marijuana Legalization: A State & Local Perspective.”
Weedmaps will be presenting “Greening Up the Garden State: Developing Responsible Cannabis Policy in New Jersey” at this year’s New Jersey League of Municipalities conference.
The event is 1 to 1:50 p.m. Nov. 14 in Atlantic City Convention Center Room 309. In addition, Weedmaps will be at Booth 423 with the New Jersey Cannabis Industry Association during the convention.