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The Week In Cannabis: Bloomberg Moves Forward, Trump Stays Put, And More On Markets – Yahoo Finance


cannabis news week, we saw Democratic presidential candidate Mike Bloomberg issue share a criminal justice reform plan, which included proposals for the decriminalization of cannabis possession and the expungement of criminal records concerning cannabis convictions.” data-reactid=”18″>In a relatively slow cannabis news week, we saw Democratic presidential candidate Mike Bloomberg issue share a criminal justice reform plan, which included proposals for the decriminalization of cannabis possession and the expungement of criminal records concerning cannabis convictions.

“Mike believes that further scientific study is required to assess the health effects of marijuana. In the meantime, he believes that no one should go to jail for smoking or possessing it,” the plan read.

voiced in an interview.” data-reactid=”20″>On the other hand, Marc Lotter, President Donald Trump’s director of strategic communications said the federal government has no intention in legalizing marijuana. “I think the president has been pretty clear on his views on marijuana at the federal level. I know many states have taken a different path,” he voiced in an interview.

In Colorado, the Department of Revenue said cannabis sales were close to $1.75 billion in 2019. This translated into more than $300 million in tax revenue.

MEDIF) was chosen by Shoppers Drug Mart to provide premium cannabis concentrates products to medical patients across Canada.

https://tinyletter.com/javierhasse” data-reactid=”24″>If you want to get this news recap in your email inbox every week, please subscribe to https://tinyletter.com/javierhasse

reported.” data-reactid=”26″>Down in Latin America, the only medical cannabis product offered to patients in Peru has sold out less than three months after its market debut, MJBizDaily’s Alfredo Pascual reported.

“At the Northeast Cannabis Business Conference this week, there was lots of depressing talk about the challenges the industry was going through,” Debra Borchardt, CEO of Green Market Report, told Benzinga. “However, I also heard lots of stories of companies who have seized this moment to find opportunities. Traders have always loved volatility because then they can make money. This bear market will eventually end and the winners will shine brightly.”

ETFs posted mixed performances this week. Over the last five trading days – including last Friday:

  • The Horizons Marijuana Life Sciences Index ETF (OTC: HMLSF) (TSE:HMMJ) was down 0.29%.
  • The ETFMG Alternative Harvest ETF (NYSE: MJ) gained 0.3%.
  • The AdvisorShares Pure Cannabis ETF (NYSE: YOLO) lost 1.14%.
  • The Cannabis ETF (NYSE: THCX) dropped 0.67%.
  • The Amplify Seymour Cannabis ETF (NYSE: CNBS) tumbled 1.62%.
  • The SPDR S&P 500 ETF Trust (NYSE: SPY) closed the period down 1.19%.

More News From The Week

NBEV), the Colorado-based healthy products company, announced the launch of its CBD beverage Noni+CBD in Japan through their network of more than 50,000 independent distributors.

CURLF) to bring its top shelf product to patients throughout the state.

“The USDA Seal is one of the highest standards for quality,” said Jacob Goldstein, Co-Founder and VP of Agriculture at Sunsoil. “It’s an indicator of our constant efforts to elevate our farming and production processes and supports our mission to make the highest quality CBD for the most people.”

“Derek joining Exactus in a pivotal role is a testament to the direction we are taking as a company,” said Bobby Yampolsky, Chairman of the Board of Exactus. “His immense experience in the hemp industry will be of great value at this time following our harvest and entering our supply agreement with Hemptown. There is exciting growth around other cannabinoids such as CBG, and Derek will have the tools in place to help Exactus exceed its goals.”

TLLTF) doubled down on its leadership team and announced that Mark Scatterday was appointed CEO, removing his interim title, and Tim Conder was named president and chief operating officer. 

“We are focusing on our technology and innovation businesses,” said Scatterday. “Today, we are one of the largest providers of hardware, software, and services to the global cannabis industry and we are confident this is the right business model for long-term success.”

“The initial idea for Hello Again came out of our own challenges in navigating the experience of menopause without access to powerful holistic remedies,” said co-founders Carrie Mapes and Patty Pappas. “Once we learned about the cannabinoid system and its role in achieving and maintaining homeostasis in the body’s systems, we immediately realized that cannabis was uniquely suited to address the symptoms of menopause and aging.  We were fortunate to be supported and informed by numerous doctors and professionals in the fields. As a result, Hello Again has been specifically formulated to help women in every phase of menopause.”

OILFF) was granted its 13th patent by the Canadian Intellectual Property Office. This newly granted patent covers “a proprietary closed loop chilled solvent feed apparatus for cannabinoid extraction.” The company looks to continue obtaining patents in the cannabis sector throughout the U.S. and Canada. 

Paul Pedersen, CEO of Nextleaf Solutions, commented “Given the oversupply of lower-grade dried cannabis in legal markets, we believe extractors that are able to efficiently process biomass into distilled THC and CBD oils at scale will be well-positioned as the industry moves into cannabinoid-infused products. Through our patented technology, we figured out a system that is both efficient and effective as we look to turn oversupplied lower-grade cannabis into revenue.”

“Pennsylvania’s mandated research program is significantly important for patients and the medical cannabis industry and we are honored to be able to contribute to this vital research,” said Joe Lusardi, Chief Executive Officer of Curaleaf. “Pennsylvania will be the 15th state where Curaleaf operates. In addition to our high quality products, we will bring over a decade of cannabis experience to patients in the state.”

Top Stories Of The Week

Check out the top stories on Benzinga Cannabis this week:

  • 30-Year Industry Veteran From Constellation Brands Joins Cannabis Wine Maker House Of Saka
  • Martha Stewart Will Launch CBD Products For Animals: Here’s What You Need To Know
  • Tim Seymour Compares Aurora Cannabis And Canopy Growth, Sees Path To Profitability
  • Here’s How Much Investing 0 In The 2018 Debut Of Aurora Cannabis Would Be Worth Today
  • THCV Is A Cannabinoid That Helps Suppress Appetite: Here Are 5 Cannabis Strains With High Levels Of THCV
  • From Berner And Snoop To B-Real And Drake: A Timeline Of The Rappers With Their Own Weed Brands
  • Study Reveals The Impact Of Marijuana Legalization And Increase In Consumpion On Heart Health
  • Study Reveals The Impact Of Marijuana Legalization And Increase In Consumpion On Heart Health
  • 2 Leading Cannabis Companies Open Up About Their Successful Partnership
  • A Snapshot Of America’s Medical Marijuana Markets: California
  • Biggest Cannabis Investing Conference To Hit Florida Begins Next Week
  • Kentucky House Passes ‘Tightest Medical Marijuana Bill In The Country’; Now It’s Up To The Senate
  • CBD: A Year In Review And A Look Ahead

Events Calendar

  • The Week In Cannabis: Stocks Finally Back In Green Despite Mixed Earnings Results
  • The Week In Cannabis: Corporate Turmoil, Mass Layoffs And Stocks In Red
  • The Week In Cannabis: MedMen And Sundial Lose Their CEOs, Santa Cruz Gets Trippy And Much More
  • Written by homegrownreview

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    The Week In Cannabis: Bloomberg Moves Forward, Trump Stays Put, And More On Markets – Benzinga