Welcome to the Cannabis Countdown. In this week’s rendition, we’ll recap and countdown the top 10 marijuana industry news stories for the week of December 30th, 2019 – January 5th, 2020.
Without further ado, let’s get started.
Dozens of new marijuana products will be available in retail shops in Ontario starting next week, the province’s cannabis distributor said Friday, warning supplies would be limited and the newly legalized edibles could sell out within a week.
The legal cannabis industry here in Canada kicked off the year with lofty expectations. It seemed that finally, policymakers had created a regulated environment that could see products compete with — and hopefully eliminate — the illicit market while ushering in an exciting new industry that would result in thousands of jobs and billions of dollars in consumer spending. Then the bubble burst.
From scouring the web and reading through the opinions of different cannabis experts, here are 5 of the most prominent cannabis predictions of 2020.
It may no longer be expensive to go the legal route. Ontario Cannabis Store (OCS) has finally decided to reduce the price of 50 different marijuana products. The retail company said during a press conference on Friday, January 3, 2020, that it now has a gram of weed available for $5.
European savers will soon be offered their first opportunity to invest in an exchange-traded fund focused on the fast-growing legal marijuana industry. The Cannabis ETF will be listed in Germany and made available to investors in the UK, Italy and Ireland.
Organizers behind an effort to place a marijuana legalization measure before Florida voters this November are suing the state over what they say are unconstitutional hurdles in the way of ballot access.
The governor of Kansas said on Thursday that she’d likely sign a bill to legalize marijuana in the state if lawmakers sent one to her desk.
The declines were staggering. From its peak of over $70 per share in May 2019, Canopy Growth’s (TSX: WEED) (NYSE: CGC) (FRA: 11L1) has lost some 60% of its market value. After such dismal results, it’s understandable investors might be bearish on the sector. I know I sure was. But I’ve since softened my stance. Here’s why I think the sector could see a recovery in 2020.
Recreational marijuana use became legal in just one more state, Illinois, with the start of the New Year on Wednesday. More states could follow suit in 2020, with several states set to put recreational marijuana on the ballot.
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