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.
10. Illinois Racks Up $3.2 Million in Adult-Use Sales on Opening Day
2 U.S. MSOs Led the Way Serving Thousands of Customers
The first day of adult-use cannabis sales in Illinois went extremely well as it was reported that the Land of Lincoln produced day one sales of $3.2 million.
9. Edibles, Vapes and Tea Coming to Legal Ontario Cannabis Shops Monday
Ontario Cannabis Store Said 59 New Products Will Hit Store Shelves on Monday
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.
8. ‘A Harsh Drop to Reality’: Why 2019 Was a Horrible Year For Pot Stocks
2019 Was Supposed to Be a Banner Year for the Cannabis Industry, It Turned to Be Anything But
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.
READ FULL 2019 CANNABIS ARTICLE
7. Five U.S. Cannabis Industry Predictions for 2020
2020 is Shaping Up to Be a Year Filled With Changes and Transitions for the Cannabis Industry
From scouring the web and reading through the opinions of different cannabis experts, here are 5 of the most prominent cannabis predictions of 2020.
READ FULL U.S. CANNABIS 2020 ARTICLE
6. Ontario Cannabis Store is Reducing its Prices to Compete With Illegal Pot Shops
The OSC is Selling the “Original Stash” Strain for Just $5
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.
READ FULL ONTARIO CANNABIS ARTICLE
5. High Demand Prompts Launch of Europe’s First Cannabis ETF
Similar Products in North America Have Proved Popular Despite a Poor Year for the Sector
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.
READ FULL UK CANNABIS ETF ARTICLE
4. Florida Marijuana Lawsuit: ‘Stealth Deadline’ Means Legalization Might Miss 2020 Ballot
Further Complicating the Matter, Petitioners Must Submit Signatures Ahead of February 1 Deadline
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.
READ FULL FLORIDA LEGALIZATION ARTICLE
3. Kansas Governor Says She’d Sign Marijuana Legalization Bill
But Medical Cannabis is Her Priority
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.
2. Prediction: Canada’s Cannabis Market Will Recover in 2020
2019 Was a Rocky Ride for Cannabis Investors, First Real Losing Year Since the Sector Rose to Prominence
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.
READ FULL CANADA CANNABIS 2020 ARTICLE
1. These U.S. States Now Have Legal Weed, and More Could Follow Suit in 2020
Support For Legal Pot Hit a New High in 2019, With 65% Saying Marijuana Should Be Legal
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.
READ FULL U.S. LEGALIZATION ARTICLE
Also Read: Cannabis Countdown: Top 10 Marijuana Stock News Stories of the Week
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