Taking stock
The Motley Fool looks at four catalysts that could help make or break cannabis stocks this year.
News
Marijuana 2.0
Axios looks at Colorado House bill 1090, which takes effect next month. The new law permits investment opportunities for publicly traded companies, venture capitalists and private equity firms, which were previously barred.
The Senate Committee on Banking, Housing and Urban Affairs last week ushered in industry leaders and advocates to testify about the challenges cannabis companies face trying to get basic banking services in states where medical or recreational marijuana is legal. Those testifying urged lawmakers to change federal laws so the industry could access traditional financial services.
While the hearing was the first-of-its-kind in the GOP-controlled Senate, passing federal legislation still remains an uphill battle. Except for the committee chairman, U.S Sen. Mike Crapo, R-Idaho, none of the other GOP committee members attended the hearing. He urged lawmakers to change federal laws to give the budding industry access to traditional financial services.
Related:
Rob Nichols, President and CEO of the American Bankers Association and Jim Nussle President and CEO of the Credit Union National Association, co-authored an Op-Ed calling on Congress to pass marijuana banking legislation.
With the STATES Act and SAFE Banking Act, the cannabis lobby is on track to break a new record.
U.S Sen. Cory Gardner continues to urge the federal government to pass the SAFE Banking Act and the STATES Act:
What a Difference a Year Makes
Last week, in a standing room only, boiling hot room, Gov. Jared Polis signed six pro-cannabis bills into law.
Up first, a new law that opens up Colorado’s cannabis industry to outside investors for the first time. The measure was vetoed last year by then-Gov. John Hickenlooper.
Two stories below, that coincidentally quote Chuck Smith and Colorado Leads, shed some light on the new law.
“If everything goes as expected, Colorado legal cannabis industry is about to get a major windfall,” wrote Forbes.
Read More »
“The law is expected to bring new cash flow into Colorado as well as marijuana products from companies that previously were unable to do business in the state,: wrote Marijuana Business Daily.
Article Here »
Polis also signed social consumption legislation that creates a new license for cannabis retailers to sell marijuana products that could be consumed in a designated hospitality zone. Authorized medical cannabis shops will be able to deliver marijuana to patients starting in January 2020 under another bill. Recreational cannabis dispensaries will be able to make deliveries to adults 21 and older starting in January 2021. The social use and delivery proposals require that local communities opt in before businesses will be allowed to offer those services.
Read More »
Business News
One person’s trash is another’s treasure
There is an emerging cannabis sector that turns plant refuse and post-extraction leftovers into marketable products that range from animal bedding to construction materials.
If the U.S. legalized cannabis today…
It would be a $28 billion market, growing to $41 billion by 2028, according to Barclays analysts. They also found that marijuana tax revenues are already ahead of alcohol tax revenues in Colorado, Washington state and Nevada.
Note to investors: Be optimistic, but careful
The marijuana industry has strong potential especially after legalization for recreational and medicinal use. However, investors should be careful as several industry stocks have already skyrocketed even as the industry has been tagged as highly volatile.
Business News
Good news for those seeking investors
A poll found that 46% of U.S. adults would consider investing in the marijuana industry.
View the Poll »
Bank of America began covering marijuana stocks.
Pinnacol Assurance released its first-ever public data analysis of safety in Colorado’s cannabis industry.
“As a whole is relatively safe compared with other cultivation, retail and manufacturing jobs in Colorado.”
Dave Martyn, president of the Compass Cannabis chain of Canadian dispensaries…
sat down with Peter Miller, CEO of cannabis branding and packaging company SLANG Worldwide. When discussing exactly what the future of the global cannabis industry will look like, both Miller and Martyn suggested companies look to the past. Industry models in recreational cannabis forerunners like Colorado, Washington and of course Canada, serve as examples of what works.
Check it Out »
Hometown reporter and cannabis industry hits national mainstream news as a legitimate beat
Former cannabis reporter Alicia Wallace from The Denver Post is headed to CNN for their new cannabusiness coverage. CNN states: “CNN Business launches a new content initiative focused on one of the most dynamic growth industries in America: the cannabusiness sector. The next generation of entrepreneurs, investors, and consumers are captivated by this storyline, and CNN Business is making a new commitment to cover every aspect of the cannabis industry, from innovation to regulation.”
Key Colorado House Panel Advances Bill Allowing Public and Private Investment in Cannabis Industry
The Colorado House Finance Committee unanimously advanced a bill that would open up the state’s $1.5 billion-a-year recreational and medical marijuana industry to new sources of public and private capital.
Committee members also adopted an amendment to the bill that would seek to address social equity issues in Colorado’s cannabis industry, including increasing opportunities for minority – and women-owned businesses. Read More »
Related story ICYMI:
CPR: Colorado Cannabis Wants To Go Public, But Not Everyone Is On Board
Most people contacted by CPR in and outside the industry think public trading is a good idea. Gov. Jared Polis supports it. A similar bill last session passed easily through a bipartisan legislature, before former Gov. John Hickenlooper vetoed it over fears of tracking ownership. CPR Story »
Headlines
Tour Bus Flap
Denver crackdown on cannabis tour bus heads toward trial.
In Training
The state Marijuana Enforcement Division now has a list of approved courses and trainers for cannabis industry employees.
Cannabis Votes
Four weeks from now, voters in Michigan, Missouri, North Dakota and Utah will all be deciding measures that would lift legal restrictions on marijuana — but all in different ways. And Colorado, too, has another marijuana-related issue on the ballot.
Holy Money
The first private equity firm focused exclusively on the cannabis industry has minted 3 new billionaires.
Word Games
Journalists covering cannabis industry struggle with terminology.
Read the Story »
Vape and Play
New vape lounge promises board games, coloring books, puzzles and more.
Opinion
Colorado cannabis industry needs more investment dollars
Lewis Koski, the former director of Colorado’s Marijuana Enforcement Division, writes about why Colorado needs to loosen its investment regulations.
“The Colorado cannabis market has been viewed by many as a model for legalization. That model is at a critical turning point as other states and countries close in on the accomplishments achieved in Colorado. Large markets like California, Massachusetts, and Canada are well down to the road to implementing legalization and doing so with an open mindset that seems to be slipping in the Centennial State.”