The cannabis industry is already a billion-dollar industry and set to grow exponentially. In this article, we take a look at the most surprising aspects of marijuana legalization in the US thus far.
The “cbd stocks to watch” is a list of the top cannabis stocks that investors should keep an eye on. The list includes companies such as Canopy Growth, Aurora Cannabis, and Tilray.
Halloween is just around the corner. The cannabis business prepares for the start of the Christmas shopping season, which is just around the horizon, while costumed revelers prepare for a weekend of festivities.
Green’s article first published on Benzinga. The collective imaginations of company executives are dominated by Wednesday, Black Friday, and December holiday shopping sales. However, Halloween is not just a time to expect a boost in edibles sales, but also a chance to reflect on the industry’s past pranks and treats.
While the market’s rise is pleasing, several people who talked with Benzinga believe that federal reform is a ruse that no American should be subjected to.
The Biggest Treats: A Growing Cannabis Market
In general, respondents have avoided referring to cannabis enterprises as “tricks” or “treats” in recent years. Instead, the majority of attention was focused on market and legislative changes throughout most of the United States.
Green Chip Stocks creator Jeff Siegel said state-level legalization is driving the industry’s growth, something he didn’t anticipate to happen so rapidly but is pleased to see.
“I honestly expected it would take much longer to get to where we are today,” Siegel, who enjoys infusing his own chocolates, said.
Expanded cannabis reform is proving to be beneficial in several areas. The transition from medicinal to adult-use marijuana was a treat for Nevada, according to Roger Bloss, CEO of MJ Holdings Inc.
Bloss, a black licorice aficionado, said, “Medical cannabis alone could not satisfy the hotel and tourist business in Las Vegas.”
Nevada sold over $1 billion in medicinal and adult-use goods between July 2020 and June 2021, according to a report released by the Nevada Cannabis Compliance Board (CCB) and the state tax department in October 2021.
MSOs in the United States are on the increase, along with specific states. The introduction of lucrative American brands, according to Michael Sassano, CEO of Somai Pharma, is good for the market.
“The greatest factor to lend legitimacy to the cannabis business over the past four years has been the development of legitimate firms that challenge corporate American norms,” he said.
Sassano, who enjoys full-spectrum strain-specific live resin gummy bears, has a list of MSOs that includes:
The greatest pleasures, according to Monica Pina, VP of investor relations at Cliintel Capital Management Group, are businesses that build emotional relationships with customers.
“Companies with values that customers connect with and brands that consumers are acquainted with will attract the most retail investors,” said Pina, who enjoys candy corn as a decorative item alone.
She believes that corporations should use their marketing budgets on ensuring brand consistency and loyalty in order to maintain market share. If the firm is successful, it should attract the attention of ordinary investors.
Pina also said that industrial incentives are still on the way. “The cannabis industry’s most important stock treats are yet to come.”
The Biggest Swindle: Reforming Federal Regulations
Almost every source agreed that the greatest important industry ploy thus far has been the absence of government reform. While many believed that change would take a long time, sources expressed their dissatisfaction.
“Not only has almost every state legalized cannabis to some extent, but there is over $17 billion in unbanked revenues; yet, the federal government has not moved the needle to provide safe banking for all, at the very least,” Sassano explained, adding that he had hoped that Democrats taking control of all three houses would sway reform, but that hasn’t happened.
“They could have easily passed basic decriminalization and banking, but instead opted to collapse the whole market by providing nothing but hot air and dithering,” Sassano said, stressing that the situation briefly drove away some investors.
Bloss feels that one side of the aisle wants to legalize marijuana while the other does not, resulting in a seemingly unending news cycle.
“Positive news concerning federal banking was reported on last week. The next week, there is favorable coverage of federal legalization “He believes this would affect marijuana brands.
Bloss went on to say that the challenges he’s faced as a CEO made his work more challenging.
“It stymies us when we decide to build a comprehensive vertical to produce, process, distribute, and dispense cannabis, for example. Timing is crucial if I’m going to invest in cultivation, distribution, processing, and dispensing “Bloss said.
As a result, Pina views corporations whose tactics are based on rules to be among the market’s largest scam artists.
“Changes take longer than expected—if the intended change is accomplished at all,” she observed. Pina said that she loves organizations that have a business plan that can shift quickly.