Cannabis stocks outperformed the general market in the wake of a looming trade war. Politicians and celebrities alike are changing stances and perceptions about the industry. New markets are struggling to keep up with demand, and even CBD may find itself in the crosshairs of regulators again.
Here are the top stories for the growing cannabis industry for the second week of April 2018.
by Jimi Devine, Cannabis Now
On April 11, 2018, cannabis investment firm Acreage Holdings announced former Republican Speaker of the House John Boehner joined its advisory board. The announcement surprised many, as the conservative was staunchly anti-cannabis during his tenure in Congress. He vehemently opposed any pro-pot legislation and now says he’s had a change of heart. If only more politicians would smoke some weed and calm their asses down.
by Burgess Powell, High Times
The cannabis industry has a lot of famous celebrity endorsers, from Snoop Dogg and Sarah Silverman to Cheech Marin, Willie Nelson, and more. For several seasons, TJ Miller portrayed Erlich Bachman, Silicon Valley‘s resident pothead with zany ideas. Since leaving the show, he now finds himself being charged for falsifying a bomb threat on a train he was riding on. Authorities found no evidence of a bomb, instead learning Miller was drunk and had a hostile exchange with a woman on the train.
by J Philip, Marijuana Stocks
For the past 5 years, marijuana stocks proved to be fruitful for investors willing to take the risks. President Trump’s recent trade war with China hit the general stock market hard, but some cannabis stocks thrived, despite rising tensions. These include Canopy Growth, Horizons Marijuana Life Sciences, and more. In fact, the United States Marijuana Index climbed 5 percent by the end of the day of Trump’s Thursday announcement.
by Aaron G Biros, Cannabis Industry Journal
California’s recreational cannabis market has been live since the beginning of the year, and it’s very slow moving. Rumors are circulating that archaic licensing laws and local regulations are bottlenecking the cannabis supply. Northern California is known as a global leader of cannabis, and there’s no reason for there to be any supply issues in the state. However, volatile pricing and the ever-changing regulatory environment is strangling the industry.
by Kristen Nichols, Marijuana Business Daily
London-based GW Pharmaceuticals is awaiting a decision from the U.S. FDA to legally produce to the first cannabis-derived medicine. Epidiolex is used to treat epilepsy, and its approval would be the first signal from the U.S. federal government that cannabis has medicinal uses. The DEA is sure to appeal any approval, but the FDA is moving on with a public hearing on April 19. A final decision is expected by late June.