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(2021) ᐉ Cannabis News Wrap-up: December 2020 ᐉ CBD Magnates

(2021) ᐉ D ecember 2020 completed the year with some quite eventful cannabis news both in America and throughout the world. The United States Congress passed

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D ecember 2020 completed the year with some quite eventful cannabis news both in America and throughout the world. The United States Congress passed the MORE Act, Illinois expunged half a million cannabis charges, the UN voted to reschedule cannabis, and research studies even more sealed the advantages of marijuana. Join us as we run back the essential cannabis occasions of the last month of 2020.

The MORE Act Passed the United States Legislature

On December fourth, the United States Congress voted to pass the Marijuana Chance Reinvestment and Expungement (MORE) Act by a vote of 222-158. The MORE Act formally eliminates cannabis from the federal Controlled Substances Act. If travelled through the narrowly-Democratic-controlled Senate and signed into law, the MORE act would expunge all nonviolent federal cannabis convictions quickly. All arrests, charges, and convictions for anybody captured up in the legal system over ownership of marijuana would instantly vanish from their record.

House of representatives

Now that the MORE Act has actually travelled through your home of Representatives it should now make its method through the senate. picture credit

Moreover, this would all take place at no charge to the impacted person for any processing or legal charges. The MORE Act would likewise enable military veterans to get medical marijuana suggestions from the Department of Veteran Affairs physicians. This would release them from needing to check out physicians that might not be covered by their insurance coverage or risking their existing protection. The act would likewise develop financing for social equity programs that reinvest in neighborhoods targeted by police and the legal system throughout the damaging War on Drugs.

Lastly, the act would develop much better banking and tax laws at the state and federal level and enable far higher liberty in marijuana research study. This might result in a monetary boom duration as cannabis companies lastly have access to federal credit lines, significant banks, and charge card processing.

Obviously, the MORE Act will more than likely get captured up in the Senate either due to the filibuster or a couple of anti-marijuana Democrats, however it’s a strong base in case the political tides shift. Bulk Leader Chuck Schumer wants to bring it to the flooring for a vote and there is a great deal of popular assistance that simply may press it through. Ballot Matters. Keep in mind that in 2022.

Illinois Expunged Half A Million Cannabis Convictions

In great news for the people of Illinois tossed into the legal system for non-violent drug offenses, Guv J.B. Pritzker doubled down on his preliminary pardon of 11,000 marijuana convictions previously in 2020 by expunging 500,000 low-level cannabis– associated rap sheets. While specific counties have till 2025 to finish this expungement, the Guv’s action comes 4 years ahead of schedule and functions as a signal to city governments to get carrying on expunging all records throughout the state. The expungement releases half a million people from the life-long drag that a criminal conviction can have on their future task and financial potential customers. This not just assists those with a rap sheet however their households too.

This social justice and racial equity procedure is continuous and additional legislation is being passed to offer complimentary legal help to Illinois people that will enable them to challenge their convictions and additional expunge their records without sustaining additional expense. All in all, this is an excellent action on the course to corrective justice when it pertains to marijuana convictions. It needs to constantly be kept in mind that these convictions and charges have actually traditionally fallen disproportionately upon individuals of color which more requirements to be done prior to there can be real racial justice and equity in this nation.

UN Commission Descheduled Cannabis

The UN Commission on Narcotics voted by a narrow 27-25 bulk to deschedule cannabis from its 1961 category as an Arrange 4 drug to an Arrange 1. This implies that cannabis will no longer be thought about by the worldwide company as one of the most extremely addicting and harmful drugs on the planet without any medical worth. It will now be thought about among the most extremely addicting and harmful drugs on the planet with some medical worth that ought to be studied.

Flag of the United Nations

While the UN’s reclassification is just a little action in the best instructions, it will ideally unlock for medical research study. picture credit

While this might look like a little success in regards to the world’s views on marijuana, alleviating the limitations on medical research study into the advantages of cannabis provides more proof to cannabis supporters throughout the world that marijuana ought to be legislated. Regardless of the truth that all other cannabis suggestions stopped working, consisting of legalizing CBD, this still counts as advance when it pertains to marijuana‘s development in the 21st century.

Research Study Revealed Statewide Legalization Does Not Cause Greater Cannabis Usage Amongst Teenagers

According to a current research study by the University of Michigan, the self-reported rates of cannabis intake by teenagers and teenagers has actually not increased due to the statewide legalization of marijuana. In truth, the research study revealed that rates of marijuana usage have not actually increased over the bulk of the last years. If anything, given that the very first US states legislated leisure cannabis sales in 2012 (Colorado and Washington), life time usage by teenagers and teenagers has actually visited 3 percent throughout the country. This research study follows a lot of other research studies that have actually been carried out, revealing that worries of increased cannabis abuse due to legalization have actually been unproven. This, obviously, will not stop these exact same worries from being raised by worried legislators and people in every state that tries to legislate.

A Canadian research study released in the journal Professional Reviews in Pharmacoeconomics & & Result Research study reports that over one-third of Canadians going through cancer treatment utilized cannabis to either assistance reduce their discomfort or increase their cravings.

This is a bigger portion than in surrounding United States, where just one-fourth of cancer clients taken in marijuana as part of their treatment. Of that quarter, almost 10 percent are senior. While it’s not precisely an originality that marijuana is being utilized as part of a client’s medical treatment, these research studies continue to show that cannabis has huge capacity in the treatment of all kinds of medical problems, putting additional pressure on legislators to legislate it.

The Conclude

As 2020 ends, December was a month to commemorate when it pertains to cannabis‘ long push towards around the world approval and legalization. The truth that a cannabis decriminalization law travelled through the United States Congress would have been unthinkable even 5 years earlier. States such as Illinois are strongly expunging non-violent drug offenses, which is likewise great news for those people captured up in an unfair and inefficient war on drugs. The United Nations altering their views on the healing advantages of cannabis, even at a glacially sluggish rate, still reveals that the long legal freeze when it pertains to marijuana approval is defrosting. One can hope that research studies such as the University of Michigan and Canadian research study journals will even more press the view that marijuana has little to no unfavorable results both clinically and socially and ought to be legislated.

Did we lose out on any newspaper article? Share any additional news you desire others to check out in the remarks listed below.

Image Credit: Matt Popovich (license)

Lastly, the act would develop much better banking and tax laws at the state and federal level and enable far higher liberty in marijuana research study. This might result in a monetary boom duration as cannabis companies lastly have access to federal credit lines, significant banks, and charge card processing.

Source: https://cbdmagnates.com/2021/01/27/cannabis-news-wrap-up-december-2020/

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Future Returns: Investing in the Cannabis Industry

As more states legalize the plant for recreational use, the sector presents both risk and reward

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“Over the long term if you pick the right horses in the sector, there’s still quite a lot of growth to be had,” says Matt Bottomley, equity research analyst at Canaccord Genuity in Toronto. Photo by Uriel Sinai/Getty Images)

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Several years ago Morgan Stanley did a poll of over 1,000 high-net-worth investors to see if they’d invest in legal cannabis. A full 65% said they were not likely to invest if cannabis were legalized in the next 12 months.

But Matt Bottomley, equity research analyst at Canaccord Genuity in Toronto, doesn’t hear this same level of objection to the industry today, and for good reason. “At the end of the day, I think the U.S. cannabis sector at maturity is probably US$80 billion to US$100 billion in sales,” he says.

The stigma once associated with cannabis has dropped off dramatically, and within the past month states including New York and Virginia, as well as Mexico, have either legalized it or announced plans to do so.

“You’re going to see it slowly, over the next years and decades transition from a more traditional consumer-packaged goods market,” Bottomley says. Presently, leading U.S. companies “are kind of doing everything in every market,” he says—from growing to producing, up to creating edibles and even operating retail in some markets. As legalization expands across the world, big pharma may look to get in on it, changing valuations.

Big-name companies trading in the U.S. such as Canopy and Tilray see their stock prices appreciate when pro-legalization stories hit the news. But because cannabis is still a Schedule I drug, meaning tightly regulated by the government, Bottomley says, “the fundamentals are not necessarily going to flow down to those types of companies.”

Meanwhile, leading American companies like Curaleaf or Trulieve trade on Canadian junior exchanges, less easily accessed by the overall U.S. retail investor market. He thinks there’s a tremendous amount of capital yet to come into this space. Many companies, he adds, are underserved by institutional investors as well.

“Over the long term if you pick the right horses in the sector, there’s still quite a lot of growth to be had.”

Here are three things Bottomley says to keep in mind when investing in the cannabis sector.

Take Stock of Your Risk Profile

Investors entering the cannabis market have to consider their risk thresholds. “All of our buys on cannabis stocks to date are all speculative buys, and we do have holds and sells as well,” Bottomley says.

The sector can be home to wild price swings where for weeks at a time stocks go in one direction, before pivoting and going the other way. If they consider a 2%-to-3% move in a day outside their risk threshold, it might not be for them. Especially because the “wild directions” stocks move in aren’t necessarily tied to company performance.

Bottomley says it also requires a lot of patience. “You really have to be comfortable about where you are on that growth curve and how far ahead of markets opening up—you want to invest your incremental dollar to get ahead of what could eventually be a very large push upward.”

Valuation is Relative

Cannabis is a sector where policy announcements about the future of legalization can cause stocks to move in the same direction, but investors can’t let that alone sway them. Even if every cannabis stock is moving up or down, and the shift seems uniform, Bottomley advises exercising caution.

Not every cannabis company has exposure to the same markets or regions. When looking at companies in the cannabis space, he says it’s necessary to see how they’re situated in markets relative to their peer group.

He offers the example of a Canadian company trading at 30 or 40 times its forward profitability metrics, or Ebitda (short for earnings before interest, taxes, depreciation, and amortization), but that lacks access to the U.S. market or other growth drivers.

“I prefer buying a company that’s trading at a lower multiple than that, but actually has that exposure,” he says. “That’s the first thing that I look at when I’m putting a rating to any of these companies that I cover.”

Understand the Management Team

For Bottomley, management teams and their philosophies are particularly important in the cannabis industry. “We’ve seen a lot of good case studies for huge success stories and a lot of case studies where things haven’t gone so well,” he says.

Prior to Covid-19, Bottomley went on a lot of site visits, meeting management teams. What benefits investors long term, he says, are companies that aren’t too aggressive with mergers and acquisitions, don’t overpay for assets and focus on core markets where they have competencies and market share. But this also means having good infrastructure, like call centers to support patients for medical cannabis companies, or adequate supply for and quantity of retail locations to gain market share.

“Management teams can be fairly aggressive with respect to their messaging,” Bottomley says, “and that’s fine if you can back it up, but I think that’s something investors have to be particularly careful of when they’re choosing which operators they want to back.”

“Over the long term if you pick the right horses in the sector, there’s still quite a lot of growth to be had.”

Source: https://www.barrons.com/articles/future-returns-investing-in-the-cannabis-industry-01619549824

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Cannabis Stocks: Why TLRY, APHA, OGI, GRWG, SNDL Stocks Are Getting High

Cannabis stocks like SNDL stock and GRWG stock are rallying today thanks to news that New York had legalized recreational marijuana.

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Cannabis stocks are on the rise today after some comments by Senate Democrats regarding legalization. Chuck Schumer and a constituency of cannabis supporters are pushing to get a federal bill passed as soon as possible. Meanwhile, New York joined the ranks of Washington and Colorado as the 15th state to legalize recreational cannabis.

multiple jars of different sizes carrying marijuana

Source: Shutterstock

Senate Majority Leader Chuck Schumer is reportedly drafting a bill with Oregon Sen. Ron Wyden and New Jersey Sen. Cory Booker. The bill will deescalate cannabis from the list of controlled substances. And, while it doesn’t specifically use the word “legalization,” it will give states the green light to draft their own legislation over the substance.

Democrat lawmakers’ pushes to draft marijuana legislation come in tandem with the huge news that New York is now the 15th state to legalize recreational cannabis. Gov. Andrew Cuomo is signing the bill Wednesday morning and says the state expects around $350 million in annual tax revenue from the law. The law also expunges marijuana-related convictions from records. This is a huge win for social equity, given racial disparities in arrests for marijuana-related offenses. In 2020, people of color represented 94% of all arrests. With this in mind, the New York Times reported that 46% of revenue from cannabis sales will go toward Black and Latino communities in New York.

Cannabis legislation is a longstanding partisan issue within Congress. However, legalization laws are passing in red states like Montana and South Dakota. It’s clear that some lawmakers are beginning to come around on cannabis. Democrats want to strike while the iron is hot to get this long-awaited legalization in place.

How the Big News Is Boosting Cannabis Stocks

All of this news has done wonders for cannabis stocks this morning. The industry has been long awaiting some news regarding legislation. Now, where stocks were slumping, they are now turning around and giving investors hope.

Some big winners among cannabis stocks today include names like Tilray (NASDAQ:TLRY), Aphria (NASDAQ:APHA) and r/WallStreetBets regular Sundial (NASDAQ:SNDL). Other gainers are OrganiGram (NASDAQ:OGI) and GrowGeneration (NASDAQ:GRWG).

TLRY stock, one of the fastest-growing companies in the cannabis industry right now, is seeing a 7% boost after the news. This is one of the best bets in the industry right now. APHA stock is also up by 7%, and is a great bet for investors as it prepares to merge with Tilray. SNDL stock, the cannabis option of choice for r/WallStreetBets, is seeing gains of 3% after all this news.

On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Democrat lawmakers’ pushes to draft marijuana legislation come in tandem with the huge news that New York is now the 15th state to legalize recreational cannabis. Gov. Andrew Cuomo is signing the bill Wednesday morning and says the state expects around $350 million in annual tax revenue from the law. The law also expunges marijuana-related convictions from records. This is a huge win for social equity, given racial disparities in arrests for marijuana-related offenses. In 2020, people of color represented 94% of all arrests. With this in mind, the New York Times reported that 46% of revenue from cannabis sales will go toward Black and Latino communities in New York.

Source: https://investorplace.com/2021/03/cannabis-stocks-why-tlry-apha-ogi-grwg-sndl-stocks-are-getting-high/

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As New York moves toward marijuana legalization, experts warn it may lead to more overdoses in kids

Legalizing marijuana in New York could lead to more overdoses in kids, experts say.

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Experts say parents should be aware of the dangers of accidental consumption.

Experts say there has been a recent rise in pediatric exposures to cannabis, and “marijuana edibles” are landing children in emergency rooms across the country.

“We are seeing these edible exposures more and more often in younger kids, they come in completely sedated after getting into brownies at a party or getting into edibles that belong to their teenage siblings,” said Dr. Payal Sud, the medical toxicologist and associate chair of the emergency department at Glen Cove Hospital.

According to a study published by the American Academy of Pediatrics, poison center calls associated with unintentional pediatric exposures to cannabis have increased in the United States from 2017 to 2019, largely as a result of the accidental consumption of edible cannabis products.

“Lots of edibles look just like candy. From the outside it looks like candy and when you unwrap it, still candy — but they are infused with THC, the active ingredient in marijuana,” Sud said.

According to Sud, the dangerous thing about these edibles is that they are made to taste good. “People don’t feel the effects right away,” she said. “So, when a child bites into them, they may end up eating a lot more than a typical dose and it will end up hitting them all at once.”

Sud said that although death from eating marijuana edibles is extremely rare, very young children might experience extreme sedation, depending on the dose consumed.

“But even if the exposure doesn’t result in a fatality, having a child be subject to testing and hospitalization in general is not without risk,” Sud said.

This is a trend that has been most notable in states where marijuana use is already legal.

A study published in JAMA Pediatrics revealed that after legalizing recreational marijuana in 2014, Colorado saw an average 34% increase in cannabis-related poison control cases per year.

“Parents shouldn’t be surprised when they go to the homes of their friends, families or neighbors and marijuana is openly being used once it has been legalized,” said Dr. David Lee, a medical toxicologist, emergency medicine physician and retired professor at Hofstra-Northwell Medical School.

Lee expects more marijuana products to be left out in the open at people’s houses because users may no longer feel compelled to hide them. But it’s these behaviors what could put kids at an increased risk of exposure.

According to toxicology experts, parents should be aware of the dangers of accidental consumption.

“You’d be pretty surprised at the high concentrations of THC one little piece of candy can have,” said Dr. Nima Majlesi, the director of medical toxicology at Staten Island University Hospital and an emergency medicine physician.

He said that sometimes it’s not intuitive. “In some cases, you might think a single dose is one chocolate bar, but in reality, one dose is just a tiny little piece of that chocolate bar,” Majlesi said.

Majlesi added that marijuana edibles should be treated just like any other medication kept in the house: They should be stored in a lock box, especially if you have toddlers or infants.

“Think about them like your mom and dad’s blood pressure medications” he said. “These things are made to look appetizing, and kids don’t know any better, so locking them up is probably the best way to go. I would encourage those safety precautions with all toxic substances in the house.”

Dr. Stephanie Widmer, an emergency medicine physician and medical toxicology fellow in New York, is a contributor to the ABC News Medical Unit.

Editor’s note: This story has been updated to clarify Sud’s comments about the possible effects of children eating marijuana edibles.

ABC News

Source: https://abcnews.go.com/Health/york-moves-marijuana-legalization-experts-warn-lead-overdoses/story?id=76712674

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