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Bigger isn’t always better for cannabis companies trying to survive the pandemic
Crain's Chicago Business
“Specialized operations and a narrow geographic footprint are buoying marijuana providers... Companies with a tighter focus have proven more resilient, such as Chicago-based Green Thumb Industries Inc., up 51% this year.”
Potential cannabis legalization curve balls
New Cannabis Ventures
It remains unclear when federal legalization of cannabis will take place. Instead of a focus on full scale legalization, there are several potential near-term catalysts, such as access to traditional banking services, which could be monumental for the industry. “Many investors believe an investment in the sector is a bet on near-term federal legalization, but we think it’s really a bet on the status quo: robust state markets with no federal interference.
Pennsylvania dispensaries see 70% more patients during pandemic
In the last seven months Pennsylvania’s medical cannabis dispensaries have sold $385 million in product, nearly as much as the $400 million sold in the state in the previous two years combined.
California marijuana sales climbing despite coronavirus, state report shows
Marijuana Moment
California took in more than $200 million in cannabis tax revenue during Q2, slightly exceeding Q1 tax revenue figures despite the emergence of COVID. All told, the state has brought in $1.45 billion in marijuana tax revenue since retail sales were implemented in 2018.
Florida quietly publishes medical marijuana edibles rules
Tampa Bay Times
An emergency ruling last week has allowed for the manufacture and sale of medical cannabis-infused edibles in Florida, effective immediately. Trulieve is already first to market with edibles in the Sunshine State, just one week after the regulations were released, thanks to its 10,000 sq ft commercial-grade kitchen facility.