Cannabis Friday News: 3 Cannabis Stocks to Avoid Like the Plague in September

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Colorado Cold Snap Could Disrupt State's Marijuana Industry

Coloradosun - Jon Vaught, CEO of a cannabis biotech firm Front Range Biosciences, said the temperatures below freezing Tuesday and Wednesday combined with snow were "catastrophic for growers."

The temperatures below freezing Tuesday and Wednesday combined with snow were “catastrophic for growers.”- Coloradosun

3 Cannabis Stocks to Avoid Like the Plague in September

fool - Oversupply, pricing headwinds, inventory writedowns, and retail store closures due to COVID-19 containment measures -- these things and more have meant a tough year for the legal marijuana market worldwide. 

But business results -- good or bad -- are not the only metric investors should consider when picking cannabis stocks. These three extremely overvalued cannabis stocks are among those investors would be wise to avoid: Cronos Group;GW Pharmaceuticals;Organigram.

Fewer Banks and Credit Unions Are Serving the Cannabis Industry

ganjapreneur - The number of banks and credit unions working with state-legal cannabis companies has dropped to 695 nationwide, according to a report from the U.S. Treasury's Financial Crimes Enforcement Network (FinCEN). It's the lowest number of financial institutions to serve the industry since May 2019.

Cannabis Dispensary Numbers Climb to 19 in Kalamazoo

wwmt - Considering marijuana provisioning centers that have already opened or are in planning stages, a total of 19 locations in Kalamazoo have received licenses.

Deputy City Manager Jeff Chamberlain confirmed those numbers. What is unclear, however, is how much of a boost those 19 new businesses will provide to the city's tax base.

State Issues Bangor's First Adult-use Cannabis Licenses

Pressherald - Bangor gets its first adult-use grower, Allure Cultivation, and will see a medical marijuana shop, Firestorm, convert to recreational sales on Oct. 1.

The state has licensed a fourth adult-use cannabis grow and announced plans to permit Maine’s third retail shop. Both are located in Bangor and have the same owners.

Marijuana Groups Launch Campaigns to Reach Voters

njspotlight - In November, New Jersey voters will get to decide whether or not marijuana should be legal for recreational use. Axel Owen is the campaign manager for NJ CAN 2020, a coalition made up of advocacy groups and members of the cannabis industry who are campaigning for legalized marijuana for people 21 and over.

Canadian Pot Stocks Still Have a Great Deal of Potential

streetinsider - In the past six months, cannabis investors have focused mostly on U.S. marijuana stocks. This includes pot stocks like Green Thumb Industries Inc. (OTC:GTBIF) and Planet 13 Holdings Inc. (OTC:PLNHF). And while these pot stocks do have potential, investors seem to have lost focus on the Canadian cannabis industry. On September 4th of this year, Canada announced the nationwide numbers for its cannabis industry. During this announcement, the country stated that black-market marijuana use is down by around 5%. In addition, more than CA$800 million was spent on marijuana both medicinal and recreational in that same time period.

Republican Chairmen Formalize Opposition to Marijuana Legalization

Newjerseyglobe - New Jersey’s Republican county chairs are united in their opposition to a ballot measure on marijuana legalization.

The Republican County Chairmen’s Association on Thursday unanimously voted to adopt a resolution opposing the referendum and urging their supporters to vote it down.

"We also are strongly opposed to using our State's constitution to legalize pot. Pro-pot legislators couldn't get a bill passed, so, instead, they're trashing our constitution," Hudson County Republican Chairman Jose Arango said.

Republican State Chairman - Newjerseyglobe

Booming Legal Marijuana Market Forecasts Strong Season for Premium Growers

Streetinsider - As the cannabis industry matures and is again heating up — a recent eye-popping report by Data Bridge Market Research projects that the global legal marijuana market will explode to more than $90 billion by 2027. Companies operating in the sector are looking to capitalize on opportunities the multibillion-dollar space offers. Recognizing the often submarginal quality of available product as well as high cost of development and land acquisition, Pac Roots Cannabis Corp. (CSE: PACR) (PACR Profile) utilizes state-of-the-art genetics to ensure premium-quality products. Using science and key strategic partnerships, Pac Roots intends to eliminate the quality and cost barriers to success and carve what could be profitable niche in a booming market.

First Melrose Recreational Marijuana Sales Begin

patch - Garden Remedies, the medical marijuana retailer on the outskirts of Melrose, will celebrate the first recreational adult-use sales in the city Saturday.

Garden Remedies is offering sales for both medical and recreational usage from the same facility on Broadway near Lowe's and Town Line Luxury Lanes bowling. There will be a socially distanced ribbon-cutting ceremony at noon.

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