- According to data firm BDSA, between January and September 2020, Connected and sister brand Alien Labs generated more retail revenue selling branded flower -- nearly $50M -- than any other company in California. (Value brand Pacific Stone was a distant second.)
- Connected says its premium indoor grown flower wholesales for about $4,400/lb, roughly twice the state average.
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Much of the cannabis industry supported Joe Biden’s presidential campaign, and Democrats' efforts to regain control of the Senate. Now that both have happened, what can the cannabiz expect from the new administration and Congress?
Biden is one of the few Democrats with a national profile who hasn’t endorsed full legalization. But he has called for decriminalization, legal MED and for states to be able to make their own decisions about REC.
- This leaves big questions for weed businesses who hope to operate as a regulated industry akin to tobacco or alcohol.
Arizona, one of the four states to legalize REC in November, is on the brink of opening its market to all adults. In a region where full legalization has become fairly routine, the state has attracted plaudits from the industry for its business-friendly climate and what insiders describe as an attentive and well-run regulatory process.
- The Grand Canyon State legalized MED in 2010 and saw dispensaries do roughly $800M in 2020 sales. The pace of its growth could be closely tied to how much the pandemic allows for tourists to return.
Plus: AZCentral has more on the state's new REC market.
Here's what else is happening:
- In partnership with The Parent Company, Jay-Z is launching a $10M fund to boost equity businesses.
- In Massachusetts, dispensaries are suing regulators over a regulations that would limit delivery licenses to equity businesses.
- In New York, new groups have registered to lobby on cannabis and hemp.
Cannabis Wire (Paywall)
- Hoban Law attorney Steve Schain explains why cannabis has once again been shut out of $900B in federal small business relief.
- PotCo's are wrestling with their Covid vaccine policies for employees.
- A new pathogen is damaging pot crops.
- A study found marijuana use by teens and young adults with mood disorders is linked to increased risk of self-harm and suicide.
- Another study found cannabis use is associated with reduced alcohol intake among treatment seeking drinkers.