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☆ The Wedding That Became a Music Festival
▼ + stars: | 2024-06-21 | by ( Sadiba Hasan | ) www.nytimes.com time to read: +1 min

She settled into the chair across from him, wiped the tears from his face, and the traditional Muslim wedding ceremony commenced. From the ceremony to the after-party, the entire evening was a lavish affair — and the logo of their cannabis company, Gumbo, was a motif throughout the wedding. Both had long careers in those industries: Ms. Major, 45, was a manager for N.F.L. players; Mr. Butler, 47, who goes by Luka, worked with various musicians and record labels in management, marketing and promotion. They wanted to develop an alternative pain management option, Ms. Major said, so they created Gumbo, which sells cannabis products in a variety of consumption forms.

Persons: Alexis Major, John Legend’s “, Karim Butler, Gumbo, Butler, —, Luka, Major, ” Organizations: N.F.L

☆ Riley Strain update: Missouri college student’s death ruled accidental drowning and alcohol poisoning, police say
▼ + stars: | 2024-06-18 | by ( Rebekah Riess | Christina Zdanowicz | ) edition.cnn.com time to read: +2 min

CNN —Riley Strain, a Missouri college student who went missing after leaving a downtown Nashville bar and whose body was later found in a river, died of accidental drowning and alcohol poisoning, the medical examiner’s office said Tuesday. Strain’s body was found in the Cumberland River in West Nashville on the morning of March 22, several miles from where he had gone missing. The autopsy report said Strain’s blood alcohol level was 0.228, which is almost three times the legal driving limit. CNN obtained a copy of the autopsy report from CNN affiliate WTVF and has reached out to the Strain family’s attorney for comment. Correction: A previous version of this story cited the wrong CNN affiliate for the copy of the autopsy report.

Persons: CNN — Riley Strain, Strain, Riley Strain’s, Strain’s Organizations: CNN, of Missouri, The Metropolitan Nashville Police Department, Police, Gay, WTVF Locations: Missouri, Nashville, Cumberland, West Nashville

CNN —Maryland’s governor pardoned more than 175,000 marijuana convictions Monday – a significant act of mass clemency that reflects the rapidly changing attitudes toward a drug that more than half of Americans want to see legalized. Wes Moore, a Democrat, will forgive low-level marijuana possession and certain paraphernalia charges for an estimated 100,000 people, the governor’s office said, noting it was possible for a person to have more than one conviction pardoned. But it will result in the pardons of more than 150,000 misdemeanor convictions for simple possession of cannabis and more than 18,000 misdemeanor convictions for use or possession with intent to use drug paraphernalia. Officials framed the pardons as an effort to undo the lasting harm left by these convictions, which are disproportionately borne by Black and brown people. The war on drugs was a war on communities of color,” Maryland Attorney General Anthony G. Brown said at Monday’s event.

Persons: CNN — Maryland’s, Wes Moore, ” Moore, –, ”, Anthony G, Brown, “, Biden Organizations: CNN, Gov, Democrat, Washington Post, Maryland, Post, Gallup, Juneteenth, US Department of Justice, Food and Drug, Justice Department, National Conference of State Legislatures, State Locations: Baltimore, Maryland, MJBiz

☆ The South Park jinx could be coming for high-flying weight-loss stocks
▼ + stars: | 2024-05-29 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

"One year after appearing on South Park, the median stock underperforms the S&P 500 by 7%," Spectra Markets said. South Park: The End of Obesity special released last week tackled the growing popularity of Ozempic and Mounjaro as Eric Cartman tries to get his hands on the hugely popular weight-loss drugs. Advertisement"One year after appearing on South Park, the median stock underperforms the S&P 500 by 7%," Spectra Markets President Brent Donnelly said. "South Park has a 20+ year history of capturing the cultural zeitgeist and it's impossible to argue that anything that is lampooned on South Park is not priced in," Donnelly said. But not all those featured on South Park saw their stock prices peak shortly thereafter, with Microsoft, Yelp, and Netflix bucking the trend.

Persons: —, Eric Cartman, Brent Donnelly, Donnelly, Eli Lilly, shouldn't Organizations: Service, Spectra Markets, Novo Nordisk, Twitter, Starbucks, Walmart, Microsoft, Netflix

☆ Daily marijuana use surpasses alcohol consumption, new study finds. Here's what it means for the industry
▼ + stars: | 2024-05-23 | by ( Brandon Gomez | ) www.cnbc.com time to read: +3 min

Although alcohol overall remains more widely used, 2022 was the first-time daily marijuana use overtook drinking at the same frequency, with roughly 17.7 million cannabis users and 14.7 million drinkers, respectively. That is a 15-fold increase for cannabis since 1992 when only 900,000 Americans disclosed using the drug daily compared with 8.9 million daily drinkers. The spirits and alcohol industry, however, has been working to defend its market share despite shifting trends among younger consumers. However, some analysts on Wall Street expect greater impact to the alcohol industry from cannabis adoption. "We estimate that legal cannabis could be negatively impacting beer volume [compound annual growth rate] by up to 230 bps in Canada and 75 bps in the U.S. where legal," said Bernstein analyst Nadine Sarwat.

Persons: Roth, Scott Fortune, Bill Kirk, Kirk, Fortune, Bernstein, Nadine Sarwat, Sarwat Organizations: The U.S . Drug Enforcement Administration, Carnegie Mellon University, Administration, Wall, distillers, Constellation Brands, Diageo, AB InBev, Molson Coors Locations: San Anselmo , California, The U.S, U.S, Canada

☆ Cannabis poisonings among older adults have tripled, study finds
▼ + stars: | 2024-05-20 | by ( Kristen Rogers | ) edition.cnn.com time to read: +7 min

But some older adults may be unaware of the strength of today’s weed, and little is known about the health effects of legalizing edible cannabis on older adults — the age group with the largest growth in overall cannabis use a year after dried cannabis flower was legalized in Canada, Stall said. Jamie Grill/Tetra images RF/Getty Images“There’s a bit of an age-related bias that many health care practitioners, and frankly society, hold that older adults are not using drugs. During the eight-year study period, there were 2,322 emergency department visits for cannabis poisoning in older adults who were age 69 on average. Products older adults intentionally use should have dosing information with specific guidance for older adults, “recognizing that the amount of drug they may need is a lot less than younger populations,” Stall said. Health care providers should also have open and judgment-free conversations with older adults about cannabis use and its benefits and risks, he added.

Persons: edibles, Nathan, Jamie Grill, “, ”, —, Lona Mody, Sharon K, Inouye, weren’t, Amanda Sanford Hickey, Ann Arbor . Inouye, Arthur Marcus, ” Mody Organizations: CNN, Sinai Health, Getty, Ontario Ministry, Internal Medicine, University of Michigan, Aging, for Aging Research, Harvard Medical School Locations: Canada, —, Sinai, Ontario, Ann Arbor, Boston

☆ Stocks making the biggest moves midday: GameStop, Reddit, Advanced Micro Devices, Robinhood and more
▼ + stars: | 2024-05-17 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

The sale comes after GameStop shares surged earlier this week in a brief revival of the meme-stock trade. Reddit — The social media stock popped 12% after Reddit announced a partnership with OpenAI. Take-Two Interactive — Shares of the video game publisher were up about 1% after its quarterly report showed stronger-than-expected bookings. Revenue guidance of $3.1 billion to $3.15 billion was also softer than the $3.3 billion expected by Wall Street. JD.com — The Chinese e-commerce stock advanced 2.2% on the heels of a Macquarie upgrade to outperform from neutral.

Persons: Reddit, OpenAI, Doximity, Globant, DXC, Tilray, Coinbase, JD.com, Macquarie, Jefferies, Yun Li, Jesse Pound, Samantha Subin, Hakyung Kim Organizations: GameStop, OpenAI, Reuters, Microsoft, Nvidia, Bloomberg Law, Globant SA, Technology, FactSet, Wall, Bank of America, Macquarie, DuPont de Nemours, Jefferies

☆ Earnings will drive the market next week — what we expect from 2 portfolio stocks
▼ + stars: | 2024-05-04 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

With the Fed, Apple earnings and the jobs report passing with flying colors this week, the runway to more gains looks a lot less cluttered. This past week was chock full of Club earnings: 12 portfolio companies, including Apple , delivered results. Analysts expect Wynn's earnings per share of $1.27 versus 29 cents a year ago when China was not fully back from Covid. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jerome Powell, we're, Jim Cramer, Jim, Apple, Eli Lilly, Estee Lauder, Stanley Black, Decker, Bausch, FactSet, It's, Bob Iger, Iger, Nelson Peltz, We're, Krystal, Berkshire Hathaway, Tyson, Jones Lang, Walt, Ferrari N.V, WK Kellogg, Wynn, Vishay, CRON, MARA, RICK, Ginkgo, Jim Cramer's, David Paul Morris Organizations: Federal Reserve, Apple, GE Healthcare, DuPont, Linde, Bausch Health, Coterra Energy, Club, Disney, Wynn Resorts, CNBC, Revenue, Vegas Sands, Cotai, Boston, Airlines, Krystal Biotech, Alpha Metallurgical Resources, Axsome Therapeutics, Tyson Foods, TSN, Bowlero Corp, CNA Financial Corp, CNA, Jones Lang LaSalle Incorporated, Technologies, Realty Income Corp, Lab, Teradata Corp, Technology, FMC Corporation, FMC, Paymentus Holdings, Shockwave, Vertex Pharmaceuticals, Goodyear Tire & Rubber Company, Simon Property Group, Sterling Construction Company, Apple Hospitality, Boise Cascade Corporation, BellRing Brands, Coty, COTY, Fidelity National Information Services Inc, Vornado Realty, Walt Disney Co, Holdings, Madrigal Pharmaceuticals, Nikola Corporation, BP, Rockwell Automation, MarketAxess Holdings, Jumia Technologies, GEO Group, Builders FirstSource Inc, Duke Energy Corp, WYNN, Rivian Automotive, Arista Networks, Occidental Petroleum Corp, Astera Labs, Bros, Flywire Corporation, B2Gold Corp, Kinross Gold Corp, Virgin Galactic Holdings, iRobot Corp, Electronic Arts Inc, McKesson Corp, ACM Research, Avadel Pharmaceuticals, Toyota Motor Corp, Emerson Electric Co, Perion, Editas, Brink's Company, Sinclair Corporation, New Fortress Energy, Starwood Property Trust, Animal Health, ELAN, Farms, IM Cannabis Corp, Fox Corporation, Formula One, Icahn Enterprises, Teva Pharmaceutical Industries, Arm Holdings plc, ARM, AMC Entertainment Holdings, Trade, AppLovin Corporation, Sciences Corp, SolarEdge Technologies, Roblox Corporation, GigaCloud Technology Inc, Warner Bros ., Properties Trust, Growers, Constellation Energy Group, Cronos, Fiverr, Solar Inc, EPAM Systems, Cedar Fair Entertainment, Digital Holdings, RCI Hospitality Holdings, Akamai Technologies, Semiconductor, Insulet Corp, NuScale Power Corporation, Ginkgo Bioworks Holdings, Bloom Energy Corporation, Construction, AMC Networks, CRH Public Ltd . Company, Jim Cramer's Charitable, Allen, Co . Media, Technology Conference, Bloomberg, Getty Locations: China, Eaton, Amazon, Covid, Macao, Vegas, Sun Valley , Idaho

☆ Biden administration plans to reclassify marijuana, easing restrictions nationwide
▼ + stars: | 2024-04-30 | by ( Julie Tsirkin | Monica Alba | ) www.cnbc.com time to read: +7 min

"DOJ continues to work on this rule," a Biden administration official said. "No one should be jailed for using or possessing marijuana," the president said during the speech. "Reclassifying marijuana as a Schedule III drug sends the message that marijuana is less addictive and dangerous now than ever before. US President Joe Biden speaks during the White House Correspondents' Association (WHCA) dinner at the Washington Hilton, in Washington, DC, on April 27, 2024. Nearly six in ten Americans say that marijuana should be legal for medical and recreational purposes, according to a Pew Research poll last month.

Persons: John Tlumacki, Biden, Joe Bidens, Tom Williams, Joe Biden, Barack Obama's, Jim Cole, Obama, Cole, Kevin Sabet, Brendan Smialowski, Brad Horrigan Organizations: Delta, Trade, Boston Globe, NBC, Drug, Department of Health, Human Services, DOJ, Biden, Internal Revenue, Justice's, DC Marijuana Justice, CQ, Inc, Getty, State, National Cannabis Roundtable, NBC News, Smart, Marijuana, Obama Administration, White, Correspondents ' Association, Washington Hilton, AFP, Management, CRA, Pew Research, Florida Supreme, Tribune, Service Locations: Wareham, deducting, New York, California, Washington ,, Florida

☆ Modelo maker Constellation's upbeat forecast should send the stock to new highs
▼ + stars: | 2024-04-11 | by ( Jeff Marks | ) www.cnbc.com time to read: +9 min

Constellation Brands reported better-than-expected quarterly earnings Thursday, driven by strength in its beer business that more than offset continued weakness in wines and spirits. Management's upbeat forecast for fiscal year 2025 should send the stock to new all-time highs. Constellation Brands Why we own it : We like Constellation Brands for its beer franchise, which includes popular Mexican brands Modelo, Corona and Pacifico. More importantly, the sales gains in the beer business are almost entirely driven by volume gains, not higher prices. Management cited Circana channel data as evidence that its beer business outperformed the total U.S. beer category and remained the top dollar sales share gainer.

Persons: Jim Cramer's, Bill Newlands, Beer, Crawford, Meiomi, Robert Mondavi, Jim Cramer, Jim, Justin Sullivan Organizations: Constellation Brands, Modelo, Anheuser, Busch Inbev, Molson Coors, Constellation, Modelo Especial, Corona, Pacifico, Management, High, Woodbridge, Lumina, Enterprise, CNBC Locations: Corona, Pacifico, STZ, Pacific, San Rafael , California

☆ Three booming businesses that make Denver stand out
▼ + stars: | 2024-04-08 | by ( Chris Dilella | ) www.cnbc.com time to read: +4 min

Two cities in Colorado are experiencing tech-fueled economic booms, with Denver's skyline transforming and Boulder's gross domestic product surging. However, the influx of people and businesses has brought challenges like a growing homeless population, affordability issues and infrastructure strain. A recent report shows a 24% drop in Denver's cannabis revenue compared with 2021. Major league moneymakersCameron Fleming #73 of the Denver Broncos runs onto the field before a game against the Kansas City Chiefs at Empower Field at Mile High on January 8, 2022 in Denver, Colorado. A stage for economic successA concert at Red Rocks Park and Amphitheatre outside Denver.

Persons: Amy Sparwasser, Matthew Staver, Jared Polis, Polis, Mike Johnston, moneymakers Cameron Fleming, Dustin Bradford, Deion Sanders, Prime's, John P Kelly Organizations: Denver &, Bloomberg, Getty, CNBC, Denver Department of Excise, Licenses, trailblazer, Industry, State Planning, Denver, Denver Broncos, Kansas City Chiefs, Broncos, Nuggets, Rockies, Avalanche, Analysts, University of Colorado Boulder's, NFL, University of Colorado, Boulder, Rocks Locations: Denver, CNBC's, Colorado, Success, Denver & Boulder, Denver , Colorado, Chicago , New York, Los Angeles, University of Colorado Boulder

☆ Cramer's week ahead: Earnings from Delta, Constellation Brands and major banks
▼ + stars: | 2024-04-05 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Friday told investors what to look out for next week on Wall Street, highlighting earnings reports from major banks, Delta Air Lines and Constellation Brands . "Stop worrying about how many rate cuts we're going to get when or where or why or how," he said. He'll also be paying attention to earnings from Delta, which he said has the best financials of its peers. Cramer said Thursday is an important earnings day because Constellation Brands will share its quarterly results. Friday is also a big day for earnings, Cramer said, with reports from Wells Fargo , JPMorgan , BlackRock and Citigroup .

Persons: CNBC's Jim Cramer, it's, Cramer, he'll Organizations: Delta Air Lines, Constellation Brands, Federal, Florida Supreme, Delta, Modelo, JPMorgan, BlackRock, Citigroup, Fed Locations: Florida, Wells Fargo

☆ New York Must Figure Out How to Fix Cannabis Mess, Hochul Orders
▼ + stars: | 2024-03-17 | by ( Ashley Southall | ) www.nytimes.com time to read: +1 min

Kathy Hochul has told New York officials to come up with a fix for the way the state licenses cannabis businesses amid widespread frustration over the plodding pace of the state’s legal cannabis rollout and the explosion of unlicensed dispensaries. The main goal of the review, to be conducted by Jeanette Moy, the commissioner of the Office of General Services, is to shorten the time it takes to process applications and get businesses open, officials said. The state Office of Cannabis Management, which recommends applicants to the board for final approval, received 7,000 applications for licenses last fall from businesses seeking to open dispensaries, grow cannabis and manufacture products. But regulators have awarded just 109 so far this year. The agency has just 32 people assigned to evaluate the applications.

Persons: Kathy Hochul, Jeanette Moy Organizations: New, Cannabis Control Board, General Services, of Cannabis Management Locations: New York

☆ A significant number of US 12th-graders report using delta-8 products, study says, and it may be a public health concern
▼ + stars: | 2024-03-12 | by ( Jen Christensen | ) edition.cnn.com time to read: +6 min

Delta-8 THC, or delta-8 tetrahydrocannabinol, is one of more than 100 chemical compounds found in the cannabis sativa plant. That’s at least one or two students in every average-sized high school class who may be using delta-8. Most of the participants were about 17 years old, so the study may not fully represent how many younger teens are using delta-8. There has been a general concern that the number of students using delta-8 has been growing, according to an editorial published Tuesday alongside this study. Calls to America’s Poison Centers about delta-8 products spiked 82% from 2021 to 2022, the group said in a recent report, with 3,358 exposures managed in 2022.

Persons: ”, Adam Leventhal, “ Dr, Nora Volkow, ” Leventhal, Jennifer Whitehill, Kelly Dunn, Renee Johnson, Harlow et, Scientists don’t, Dr, Sanjay Gupta Organizations: CNN —, USC Institute for Addiction Science, Midwest, National Institute on Drug, University of Massachusetts Amherst, Johns Hopkins University, National Cannabis Industry Association, Scientists, Research, Get CNN, CNN Health, Centers

☆ German parliament votes to legalize limited recreational cannabis use for adults
▼ + stars: | 2024-02-23 | by ( Nadine Schmidt | ) edition.cnn.com time to read: +2 min

CNN —Germany’s lower house of parliament voted to legalize cannabis for limited recreational use among adults on Friday, following a controversial debate about the pros and cons of allowing easier access to the drug. In total, 407 German lawmakers voted in favor of the new regulation; 226 lawmakers voted against and four lawmakers abstained from Friday’s vote. The move makes Germany the third country in Europe – after Malta and Luxembourg – to legalize the drug for recreational use, removing cannabis from the official list of banned substances. The German government said that cannabis would remain illegal for minors and highly restricted for young adults, adding that consuming the drug near schools and playgrounds would be illegal. “Nobody should misunderstand this law: cannabis consumption is being legalized, but that doesn’t mean it isn’t dangerous,” Germany’s health minister said.

Persons: –, Karl Lauterbach, ” Lauterbach, “, Tino Sorge, GMA Klaus Reinhardt Organizations: CNN, Christian Democratic Union, CDU, German Medical Associations, GMA Locations: Germany, Europe –, Malta, Luxembourg, Netherlands

☆ ‘A false sense of security’: Experts say delta-8 THC products can still be dangerous
▼ + stars: | 2024-02-09 | by ( Jen Christensen | ) edition.cnn.com time to read: +8 min

Delta-8 THC, or delta-8 tetrahydrocannabinol, is one of more than 100 chemical compounds found in the Cannabis sativa plant. To make delta-8 products, scientists typically make synthetic versions in the lab. Unlike regulated medical products like acetaminophen, which must have uniform ingredients and doses, the contents of delta-8 products vary from product to product — sometimes even from batch to batch. She also encourages people who buy delta-8 products to store them safely so children can’t get to them. Until there are more regulations on the products, experts said, poison centers will still get calls about delta-8 and other cannabis products.

Persons: Daniel Kruger, ’ ”, can’t, Kait Brown, ” Brown, Brown, ’ ” Brown, Kruger, Cassidy LoParco, aren’t, LoParco, They’ve, ” LoParco, Dr, Sanjay Gupta, “, you’re, ” Kruger Organizations: CNN, Centers, Jacobs School of Medicine, Biomedical Sciences, University at Buffalo, State University of New, US Food and Drug Administration, Federal Trade Commission, George Washington University, National Cannabis Industry Association, Delta, HHC, CNN Health Locations: State University of New York

☆ Opinion: Does marijuana cause psychosis? The answer is complicated
▼ + stars: | 2024-02-08 | by ( Opinion David L. Nathan | Peter Grinspoon | ) edition.cnn.com time to read: +8 min

Still, the question remains: Does cannabis truly cause psychosis and related diseases such as schizophrenia — or is this another overblown claim? It is especially important for us, as doctors, to untangle whether cannabis actually causes psychosis. Still, of all the drugs associated with this uncommon kind of psychosis, cannabis is the most common culprit. CBD products should only be purchased from reputable companies that test their products through independent labs and share the results. We shouldn’t jump to the conclusion that cannabis causes psychosis, but anyone who plans to use cannabis should know their personal risk factors and exercise caution accordingly.

Persons: David L, Peter Grinspoon, David Nathan Eli Nathan Dr, we’ve Organizations: Drug Policy, Harvard Medical School, Marijuana, Drug, CNN, Street Journal, US Food and Drug Administration Locations: hyperbolically

The state’s illegal market had flourished for decades, anchored in the storied “Emerald Triangle” region in the northern end of the state. Dicus said in 2023 his department served 411 search warrants for illegal marijuana grow sites countywide and recovered $370 million. “The reality is that Proposition 64, in the fine print, took illicit marijuana and moved it from a felony to a misdemeanor. In 2020, seven people were fatally shot at an illegal marijuana growing operation in a rural town in neighboring Riverside County. “We've invited organized crime to come back into California and compete for an illicit market.”

Persons: ”, Jerred Kiloh, “, Kiloh, San Bernardino County Sheriff Shannon Dicus, Gavin Newsom, Dicus, we’ve, ” Dicus, Griffen Thorne, ” Kiloh, “ We've Organizations: ANGELES, United Cannabis Business Association, Authorities, El Mirage, San Bernardino County Sheriff, ” Democratic, Cannabis Locations: California, Los Angeles, San Bernardino County, Riverside County

SAN BERNARDINO, Calif. (AP) — Prosecutors filed murder charges Tuesday against five suspects in the fatal shootings of six men at a remote dirt crossroads in the Southern California desert after what investigators said was a dispute over marijuana. The suspects each face six felony counts of murder with a special circumstance allegation of multiple murders, the San Bernardino County District Attorney's Office said in a statement. “This mass murder, done in a dark secluded desert, clearly illuminates the violence and crime that exists as a direct consequence of illegal marijuana operations,” District Attorney Jason Anderson said in Tuesday's statement. San Bernardino County Sheriff Shannon Dicus said Monday that the bodies were found in an area known for black market cannabis about 50 miles (80 kilometers) northeast of Los Angeles. Dicus said in 2023 his department served 411 search warrants for illegal marijuana grow sites countywide and recovered 655,000 plants and $370 million.

Persons: — Prosecutors, Jose Nicolas Hernandez, Toniel Beaz, Duarte, Mateo Beaz, Jose Gregorgio Hernandez, Jose Manuel Burgos Parra, Toniel Beaz Duarte, Mateo Beaz Duarte, Office didn't, Michael Warrick, Warrick, Jason Anderson, Bernardino County Sheriff Shannon Dicus, Dicus, Baldemar Mondragon, Franklin Noel Bonilla, Kevin Dariel Bonilla, Franklin Bonilla Organizations: BERNARDINO, Calif, —, San, San Bernardino County, Attorney's, Public, Office, Authorities, El, Trailblazer, Bernardino County Sheriff Locations: Southern California, San Bernardino, San Bernardino County, ”, Bernardino County, Los Angeles, Apple, Los Angeles County, Albarran, Adelanto, Hesperia, California, Riverside County

☆ Cannabis 'legalization is inevitable,' says policy analyst—what to know before you invest
▼ + stars: | 2023-11-28 | by ( Ryan Ermey | ) www.cnbc.com time to read: +5 min

Cannabis stocks aren't the only ones that were riding high in early 2021. Those changes have yet to come on a federal level, and dimming enthusiasm from investors, among other factors, has led to a major slide in pot stocks. The AdvisorShares Pure US Cannabis ETF, which holds U.S.-based cannabis companies, currently trades for $6.80 a share, down from nearly $52 in February 2021. But for experts in the space, the question surrounding cannabis legalization (and a subsequent boom in the industry) isn't if, but when. "Legalization of cannabis is inevitable," says Jaret Seiberg, a policy analyst at TD Cowen.

Persons: Jaret Seiberg, Cowen, Brady Cobb, Mike Johnson's ascendency, Johnson, Cobb, Joe Biden, Jason Wild Organizations: Democratic, Cannabis ETF, Department of Health, Human Services, Bloomberg, HHS, Drug Enforcement Agency, JW Asset Management Locations: Ohio, Massachusetts

☆ N.Y. Cannabis Board Settles Suits, Paving Way for Dispensaries to Open
▼ + stars: | 2023-11-27 | by ( Ashley Southall | More About Ashley Southall | ) www.nytimes.com time to read: +1 min

A state judge in Ulster County froze the interim program in August after four service-disabled veterans sued, claiming that they were illegally excluded from applying. They borrowed the argument from a lawsuit filed in March by a coalition of opponents that included four of the state’s medical cannabis companies. The settlement would end both lawsuits. Going forward, 436 retail license holders caught up in the litigation would be able to open shops and begin making deliveries, including 23 dispensaries that were ready to open before the stoppage. Lawyers for the plaintiffs in both lawsuits did not immediately comment on the settlement.

Persons: Jorge Vasquez, Vasquez Segarra Locations: Ulster County

☆ How to Keep Your Bank From Closing All Your Accounts
▼ + stars: | 2023-11-18 | by ( Ron Lieber | More About Ron Lieber | ) www.nytimes.com time to read: +2 min

This has happened several times to Times readers, over 1,000 of whom have submitted their stories. Checks Are a Red FlagFraud involving mail theft and checks has roughly doubled in recent years. If you don’t write checks at all — and destroy or hide any the bank sends you — fraud becomes more unlikely. If you must use checks, don’t mail them. And if you have to mail a check, try taking it directly to a post office.

☆ 2 Stanford grads want to replace your beer with cannabis drinks—they’ve already sold 10 million cans
▼ + stars: | 2023-11-14 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +5 min

Anderson and Bullock refer to it as a "social tonic," or a hangover-free alternative to beer. It's one of the top-selling cannabis beverage brands in the U.S., according to market research firm BDSA. Bullock and Anderson project sales of more than 9 million cans next year — which, with prices starting at $24 per six-pack, would generate at least $36 million in annual revenue. Unsurprisingly, the co-founders say they're well-positioned to fill the void — even as research into cannabis' health effects remains inconclusive. That same year, Constellation Brands, which produces Corona and Modelo beers, invested $4 billion in Canadian cannabis company Canopy Growth.

Persons: Jake Bullock, Luke Anderson, Cann, Anderson, Bullock, haven't, seltzer, MBAs — Anderson, Stanford, misfire, we've Organizations: Los, Anderson, CNBC, Gallup, Cann's, Bain, Co, Harvard University, Stanford University, Constellation Brands, Modelo, Apple Locations: Los Angeles, Canada, U.S, Palo Alto, alma, Colorado, Palo Alto , California, Corona, Florida, Sicily, California

☆ Ohio just legalized cannabis. Now comes the hard part
▼ + stars: | 2023-11-09 | by ( Alicia Wallace | ) edition.cnn.com time to read: +9 min

Ohio voters’ approval of a legalization measure on Tuesday comes just months after cannabis saw some of its most significant movements at the federal level. “I honestly think it will have massive reverberating effects on what Congress has to do about this.”More than two-thirds of US states have legalized cannabis in some capacity: 38 states have approved comprehensive medical cannabis programs, and Ohio brings the recreational total to 24 states. Joshua A. Bickel/APExisting medical cannabis dispensaries will have the opportunity to be grandfathered in and have first crack at licenses, but municipalities can decide whether to allow sales. “In 2018, Michigan fully legalized cannabis, set a relatively low tax rate and my perception is it’s been a fairly successful industry there.”Michigan’s cannabis sales hit a record $276 million in July, a time when industry members there and beyond have struggled. Marijuana buds ready for harvest rest on a plant at AT-CPC of Ohio, Monday, Jan. 28, 2019, in Akron, Ohio.

Persons: Andrew Freedman, ”, “ It’s, ” Freedman, “, pollster Gallup, ‘, Nick Lachey, Joshua A . Bickel, Mike DeWine, Freedman, Douglas Berman, ” Berman, It’s, Irina Dashevsky, Marder, Tony Dejak, Dashevsky, we’ve, hasn’t, Ariane Kirkpatrick, Amonica Davis, ” Kirkpatrick Organizations: Minneapolis CNN, Buckeye, US Department of Health, Human Services, Forbes Tate, Coalition for Cannabis Policy, CNN, Republican, Drug Enforcement, Center, The Ohio State University’s Moritz College of Law, Industry, Buckeyes, CPC, Ohio, AP Companies, Enforcement Locations: Minneapolis, Minneapolis CNN — Ohio, Ohio, As Ohio, Missouri, Cincinnati, Michigan, Akron , Ohio, United States

LONDON/COPENHAGEN, Nov 2 (Reuters) - Global brewers AB InBev (ABI.BR) and Carlsberg (CARLb.CO) this week played down concerns among some investors that demand for weight-loss drugs may lead to a sharp drop in beer drinking. But AB InBev Chief Executive Michel Doukeris likened the concerns to others, such as how cannabis could disrupt various sectors, which he said were often short-lived. Some clinical trials on rodents have found treatment with GLP-1 agonists reduces alcohol consumption, eases symptoms of alcohol withdrawal and more. AB InBev has a big U.S. business, but earns more revenue in the Middle Americas and has a large footprint in countries like Brazil. Such emerging markets often have lower obesity rates, while weight-loss drugs are unlikely to be available or affordable there any time soon.

Persons: Nordisk's Wegovy, Michel Doukeris, Jacob Aarup, Andersen, Moritz Kronenberger, Janus Henderson, Tom O'Hara, O'Hara, Wegovy, Emma Rumney, Jacob Gronholt, Matthew Scuffham, Alexander Smith Organizations: Global, AB InBev, Carlsberg, Nordisk's, InBev, Reuters, Budweiser, World Health Organization, WHO, Germany's Union Investment, Brewers, Pedersen, Thomson Locations: COPENHAGEN, United States, Brazil, Asia, China, Danish, U.S, London, Copenhagen

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