Here are the top 5 stories you need to read from last week
Happy Monday MRR readers! We hope you in Toronto enjoyed HempFest Toronto’s Cannabis Expo, and today in Santa Rosa the Hall of Flowers opens its doors to dispensary retailers. There has been a ton of news in the last week and we want to make sure you are up to date with the latest so lets dive right in.
The major story from last week comes from the Department of Homeland Security and the numerous Canadian cannabis industry workers reporting they are not only being denied entry to the United States, but are actually being handed lifetime bans for no other reason than just for working in the cannabis industry. This news has caused some Canadian cannabis stock prices to plummet as much as 15% before rallying. CBP executive assistant commissioner has been quoted as saying “If you work for the industry, that is grounds for inadmissibility.”
Another major story making the rounds is speculation that RICO is giving rise to a new cottage industry of lawyers hellbent on attacking the legal cannabis industry. These federal racketeering lawsuits were originally used against cannabis companies in Massachusetts and Colorado back in 2017, and now it appears to be growing.
With CBD on the rise and showing no signs of slowing down, one as to ask if hemp derived CBD is poised to completely eclipse the rest of the cannabis industry. Having doubled in size between 2017 and 2018, and now facing federal legalization under the Hemp Farming Act of 2018, it is entirely possible that it will.
Out of California, we saw many products, nearly 20%, fail their testing requirements for potency and purity since the state made regulations mandatory back on July 1st. The testing has been especially tough on cannabis-infused cookies, candies and tinctures: about one-third have been blocked from store shelves. In much smaller numbers, testing companies licensed by the state are finding unacceptable levels of pesticides, solvents and bacteria, including E. coli and salmonella, according to data provided to The Associated Press by the state Bureau of Cannabis Control.
Last but not least, our friends in Michigan are breathing a little easier after Court of Claims Judge Stephen Borrello granted an injunction Thursday that was requested by a lawyer for a medical marijuana business. The state is now complying with the judge’s order while determining the best way to proceed.
As always subscribe to our Daily Digest by signing up at the bottom of this article to get the latest in retail-related news in the cannabis industry delivered to you daily. Also, make sure to check out our CBD Special Report – Integrating CBD Into Your Cannabis Retail Strategy, available now in digital format. If you were at The BIG Industry Show this past weekend in Los Angeles, you were lucky enough to get a physical edition of the report. Your next chance to grab a physical copy of the report will be at CWCB in Los Angeles later this month!