The Vaping Crisis with Ramon Alarcon and Arnaud Dumas de Rauly cannabisradio.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cannabisradio.com Daily Mail and Mail on Sunday newspapers.
This week, cannabis stocks experienced quite a bit of volatility amid a slew of big news items.
On Monday, New Jersey Gov. Phil Murphy signed a trio of adult-use cannabis reform bills, making recreational marijuana legal and regulated for adults 21 years and older, while also decriminalizing the possession among all inhabitants of the state.
Following the news, Cantor Fitzgerald analyst Pablo Zuanic recommended investors to keep an eye on three companies with a large presence in the Garden State
Curaleaf Holdings Inc. (OTCQX: CURLF),
Green Thumb Industries Inc. (OTCQX:GTBIF) and
Columbia Care Inc. (OTCQX:CCHWF).
Also this week,
Parallel CEO and chewing gum billionaire William “Beau” Wrigley Jr. confirmed the company will go public via a $1.9 billion merger with
tanmayFebruary 24, 2021
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Sale Trends
Cannabis sales in Michigan hit $984.6 million in 2020. Medical cannabis sales accounted for $474 million for the year, while adult-use sales reached $510.7 million.
Rhode Island and the Soboba Band of Luiseno Indians received approvals from the U.S. Department of Agriculture (USDA) for its hemp regulatory proposals.
The Christmas and New Year’s holidays marked the single biggest cannabis sales period of 2020. The period between Dec. 18 and Dec. 24 generated roughly $427 million, according to
Akerna (NASDAQ:KERN). The largest sale day of the period was Wednesday, Dec. 23, with $87.3 million, making it the third largest cannabis sales of the year, just behind Green Wednesday with $87.4 million. Exceeding all expectations, New Year’s Eve was the single biggest sales day of 2020 with $89.4 million.
Vaporizer technologies company
The Blinc Group, Inc. announced Thursday the closing of a pre-Series A bridge financing of $1.5 million. The round was led by
Equitas Partners Fund, WGD Capital, LP, and 7thirty Capital.
Expand the company’s China office to optimize control over the supply chain.
Partner with an international lab for material safety research.
Expand the sales team across North America.
Expand the portfolio of vaping value chain services.
“The challenges of 2020 turned out to be the very challenges that helped the Blinc Group to thrive. Our dedication to the highest standards of safety, quality and a rigorous supply chain were what set up apart during the 2019 vaping criss and the pitfalls created by the COVID-19 pandemic, Dumas de Rauly told Benzinga. We have shown our clients, investors, and the industry that a company that puts consumers first is the one that s going to succeed.”