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January 14, 2018
Market Recovers After Sessions' Remarks
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- Attorney General Jeff Sessions' Jan. 4 announcement rescinding the Cole Memo sparked a steep but short-lived selloff of U.S. cannabis stocks.
- By January 11th, stocks had rebounded to within 5% of their value before the Cole Memo was rescinded.
- The 21%, one-day decline was fueled by investors unnerved by implications for the federal government's tighter enforcement of cannabis prohibition in legal states.
- Regardless, the market soon rebounded as risk-tolerant investors seized opportunities to pick up inexpensive stocks, after a dramatic run-up in prices in Q4 2017.
- In December 2017 alone, the Index rose 50% with investors excited by pending activations of adult-use cannabis markets in California and Canada.
- The rebound in stock prices suggests greater confidence in publicly traded cannabis companies, and the viability of the industry overall, despite Sessions’ statement.
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Cannabis cultivation is reaching new levels of sophistication and efficiency as commercial operations become larger. In the early years post-legalization, facilities larger than 50,000 square feet were rare. Now state-of-the-art cultivation facilities can exceed such size, more than a 10x increase from prior medical and early adult-use operations.
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Learn how this increase in production capacity impacts you and the marketplace. This report, brought to you by New Frontier Data, in partnership with GrowGeneration, addresses:
- Market Size
- Growth Trends
- Pricing and Brand Popularity
- And much, much more….
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By J. J. McCoy,
Senior Managing Editor of New Frontier Data
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The Tax Cuts and Jobs Act (TCJA) has become the law of the land, and yet, still no relief for cannabis businesses from Section 280E. As we wrote in an earlier post, there are still significant tax reductions available to cannabis taxpayers, if you know where to look. This post will update each of the three areas we highlighted earlier to identify those opportunities...
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CohnReznick is one of the largest accounting, tax and advisory firms in the United States, which has teamed with New Frontier Data in an exclusive partnership to provide increased transparency, improved efficiency, and more accurate risk management in taxation, compliance, and accounting within the cannabis space.
Stay tuned every two weeks for the latest in tax policy and its impact on cannabis.
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DENVER, Jan. 11, 2018 /Weed Wire/ — Simplifya, a developer of the cannabis industry’s leading regulatory compliance software, announced Thursday it has closed a lead investment of $1 million in its Series B financing from Merida Capital Partners, a private equity fund that targets fundamental growth drivers underpinning the rapid development of the cannabis industry. Additional investors are queued up to close the $3 million funding round.
Read the full article here >
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Nearly 70 Congress members push spending bill amendment to protect state-legal marijuana
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High praise: Pot churches proliferate as states ease access to marijuana
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Michigan, Vermont, New Jersey: The states trying to legalize marijuana in 2018
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Portuguese doctors back marijuana medicine as bill enters parliament
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