Marijuana companies focused on the United States face “massive and unsustainable” valuation discounts relative to their Canadian counterparts, according to a new report.
It is staggering to think that forecasters have predicted that by 2025 the global cannabis industry will reach about $146bn, with the total market value of the SA cannabis industry amounting to about $1.8bn.
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While the number of merger and acquisition deals involving public companies as acquirers continues to outpace private ones, the percentage of overall M&A transactions involving public buyers is slightly lower in 2019 than year-to-date 2018, 71% versus 78%.
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Interest in cannabis jobs up over 600% since 2016, while postings rise fourfold.
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A big challenge for employers in the nearly $14 billion global market for legal marijuana is not a shortage of applicants but the shortage of qualified applicants.
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As the perceived risk of investing in the cannabis industry recedes, investors see more upside from investing in cannabis companies’ stock and are less interested in loan financing, according to data presented in the Marijuana Business Factbook.
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Imperial Brands said it will invest 123 million Canadian dollars ($93.4 million) in a British Columbia cannabis company, the United Kingdom tobacco giant’s latest foray into the marijuana industry.
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According to the National Institutes of Health, among all U.S. adults, nearly 40 million (17.6%) report suffering from severe pain, while about 25.3 million (11.2%) complained of experiencing daily pain throughout the previous three months. Chronic pain is more than an uncomfortable nuisance: People coping with severe pain had worse health, used more health care resources, and experienced more disability than other adults.
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The recently released Marijuana Business Factbook estimates that in Denver and Portland, Oregon, for example, marijuana retailers outnumber Starbucks by close to double, while in Anchorage, Alaska – a newer market – the two are tied for density.
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With revenue of $8.6 billion-$10 billion, 2018 sales of legal recreational and medical cannabis in the United States topped spending on e-cigarettes, the Fortnite video game and Goldfish crackers combined.
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Illinois on Friday became the country’s first state to legalize recreational marijuana cultivation and sales through its Legislature, a landmark move that paves the way for the creation of one of the nation’s largest adult-use cannabis markets offering “huge” business opportunities.
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Aurora Cannabis Inc. shares rose Tuesday, after the Canadian company said it has entered a multiyear, multimillion-dollar agreement with mixed martial arts organization UFC to research the effect of hemp-derived CBD products on athlete recovery and wellness.
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The office cocktail trolleys of the “Mad Men” era are making way for cannabis happy hours in some states where the plant is legal. People across the country are turning to CBD when they want to relax during the day. Evenings of cannabis-focused meals and puffing and painting classes have become increasingly popular.
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Bank of America Merrill Lynch deepened its interest in the cannabis industry by initiating coverage of the burgeoning sector, less than a year after it financed Constellation’s multibillion-dollar investment in Canada’s Canopy Growth.
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Cresco Labs announced what will be the largest acquisition of a public company operating in the American cannabis industry to date, agreeing to buy CannaRoyalty (dba Origin House) in an all-stock transaction valued at $825 million.
The Cresco Labs acquisition followed another big move four weeks ago, as Arizona-based Harvest Health & Recreation announced the $850 million pending acquisition of privately-held Verano Holdings, a Chicago-based MSO.
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BlackRock, one of the world’s largest money managers, disclosed in regulatory filings that its funds have an $11 million stake in Curaleaf Holdings, a Massachusetts-based medical cannabis company.
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Support for legal marijuana hit 61 percent in 2018, up from 57 percent two years ago, according to the General Social Survey, a widely respected trend survey that has been measuring support for legal marijuana since the 1970s.
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New Frontier Data, the authority in data analytics and busiess intelligence on the global cannabis industry, today announced new economic data detailing the potential impact of federal cannabis regulation on key industry sectors in the United States. The federal legalization of medical and adult-use cannabis will create $86 billion in additional U.S. tax revenue between 2019 and 2025 and a $56 billion annual U.S. cannabis market by 2025.
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U.S.-affiliated medical cannabis companies dominated Canadian Securities Exchange (CSE) fundraising in 2018, raising nearly $2 billion through 50 equity-related deals.
As of December 2018, 47% of the 124 cannabis-related companies trading on the CSE were based in the United States or had U.S. assets or interests.
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The year 2018 will go down as a massive milestone for cannabis companies with $13.8 billion raised and more than 300 merger and acquisition deals inked across the industry, according to data from Viridian Capital Advisors.
The activity far surpasses the figures logged in 2017, when firms raised $3.5 billion and closed 153 M&A deals.
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