Hey there, Fam! 🍁 Get ready to dive into the world of cannabis with the freshest news and hottest trends in the industry. Whether you're chilling at home or on the go, our blog is your go-to source for all things 420. This month, we've got some seriously groundbreaking stories that are sure to light up your day. So, grab your favorite snacks, sit back, and let's blaze through these updates together!
Before we roll into the main content, we extend a warm invitation to you. If these stories spark your interest, ignite your curiosity, or simply make you want to explore more, head over to www.bddwholesale.com. Our site is your go-to hub for the latest and greatest in THC edibles, CBD products, and all smoking gear. We promise it's a trip worth taking!
1. Epidiolex Approval in Canada: Canada marked a significant milestone with the approval of Epidiolex, a cannabinoid-based medicine. This approval signals a growing recognition and acceptance of the therapeutic potential of cannabinoids in the mainstream medical community. Epidiolex's entry into the Canadian market represents a significant step forward in the integration of cannabis-based medicines into conventional healthcare systems.
Full story here!
2. Optimism Over Ending Tax Code 280E: In the United States, cannabis stakeholders are expressing optimism about the potential end of the restrictive tax code 280E. This change could have far-reaching implications for the industry, encouraging risk-taking and investment and potentially unlocking new growth opportunities for cannabis businesses.
Full story here!
3. South Carolina Bill to Tax and Regulate Delta-8 THC: South Carolina introduced a bill aimed at taxing and regulating Delta-8 THC, a move that reflects the evolving legal landscape of cannabis and its derivatives.
Full story here!
4. Connecticut's Record Adult-Use Marijuana Sales: Connecticut reached a new high in adult-use marijuana sales in October, while medical cannabis sales continued to decline, reflecting a shift in consumer preferences.
Full story here!
5. Green Wednesday Adult-Use Cannabis Sales: Sales for adult-use cannabis on Green Wednesday surpassed $9 million, showcasing the growing popularity and economic impact of cannabis around holiday shopping periods.
Full story here!
6. Snoop Dogg’s Dogg Lbs Vapes Go Worldwide with North America Deal:
Last summer, Snoop Dogg's cannabis and vape brand, Dogg Lbs (or D*gg Lbs on labels), made its way from Canada to Israel. And now, thanks to a new deal, it's available in North America in vape form! Inspire, a vape company, just announced that its subsidiary, Aspire North America, has entered into a five-year manufacturing and global distribution agreement with Hempacco Co. - a subsidiary of Green Globe International Inc. They're the folks behind hemp-derived CBD and delta-9 THC cannabinoid products. Exciting times ahead!
Full story here!
7. MariMed Email Fraud Loss: MariMed, a major Marijuana Multi-State Operator (MSO), reported a significant financial loss due to a sophisticated email fraud. This incident highlights the need for enhanced cybersecurity measures in the cannabis industry to protect against such threats.
Full story here!
8. Diversity in the Cannabis C-Suite Returns to Pre-Pandemic Levels, Study Finds: A lot of female and POC executives actually left the cannabis industry during the lockdown. But guess what? They've made a comeback! According to a recent study, diversity among cannabis execs is back to pre-pandemic levels. Around 39% of business owners in the industry are women, and about 24% are racial minorities. That's a step up from 2021 and similar to 2019. Isn't that great news?
Full story here!
9. DEA's Role in Marijuana Rescheduling: The Drug Enforcement Administration (DEA), once known for its opposition to marijuana, is now playing a vital role in the potential rescheduling of the substance. This change in stance reflects a broader shift in attitudes towards cannabis at the federal level.
Full story here!
10. Green Wednesday Adult-Use Cannabis Surpassed $9 Million in Sales: On November 22nd, adult-use cannabis sales saw a boost compared to 2022 data, while medical cannabis sales took a dip. And let me tell you, the day before Thanksgiving, also known as "Green Wednesday" in the cannabis industry, set a new record for sales. According to the folks at Jane Technologies, recreational sales on November 22nd reached a whopping $9,209,061.73—an 18.12% increase from last year's Green Friday sales, which were at $7,795,803.80. Can you believe it?
Full story here!
And there you have it again! Embrace the opportunity to make the most of it by expanding your market during the holidays! Remember to subscribe to our newsletters and explore www.bddwholesale.com, where you'll find an extensive collection of top-notch smoke shop products and exciting new weekly arrivals. Stay tuned for next month's edition, fam! We'll serve even more mind-blowing industry news to keep you on the edge of your seat! See you soon Fam!
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