Cannabis News
Colorado Cannabis Sales Hit a New Low Not Seen Since February of 2017
Published
10 months agoon
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admin
Colorado’s medicinal marijuana industry continued to deteriorate in November 2023, with sales amounting to just $14.5 million, an 11.5% fall from the same month the previous year.
This November was the state’s cannabis industry’s fourth straight month of declining sales, indicating a concerning trend. Colorado will likely witness significant declines in marijuana sales for the second year in a row.
The “beggar they neighbor” policy of out-of-state consumers crossing over state lines to get their medical or recreational marijuana seems to be dying. As access in the legal and illegal market opens up for consumers, less consumers are headed to early-mover states to get their cannabis. States like California, Colorado, Massachusetts are seeing sales taper off as new neighboring states like New York, Connecticut, Maine, New Mexico, and Arizona ramp up production and retail locations.
Are we finally seeing an “unofficial” effecient market as the amount of cannabis produced on the legal and illicit market is keeping up with consumer demand? Do people now all have a “plug” they know or can get to where the product is satisfactory for the price? Let’s dig into Colorado’s sales numbers since they have a long and robust history to look at and review.
By November 2023, total cannabis sales in Colorado had surpassed $1.4 billion for the year, yet the trajectory suggests that the final 2023 figures will fall well below the impressive $1.7 billion achieved in 2022. In November, combined revenue from both recreational and medical marijuana retailers amounted to $110.5 million, marking the lowest monthly total since February 2017.
Specifically, adult-use sales, constituting approximately 87% of total sales in the state, experienced a year-over-year decline of about 16%, totalling $95.8 million. Data released by the Colorado Department of Revenue on Thursday highlighted this concerning trend.
Consequently, projections indicate that Colorado’s marijuana sales for the entire year of 2023 are expected to reach approximately $1.5 billion, reflecting a nearly 13% decrease compared to the figures from 2022. Colorado cannabis sales continued to slide in November 2023 Medical marijuana sales in November dipped to $14.5 million, down about 11.5% year-over-year.
November marked the fourth consecutive month of sales decreases in Colorado’s cannabis market.
Colorado also had their worst 4/20 cannabis sales numbers in over 5 years.
It appears the state is headed for its second straight year of significant declines in marijuana sales.
Total 2023 cannabis sales in Colorado through November eclipsed $1.4 billion but are on pace to fall well short of the state’s $1.7 billion haul in 2022. as recreational and medical marijuana retailers generated $110.5 million in revenue, the lowest monthly total since February 2017.
Adult-use sales – which accounted for roughly 87% of total sales in the state – fell to $95.8 million, down about 16% year-over-year, according to data released Thursday by the Colorado Department of Revenue.
Colorado’s 2023 marijuana sales are on pace to hit about $1.5 billion, which would be down nearly 13% from 2022.
A Closer Look at the 4-Month Slump
Colorado’s cannabis industry is facing a significant challenge as it contends with a four-month consecutive decline in sales, prompting a closer examination of the underlying factors contributing to this sustained downturn. One critical aspect to analyze is the potential economic and regulatory landscape influencing consumer behavior. Changes in laws, taxation policies, or broader economic conditions may be impacting the purchasing decisions of both medical and recreational marijuana consumers. Additionally, a detailed exploration of market-specific dynamics, such as the emergence of new competitors or shifts in consumer preferences, can offer valuable insights into the reasons behind this prolonged slump.
The persistent decline also raises questions about the impact on businesses operating within the cannabis sector and the overall employment landscape. As sales continue to slide, businesses may be forced to make difficult decisions regarding staffing levels and operational strategies. Investigating how companies adapt to these challenging circumstances provides a nuanced understanding of the industry’s resilience and adaptability. Furthermore, examining the response from regulatory bodies and the government is crucial, as policies and support measures may play a pivotal role in mitigating the adverse effects of the sales downturn, fostering an environment conducive to recovery and growth.
Amidst the ongoing slump, an exploration of shifting consumer behaviors becomes imperative to comprehend the broader market dynamics. Whether consumers are altering their preferences, exploring alternative products, or reacting to external economic uncertainties, understanding these behavioral shifts is vital for predicting future trends. Unraveling the complexities of this four-month decline involves a comprehensive analysis of economic, regulatory, and consumer-related factors, providing stakeholders with actionable insights to navigate the current challenges and position themselves strategically for the future.
Assessing the Implications for the Cannabis Market
The examination of Colorado’s cannabis sales in 2023 in comparison to preceding years highlights a challenging landscape within the state’s marijuana market. The significant disparity between the current revenue figures and the remarkable $1.7 billion achieved in 2022 underscores the gravity of the ongoing decline. A thorough analysis of this trajectory is imperative to discern patterns, anomalies, and underlying factors contributing to the market’s downturn, providing crucial context for evaluating the industry’s overall health and adaptability.
Assessing the implications of the sales decline extends beyond immediate financial concerns, delving into the potential long-term effects on Colorado’s marijuana market. This sustained decrease raises questions about its impact on investor confidence, business strategies, and the broader economic contributions of the cannabis sector to the state. Stakeholders, including policymakers, businesses, and investors, need to carefully consider these long-term implications to make informed decisions about their continued involvement and support for the industry.
Exploring how businesses within the cannabis market are adapting to the challenging conditions is essential in understanding the industry’s resilience. An analysis of potential shifts in focus, such as diversification of product offerings or exploration of new markets, provides insights into adaptive strategies employed by businesses. Understanding these responses contributes to a broader comprehension of the industry’s capacity to navigate evolving market dynamics, showcasing the creativity and flexibility of businesses within Colorado’s cannabis sector.
Examining the 16% Drop in Adult-Use Sales
In November 2023, Colorado’s recreational cannabis sector, representing 87% of total sales, experienced a substantial setback with a pronounced 16% year-over-year decline in sales, totalling $95.8 million. The implications of this downturn, highlighted by data from the Colorado Department of Revenue, necessitate a thorough investigation into the factors influencing this specific market segment and the potential ramifications for the broader cannabis industry.
The sharp decline in adult-use sales directly impacts the overall revenue landscape within Colorado’s cannabis market, accentuating the sector’s significance. The reasons behind the 16% drop involve a nuanced exploration of consumer preferences and regulatory dynamics. Changes in what consumers seek in recreational cannabis products, coupled with shifts in regulatory frameworks, may be contributing factors. Understanding these elements not only offers insights into the present market dynamics but also enables anticipation of potential shifts in consumer behavior that could shape the industry’s trajectory in the future. Amidst these challenges, assessing strategies for recovery becomes essential, as businesses within the recreational cannabis sector may need to reassess marketing approaches, diversify product offerings, or explore innovative avenues to revive consumer interest. This exploration not only sheds light on the resilience of businesses operating in the recreational segment but also underscores their adaptive capacity to navigate and recover from evolving market conditions.
Bottom Line
Colorado’s cannabis industry witnessed a concerning downturn in November 2023, with medicinal marijuana sales hitting a nearly 7-year low at just $14.5 million, marking an 11.5% decline from the previous year. The four-month consecutive slump in sales raises alarm, prompting an in-depth examination of economic, regulatory, and consumer factors contributing to the decline. Despite total cannabis sales surpassing $1.4 billion by November, projections suggest a significant drop compared to the impressive $1.7 billion achieved in 2022. This challenging landscape prompts a closer look at the long-term implications on investor confidence, business strategies, and the industry’s economic contributions, emphasizing the need for adaptive measures and strategic recovery strategies within the cannabis sector.
COLORADO WEED SALES DISAPPEAR, READ ON…
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Latest Trump Weed Rumor – Trump Will Federally Deschedule and Decriminalize Cannabis, but Not Legalize It
Published
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November 14, 2024By
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In a recent interview, former New Jersey Governor Chris Christie made headlines by asserting that President-elect Donald Trump will pursue significant reforms in federal policies regarding marijuana and cryptocurrency. As the nation grapples with evolving attitudes toward cannabis and the burgeoning digital currency market, Christie’s predictions have ignited discussions about the potential implications of such changes on both industries. This article delves into Christie’s insights, the current state of marijuana and cryptocurrency regulations, and the broader implications of these anticipated reforms.
The Current Landscape of Marijuana Legislation
Federal vs. State Laws
Marijuana remains classified as a Schedule I substance under the Controlled Substances Act (CSA), which places it in the same category as heroin and LSD. This classification has created a complex legal landscape where states have moved to legalize cannabis for medical and recreational use, while federal law continues to impose strict prohibitions. As of now, over 30 states have legalized marijuana in some form, leading to a burgeoning industry that generates billions in revenue.
Challenges Faced by the Cannabis Industry
Despite its legality in many states, the cannabis industry faces significant hurdles due to federal restrictions. These challenges include:
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Banking Access: Many banks are hesitant to work with cannabis businesses due to fear of federal repercussions, forcing these businesses to operate largely in cash.
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Taxation Issues: The IRS enforces Section 280E of the tax code, which prohibits businesses engaged in illegal activities from deducting normal business expenses, leading to disproportionately high tax burdens for cannabis companies.
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Interstate Commerce: The lack of federal legalization prevents cannabis businesses from operating across state lines, limiting their growth potential.
Chris Christie’s Perspective on Marijuana Reform
Christie, a former presidential candidate known for his tough stance on drugs during his tenure as governor, has evolved his views on marijuana over the years. In his recent statements, he emphasized that Trump is likely to pursue descheduling cannabis, which would remove it from the Schedule I classification. This move would not only provide clarity for businesses operating in legal markets but also open avenues for banking and investment.
Christie highlighted that descheduling would allow for a more regulated market where safety standards could be established, thus protecting consumers. He believes that this approach aligns with a growing consensus among Americans who support legalization and recognize the potential benefits of cannabis use for both medical and recreational purposes.
The Future of Cryptocurrency Regulation = The Rise of Cryptocurrencies
Cryptocurrencies have surged in popularity over the past decade, with Bitcoin leading the charge as the first decentralized digital currency. The market has expanded to include thousands of alternative coins (altcoins), each with unique features and use cases. As cryptocurrencies gain traction among investors and consumers alike, regulatory scrutiny has intensified.
Current Regulatory Challenges
The cryptocurrency market faces several regulatory challenges that hinder its growth and adoption:
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Lack of Clarity: Regulatory frameworks vary significantly across states and countries, creating confusion for investors and businesses.
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Fraud and Scams: The rapid growth of cryptocurrencies has led to an increase in fraudulent schemes targeting unsuspecting investors.
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Consumer Protection: Without clear regulations, consumers are often left vulnerable to risks associated with volatile markets.
Christie’s Vision for Crypto Regulation
Christie believes that under Trump’s leadership, there will be an effort to find a “sweet spot” for cryptocurrency regulation balancing innovation with consumer protection. He argues that overly stringent regulations could stifle growth in this emerging sector while too little oversight could expose consumers to significant risks.
In his view, a balanced regulatory framework would include:
1. Clear Definitions: Establishing clear definitions for different types of cryptocurrencies and tokens to differentiate between securities and utility tokens.
2. Consumer Protections: Implementing measures to protect investors from fraud while promoting transparency within the market.
3. Encouraging Innovation: Creating an environment conducive to innovation by allowing startups to thrive without excessive regulatory burdens.
Christie’s insights reflect a growing recognition among policymakers that cryptocurrencies are here to stay and that appropriate regulations are necessary to foster growth while safeguarding consumers.
Implications of Proposed Reforms
Economic Impact
The potential reforms proposed by Christie could have far-reaching economic implications:
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Job Creation: Legalizing marijuana at the federal level could lead to significant job creation within the cannabis industry—from cultivation and production to retail sales.
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Investment Opportunities: Descheduling cannabis would open up investment opportunities for institutional investors who have been hesitant due to federal restrictions.
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Boosting Local Economies: Legal cannabis markets have proven beneficial for local economies through increased tax revenues and job creation.
Similarly, clear regulations around cryptocurrencies could stimulate investment in blockchain technology and related industries, fostering innovation and economic growth.
Social Justice Considerations
Both marijuana legalization and sensible cryptocurrency regulations have social justice implications:
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Addressing Past Injustices: Legalizing marijuana could help rectify past injustices related to drug enforcement policies that disproportionately affected marginalized communities.
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Financial Inclusion: Cryptocurrencies offer opportunities for financial inclusion for those underserved by traditional banking systems, particularly in low-income communities.
Political Landscape
The political landscape surrounding these issues is complex. While there is bipartisan support for marijuana reform among certain lawmakers, challenges remain in overcoming entrenched opposition. Similarly, cryptocurrency regulation has garnered attention from both sides of the aisle but requires collaboration to establish effective frameworks.
Conclusion
Chris Christie’s predictions about President-elect Donald Trump’s approach to federal marijuana descheduling and cryptocurrency regulation suggest a potential shift in U.S. policy that could significantly reshape both industries. As public opinion evolves on these issues, lawmakers have an opportunity to enact meaningful reforms that promote economic growth while ensuring consumer protection. The anticipated changes could foster a more robust cannabis industry that contributes positively to the economy and addresses social justice concerns, while clear regulatory frameworks for cryptocurrencies could encourage innovation and protect consumers in the digital economy. Stakeholders in both sectors are closely watching these developments, eager to see how potential reforms might impact their futures. While the realization of Christie’s predictions remains uncertain, it’s clear that the conversation around marijuana and cryptocurrency regulation is ongoing and far from settled.
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Cannabis News
Webinar Replay: Post-Election Cannabis Wrap – Smoke ’em if You’ve Got ’em
Published
1 day agoon
November 13, 2024By
admin
On Thursday, November 7th, Vince Sliwoski, Aaron Pelley and Fred Rocafort held a post election discussion “Post-Election Cannabis Wrap – Smoke ’em if You’ve Got ’em”. Watch the replay!
Key Takeaways from the “Smoke ’em if You’ve Got ’em – 2024 Post Election Cannabis Wrap” Webinar:
- Panelists:
- Vince Sliwoski: Oregon Business lawyer specializing in cannabis and commercial real estate.
- Aaron Pelley: Experienced in cannabis law since Washington’s legalization in 2012.
- Fred Rocafort: Trademark attorney working closely with the cannabis team.
- Election Results Overview:
- Most 2024 cannabis ballot measures did not pass.
- Florida, South Dakota, and North Dakota saw failures.
- Nebraska became the 39th state to legalize cannabis for medical use when it passed two cannabis initiatives, Initiatives 437 and 438.
- Federal and State-Level Developments:
- Medical use is currently legal in 38 states, and 24 states allow recreational use.
- Republican support for marijuana legalization is growing.
- Federal Policy Implications:
- Schedule III Rescheduling: The process to move cannabis to Schedule III is ongoing, which could significantly impact the industry.
- Importance of Federal Appointments: The future of cannabis policy depends heavily on who is appointed to key positions in the administration.
- International and Domestic Trade:
- Schedule III status could ease import/export restrictions on cannabis.
- Unified control of House, Senate, and presidency might expedite legislative progress.
- Economic and Industry Impact:
- Cannabis stocks experienced volatility post-election, reflecting investor uncertainty.
- Federal legalization and banking reforms are crucial for industry stability and growth.
- Future Outlook:
- The potential for federal rescheduling remains strong, with hearings scheduled for early 2025.
- State-level initiatives and regulatory developments will continue to shape the industry.
“How Long Does One Puff of Weed Stay in Your System?”… This topic can be difficult to answer since it is dependent on elements such as the size of the hit and what constitutes a “one hit.” If you take a large bong pull then cough, it might linger in your system for 5-7 days. A moderate dose from a joint can last 3-5 days, whereas a few hits from a vaporizer may last 1-3 days.
The length of time that marijuana stays in the body varies based on a number of factors, including metabolism, THC levels, frequency of use, and hydration.
Delta-9-tetrahydrocannabinol, or THC, is the primary psychoactive component of cannabis. THC and its metabolites, which remain in your body long after the effects have subsided, are detected by drug tests.
Since these metabolites are fat-soluble, they cling to bodily fat molecules. They could thus take a while to fully pass through your system, particularly if your body fat percentage is higher.
THC is absorbed by tissues and organs (including the brain, heart, and fat) and converted by the liver into chemicals such as 11-hydroxy-THC and carboxy-THC. Cannabis is eliminated in feces at a rate of around 65%, while urine accounts for 20%. The leftover amount might be kept within the body.
THC deposited in bodily tissues ultimately re-enters the circulation and is processed by the liver. For frequent users, THC accumulates in fatty tissues quicker than it can be removed, thus it may be detectable in drug tests for days or weeks following consumption.
The detection time varies according to the amount and frequency of cannabis usage. Higher dosages and regular usage result in longer detection times.
The type of drug test also affects detection windows. Blood and saliva tests typically detect cannabis metabolites for shorter periods, while urine and hair samples can reveal use for weeks or even months. In some cases, hair tests have detected cannabis use over 90 days after consumption.
Detection Windows for Various Cannabis Drug Tests
Urine Tests
Among all drug tests, urine testing is the most commonly used method for screening for drug use in an individual.
Detection times vary, but a 2017 review suggests the following windows for cannabis in urine after last use:
– Single-use (e.g., one joint): up to 3 days
– Moderate use (around 4 times a week): 5–7 days
– Chronic use (daily): 10–15 days
– Chronic heavy use (multiple times daily): over 30 days
Blood Tests
Blood tests generally detect recent cannabis use, typically within 2–12 hours after consumption. However, in cases of heavy use, cannabis has been detected up to 30 days later. Chronic heavy use can extend the detection period in the bloodstream.
Saliva Tests
THC can enter saliva through secondhand cannabis smoke, but THC metabolites are only present if you’ve personally smoked or ingested cannabis.
Saliva testing has a short detection window and can sometimes identify cannabis use on the same day. A 2020 review found that THC was detectable in the saliva of frequent users for up to 72 hours after use, and it may remain in saliva longer than in blood following recent use.
In areas where cannabis is illegal, saliva testing is often used for roadside screenings.
Hair Tests
Hair follicle tests can detect cannabis use for up to 90 days. After use, cannabinoids reach the hair follicles through small blood vessels and from sebum and sweat surrounding the hair.
Hair grows at approximately 0.5 inches per month, so a 1.5-inch segment of hair close to the scalp can reveal cannabis use over the past three months.
Factors Affecting THC and Metabolite Retention
The length of time THC and its metabolites stay in your system depends on various factors. Some, like body mass index (BMI) and metabolic rate, relate to individual body processing, not the drug itself.
Other factors are specific to cannabis use, including:
– Dosage: How much you consume
– Frequency: How often you use cannabis
– Method of consumption: Smoking, dabbing, edibles, or sublingual
– THC potency: Higher potency can extend detection time
Higher doses and more frequent use generally extend THC retention. Cannabis consumed orally may remain in the system slightly longer than smoked cannabis, and stronger cannabis strains, higher in THC, may also stay detectable for a longer period.
How Quickly Do the Effects of Cannabis Set In?
When smoking cannabis, effects appear almost immediately, while ingested cannabis may take 1–3 hours to peak.
The psychoactive component THC produces a “high” with common effects such as:
– Altered senses, including perception of time
– Mood changes
– Difficulty with thinking and problem-solving
– Impaired memory
Other short-term effects can include:
– Anxiety and confusion
– Decreased coordination
– Dry mouth and eyes
– Nausea or lightheadedness
– Trouble focusing
– Increased appetite
– Rapid heart rate
– Restlessness and sleepiness
In rare cases, high doses may lead to hallucinations, delusions, or acute psychosis.
Regular cannabis use may have additional mental and physical effects. While research is ongoing, cannabis use may increase the risk of:
– Cognitive issues like memory loss
– Cardiovascular problems including heart disease and stroke
– Respiratory illnesses such as bronchitis or lung infections
– Mood disorders like depression and anxiety
Cannabis use during pregnancy can negatively impact fetal growth and development.
Duration of Effects
Short-term effects generally taper off within 1–3 hours, but for chronic users, some long-term effects may last days, weeks, or even months. Certain effects may even be permanent.
Bottom Line
The amount of time that cannabis remains in your system following a single use varies greatly depending on individual characteristics such as body fat, metabolism, frequency of use, and mode of intake. Frequent users may maintain traces of THC for weeks, whereas infrequent users may test positive for as little as a few days. Hair tests can disclose usage for up to 90 days, while blood and saliva tests identify more recent use. Urine tests are the most popular and have varying detection durations. The duration that THC and its metabolites are detectable will ultimately depend on a number of factors, including dose, strength, and individual body chemistry.
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