Cannabis Daily News
STOCKS
This will be a big test for the cannabis industry
Currently, one of the biggest hurdles for multi-state cannabis companies today is that they can’t trade on a major stock exchange due to the U.S. ban on the drug, reports The Motley Fool.
However, this may change as, the publication highlights, an MJ Biz Daily report revealed that cannabis operator TerrAscend recently applied to list on the Toronto Stock Exchange – which, if successful, may see multi-state operators to follow in its path.
The publication notes that, while it wouldn’t necessarily mean anything for the prospects of getting onto the Nasdaq or New York Stock Exchange, it would at least help inject some liquidity and potentially attract more investors into the mix.
MISSOURI
Missouri, the new cannabis paradise in the US Midwest
Nation World News reports that cannabis sales in Missouri reached USD$103 million in February, the first month since recreational use was approved, up from $37.2 million in January.
The publication highlights that the campaign for legalization in the fall of 2022, is built on the success of the state’s medical use programme, with more than 53% of the electorate supporting cannabis legalization.
The measure was voted by referendum in November and created an economic boom that has brought thousands of consumers from neighboring states.
CBD
GOP Congressman says FDA’s lack of CBD regulations is ‘disrupting public confidence’ in the agency
A Republican congressman told the head of the FDA that the agency’s failure to enact regulations for CBD is one of several problems that is “disrupting public confidence” in its abilities, reports Marijuana Moment.
Rep. Andy Harris (R-MD), a vocal opponent of cannabis legalization who chairs the House Appropriations subcommittee, said that “controversies swirl around the agency.” The publication highlights that one of those controversies is the fact that FDA hasn’t identified a “regulatory pathway for cannabidiol oil after five years and millions of dollars of investments.”
FDA Commissioner Robert Califf said at a hearing in 2022 that he recognized that the agency had moved slowly with rulemaking for CBD in the food supply.
