Weekly Newsletter: March 28 - April 3, 2020
This week, scientists sue the DEA over an alleged ‘secret’ document that delayed marijuana research expansion and licensing of legal manufacturing facilities. Marijuana legalization seems to be left out of the New York Budget, according to a leaked draft summary document. Eleven Senators are now pushing to let marijuana businesses access Federal Loan Programs. Alcohol and cannabis are two things consumers can’t seem to go without, even in the midst of a global pandemic and a halted economy. Meanwhile, the IRS rejects watchdog recommendations to provide marijuana business tax guidance. In other news, the US Military is interested in using hemp fiber and polymers for their equipment; Wisconsin university researching possibilities.
High Road Design Studio was founded in 2013 by Megan Stone to elevate the cannabis consumer experience, affecting a positive impact on the industry as a whole. By helping dispensary operators capitalize on the benefits enjoyed when design, branding, and visual merchandising are planned into the highly regulated and often intimidating cannabis retail experience, High Road has helped countless dispensaries launch leading brands and change their communities’ perceptions of cannabis. Click their logo to learn more!
Cannabis Industry Stocks are down -1.58% for the day, continuing the bad news cycle that has been perpetuating lately. CannTrust Holdings stock (CTST) was recently notified of the NYSE plans to delist their stock because it does not meet minimum requirements. Many other cannabis companies have announced extensive layoffs, facility closures, and default on loans. Despite the chaos, some investors are finding this a rare opportunity to scoop up distressed assets that are proving to be 'essential' businesses to many states. The inelasticity of cannabis consumption could prove to be recession-proof, but only time will tell.
Scientists Sue DEA Over Alleged ‘Secret’ Document That Delayed Marijuana Research Expansion
The Drug Enforcement Administration (DEA) is finding itself in court over marijuana again after scientists filed a lawsuit against the agency, requesting “secret” documents that they allege DEA used to delay action on expanding cannabis research. The Scottsdale Research Institute (SRI) is behind the suit. It’s one of more than 30 organizations that have submitted applications to DEA to become licensed cannabis manufacturers for research purposes.
>>> Missouri Marijuana Legalization Campaign In Jeopardy Due To Coronavirus
>>> Federal Agency Touts Hemp Progress While Refusing To Serve Marijuana Businesses
>>> Marijuana Legalization Left Out Of New York Budget, According To Draft Summary Document
>>> Eleven Senators Push To Let Marijuana Businesses Access Federal Loan Programs
In a Recession, Demand for Pot Is as Inelastic as Alcohol
Alcohol and cannabis are two things consumers can’t seem to go without, even in the midst of a global pandemic and a halted economy. The newly legal marijuana industry has never weathered an economic downturn, so the industry wasn’t entirely sure how it would perform in one. A survey of 1,005 U.S. consumers by MKM Partners found that demand for pot appears to be just as inelastic as demand for alcohol. When asked whether they were spending more or less on various discretionary categories as a result of the coronavirus pandemic, media, alcohol and cannabis were the categories that showed the highest indications of spending.
>>> High Times Holding Corp. Announces Acquisition of Humboldt Heritage Inc
>>> NYSE aims to boot CannTrust after concluding cannabis producer ‘no longer suitable for listing’
>>> IRS Rejects Watchdog Recommendation To Provide Marijuana Business Tax Guidance
>>> Value Brands Capture a Growing Market Segment
US Military interested in hemp fiber and polymers; Wisconsin university researching possibilities
The U.S. military and researchers at a Wisconsin university are discussing making hemp fiber to replace imported polyester and polymer in Army vehicles – a potential partnership that would return the state to the days it was the epicenter of fiber production during both World Wars.
>>> Cannabis Scientists Are Chasing the Perfect High
>>> Cannabis and Coronavirus: Industry Ramps Up Efforts to Help during Pandemic
>>> Humboldt County Is Managing the Marijuana Green Rush from Space
BEWARE: Rapid response electrochemical biosensor for detecting THC in saliva
This work utilizes non-faradaic EIS to rapidly and precisely detect the THC-BSA hapten spiked in human saliva with high specificity and sensitivity. (LoD: 100 ng/mL) A portable, battery-powered device interfaced with a one-time use saliva swab embedded with the THC detection sensor for easier and faster (< 3-5 minutes) roadside testing when implemented using low-power EIS hardware. Implementing a non-linear RBF kernel SVM algorithm to perform binary classification demonstrated a very high general performance (AUC = 0.951) at predicting the presence of THC within human saliva.
>>> Austin, Texas CBD shop offers drone delivery to reduce person-to-person contact
>>> Study: Cannabinoids Rescue Cocaine-Induced Seizures by Restoring Brain Glycine Receptor Dysfunction
>>> Quibi, Leftfield Pictures prep “Let’s Roll with Tony Greenhand”
>>> Experience of Music Used With Psychedelic Therapy: A Rapid Review and Implications