In a significant but not entirely unexpected or surprising blow to the cannabis industry, the Nasdaq stock market has decided to reject the attempt by MassRoots, a social networking site for cannabis enthusiasts, to list on their exchange. The reason: because they may be deemed to...
Your humble blogger was honored yesterday to appear on the SiriusXM Business Radio program "The Business of Health" hosted by the very capable Mitch Goldman. The topic: medical marijuana. We had quite the fascinating group of folks interviewed, including doctors, entrepreneurs and yrs truly. It...
In a recent letter to some US Senators, the Drug Enforcement Administration said it's going to decide during the first half of this year whether to reschedule cannabis from a Schedule I drug, currently deemed as dangerous and worthless medically as heroin. In two previous...
As reported by Bloomberg Business yesterday, an innovative entrepreneurial group has launched Amercanex Corp., where cannabis can trade on an electronic platform. They're already handling sales of up to 150 pounds of pot per week. It's not dissimilar to how the New York Mercantile Exchange started....
The cannabis world continues to expand, mostly with small steps but positive nonetheless, and this is especially true for publicly held companies in the marijuana space. That's what I learned at the Viridian Capital cannabis investor conference today here in New York, where I gave...
In a significant setback, but not really a surprise, for the cannabis industry, the Denver Post reports that newly formed Fourth Corner Credit Union in Colorado cannot force the Federal Reserve Bank to give it approval to operate under federal law. The Fed initially denied Fourth...
An important hearing is taking place in Denver this week in a federal court. There the Fourth Corner Credit Union, established by Colorado to accept cash from cannabis businesses, has sued the US Federal Reserve. Why? Because the Fed said they can't take cannabis cash...
According to Bloomberg, the Native Americans are getting ready to accept cash earned by cannabis growers and sellers who are not able to deposit it in regular banks due to the still federally illegal nature of what they are doing. The report indicates that only...