Dog Day’s of Summer
Summer is at it’s peak.
Not sure if the intense heat is getting to everyone like the SCOTUS. But I think we are all ready for some peace and quiet. Here are some updates on July cannabis news. Stay cool out there folks!
Canada, Cannabis, Caution
US companies are going to Canada, but not just for the over-polite welcome and maple syrup. American companies are now dipping their toe into the great northern market to mitigate risk, gauge public’s reaction to products, and create partnerships that benefit both parities. While many see Canada as an oversaturated market. US C-Suites still see incredible opportunity with federal level legalization, minimizing hurdles companies with multi-state operations deal with.
Politics and Psychedelics
Amendments to the National Defense Authorization Act (NDAA) were made in order for floor consideration, including language requiring research into therapeutic potential of psilocybin, MDMA and ibogaine. While this amendment is no where near passing, NDAA is still monumental progress toward more accepting and actionable movement in regards to plant medicine as alternatives to opioid treatment. Read more about the NDAA here and what all legal action it entails for veterans, doctors and cannabis banking.
Inflation, Shmalation
Buzzword of the month is inflation.
Whether you’re crying at the grocery store getting eggs, or filling up your gas tank, there seems to be no escape. Except in the wonderful world of cannabis. According New Frontier Data, cannabis consumers are avoiding agonizing sticker shock in one area of their lives. Cannabis flower has a high price elasticity demand (I had to look it up too, it’s ok), which provides consumers the luxury of choice and ensuring that dispensaries are utilizing brand differentiation to survive the bear market. Increasing legalization and presence in different states is also allowing those buying an 1/8th to have easier access to product.
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