As the year draws to a close, all eyes are fixed on trends that may change somehow in 2020 (like the crashing cannabis stock prices we've been seeing lately) and on the U.S. state markets set to open. Michigan began adult-use cannabis sales in December, but the marketplace is poised to broaden quite a bit in the new year, and, of course, Illinois will begin its adult-use market on Jan. 1.
Here's the news you'll need to know to get this week started.
- In Michigan, business groups and Republicans are pushing back on a proposed policy that would mandate a "neutral" stance toward unionization efforts among workers in the cannabis industry. The labor peace agreements are being considered as a condition for cultivation, distribution and retail licenses.
- Insurance Business reports that theft is on the rise in the industry. "Approximately 90% of insurance claims in the US cannabis industry so far have involved an element of theft, according to Gerrit Nagarwalla (pictured), claims supervisor at Canopius Group," the magazine stated. In the November issue of CBT, we offered nine tips for preventing internal theft at your business.
- The OC Register took a close look at how California's cannabis industry has grown in its second full year. Spoiler: It's not good for legal operators.
- The Motley Fool, which publishes savvy analysis of the financial sector of the cannabis industry, tees up some trends to keep an eye on in 2020. Chief among them: the possible path to Supreme Court cannabis legalization in Mexico. Such a move would open a huge market (population: 128 million) and place political and economic pressure on the U.S. to act.
- Cannabis stocks have been tanking in the second half of 2019. “This is 2008 for the cannabis industry,” said Kevin Murphy, chairman and CEO of Acreage Holdings, speaking with CNBC. Once again, it's the legalization and licensed adult-use sales in states like Illinois that will be seen as a galvanizing factor in bringing more action to the public cannabis investment pool next year.