The Holiday week has everyone clamoring for rest and relaxation, but in the cannabis space there is no rest for the weary. Here. there are still deals to be made and fights to be won as the industry that never sleeps continues to work its way towards legitimacy. If 2020 has taught us anything, it’s that anything can happen, so we better not turn our backs for too long.
The news in the cannabis space has been pretty exciting as we head into the Thanksgiving holiday. We’ve learned about the proliferation of Green Friday sales in the cannabis industry, the need for further studies in the CBD space, and the start of medical cannabis shops in West Virginia.
So let’s take a look at the top stories in the cannabis space for Monday.
Cannabis’ Black Friday is called Green Wednesday: It’s already lit
According to Leafly, Black Friday has morphed into Black Wednesday in the cannabis space. The site writes, “Hundreds of thousands of America’s legal cannabis smokers are set to deluge the nation’s dispensaries this week with orders for “Green Wednesday”—marijuana’s answer to Black Friday and Cyber Monday.”
They continued: “Marketers never miss an opportunity, and California delivery service Eaze claims they coined the term “Green Wednesday” in 2016. Four years later, thousands of legal stores amplify the herd’s swerve toward weed with deals like 5-50% off certain items.”
“It’s becoming more recognized every year,” said John Ford, vice president of retail at Chalice Farms in Oregon in an interview with Leafly.
Worm study shows CBD science has a way to go: Cannabis Weekly
From Bloomberg, “Canopy Growth Corp. just completed one of the first major studies on the lifelong effects of CBD use and found it lengthens life and increases activity in old age -- well, in worms.”
They continued: “While the results were promising, the use of organisms with two-week lifespans shows just how hard the industry is working to try and keep up with demand for hard science, which has been outpaced by consumer hype. After all, CBD is already used by millions of people around the world for conditions like insomnia and anxiety, and there’s been little research in humans on its long-term safety or even its effectiveness.”
Office of Medical Cannabis approves dispensary applications, hoping to have sales start in spring
West Virginia Metro News tells us that, “The state Office of Medical Cannabis is continuing to move forward with approving applications for medical marijuana businesses with hopes of having dispensaries open in the spring.” They continued: “Officials earlier this month approved applications for medical cannabis processors, which will use the plants to create pills, creams and other products for medical use, as well as prepare the plants to be used in a dry leaf form.”