APPLE BANS VAPE APPS, AMID FALLOUT

Apple banned vaping-related apps and removed 181 from the App Store. They included hardware companion and store apps.
CNBC

  • Those who already have the apps can continue using them.
    Gizmodo
  • Vaporizer company PAX released a new feature on its app allowing users to see the test results from their Juul-like PAX THC pods. (The app now appears to be banned from the App store.)

Apple’s move comes amid a flood of confusing news, as officials try to determine how, or whether, to further regulate vapes.

“IT WAS ABLE TO PREPARE US FOR BATTLE.”

For Veteran’s Day, Leafly serves up a fascinating piece on weed and the Vietnam War.

“In the naval base, when I went to Vietnam, we started smoking weed—pot, at that time we smoked pot,” he said. “The reality was that it was able to prepare us for battle and all the unknown things. We were 18 and 19-year-old kids. The things that you’d see, you’ve never even seen before. It wasn’t like watching the news.”

After coming home, many continued to use it to treat what’s now called PTSD.

 

WHAT’S IN A NAME? MAYBE NOT MUCH

While some legalization supporters strongly prefer the word ‘cannabis’ to ‘marijuana,’ a study found most people don’t care one way or the other.

Quick Hit

  1. Researchers in Canada took umbrage with a recent study in the Lancet, which found little value in MED as a treatment for mental illnesses. The Canadians say more high quality research is needed. ???? WW Canada has more.
    CB
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  2. Non-profit Drug Policy Alliance announced a new drug education program called Safety First that it’s promoting as an alternative to D.A.R.E.
    Leafly

STATE SNAFUS

In the states this week:

An Ohio judge declared unconstitutional the state’s law that 15% of licensed MED companies must be owned by economically disadvantaged groups.
Cleveland.com

CAN DRAKE RESCUE CANADA’S INDUSTRY?

Rapper Drake became a rare A-lister to join the Green Rush by signing a partnership with Canopy Growth to create a new brand More Life. Structured as a joint venture, it sidesteps Canada’s strict rules surrounding celebrity endorsements. ???? WW Canada has more.
BNN Bloomber
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GROWING PAINS, AND FEES, ON WALL STREET

Wall Street broker dealers don’t know what to do about pot stocks.
WSJ

  • Lack of clarity has led some Wall Street firms to block clients from investing in cannabis stocks and even turn away clients.
  • Some brokers are keeping an eye on clients whose money derives from the industry.
  • Business Insider details the policies of leading banks Morgan Stanley, Merrill Lynch and Wells Fargo.

Gotham Green Partners, a private equity firm co-founded by the CEO of Canadian firm Cronos Group, stands to make $120M from Cronos’s $300M acquisition of California CBD brand Lord Jones.
MarketWatch

Quick Hit

  1. Lawncare company Scotts Miracle -Gro had a good quarter at its cannabis hydroponics business.

THESE 25 START UPS RAISED $2.6B

While the funding climate remains tightBusiness Insider finds 25 cannabis start-ups which have raised a combined $2.6 Billion.
MJBiz

  • Cannabis companies have raised more than $2 Billion this year alone, up from $17M in 2013.

In other fundraising news: Start-up Vana raised $3.5M to place cannabis ads at mainstream publications like Buzzfeed and USA Today. “We like to think of ourselves as DoubleClick meets Shopify,” CEO Sheldon Owen said.
Business Insider

Quick Hit

  1. In a move enabled by Colorado’s new investment law, New York-based Columbia Care agreed to buy OG Colorado chain The Green Solution for approximately $140M.
    Denver Post

COULD IMPEACHMENT DELAY BANKING REFORM?

Senate Banking Committee Chair Mike Crapo (R-Id.) suggested presidential impeachment hearings could delay progress of the SAFE Banking Act in the Senate.

Crapo was vague on timing for the committee to hear the bill. He also supports tightening the House-passed bill in ways opposed by the cannabis industry, such as potency limits.
Marijuana Moment

Also in D.C.: The National Cannabis Industry Association paid nearly half a million dollars to a lobbyist accused of embellishing his connections to the Trump administration. NCIA said it was happy with the lobbyist’s work.
Washington Post