Pot Stocks Closing Out 2021 On a Quiet Note

The last week of the year proved uneventful for cannabis stocks

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Welcome back to our weekly series, Schaeffer's Cannabis Stock News Update, where we recap what happened in the world of marijuana stocks and look ahead to how the cannabis industry continues to shape up as we round out 2021.

A lot of changes will take place on the state level after the clock strikes midnight on New Year's Day in the world of cannabis due to previously confirmed legislation. In California, hospitals will be required to allow certain patients to use medical marijuana. In Colorado, action will be taken to limit the usage of high potency cannabis products by adjusting the daily limit to eight grams of concentrate daily down from 40 grams per day. In Montana, adults 21+ will be able to purchase retail cannabis. In Louisiana, medical marijuana patients will be able to access flower cannabis products for the first time. In Arkansas, out-of-state medical cannabis patients will be able to purchase cannabis for up to 90 days and doctors will be able to recommend medical marijuana via telehealth services.

Here is a quick summary of the only major (and action-worthy!) cannabis stock news from this week:

Teva Israel, a marketing arm of Teva Pharmaceuticals (NYSE:TEVA) confirmed Monday an agreement for Cannbit-Tikun Olam to produce both THC and CBD-centric medical marijuana products for TEVA. This allows Teva exclusive marketing rights for the products in Israel and the Palestinian Authority with the potential to add Ukraine to the list pending developing regulations. According to Teva Israel, “Today, it is clear to many in the pharmaceutical industry and in the medical community that use of oils produced from specific cannabis strains may provide additional treatment options and respond to unmet medical needs of patients.

We have featured a few interviews with cannabis industry insiders lately. Be sure to check them out:

 

 

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