CannaBiz: Pot Stocks, Virginia's Decriminalization Efforts, & California's Struggles

December 3, 2019
It's been a rough day for the markets but not for cannabis stocks. Shares of Cronos Group, Tilray, Canopy Growth and Aurora were all higher. Emily Flippen, Investment Analyst at Motley Fool, joined Cheddar to discuss. New data shows that in 2018, marijuana arrests rose to their highest level in 20 years in the state of Virginia. According to the Virginia State Police Crime in Virginia report, marijuana arrests have more than tripled since 1999 and increased by 3.5 Percent since 2017. Of the nearly 29,000 arrested, approximately 52% of those individuals were under the age of 24. Virginia Attorney General, Mark Herring, joined Cheddar to discuss his efforts to decriminalize marijuana in 2020. California sales of legal cannabis are expected to top $3 billion this year, more than Washington and Colorado's markets combined. So why are so many California cannabis companies cutting their workforce or scaling back growth plans? Well for starters, the black market in The Golden State is thriving and expected to bring in $8.7 billion this year alone. But that's just one of the many problems the legal cannabis industry in California is facing. Sonia Luna, Founder & CEO, Aviva Spectrum, joined Cheddar to discuss.