Cheddar's CannaBiz explores the latest trends, and news in this expanding market of recreational, and medicinal marijuana. Cheddar's Hope King and Baker Machado speak with start-up founders about how they are capitalizing on cannabis.
Legal technology platform CannaRegs is on a mission to make sense of the legal landscape of marijuana for stakeholders in this growing space. The company's founder and CEO Amanda Ostrowitz explains the regulatory landscape for marijuana, and why she was inspired to launch this start-up.
"I realized the only solution to my problem was to build it," says Ostrowitz. "It's actually kind of influencing the way law is being made because we've been able to track it to such a level where the first time a city government even talks about cannabis--we've tracked it."
Colorado Marijuana sales hit $1.5 Billion in 2017, generating nearly $250 million in taxes and fees for the state. The Cannabist's Marijuana Policy and Business Reporter Alicia Wallace explains why the state sales could face a plateau, and lessons other states could learn from Colorado.
"In Colorado the slowing growth is more of an indicator of a mature market," says Wallace. "We're the guinea pig on this, and we've been able to learn a lot of lessons really quick as this industry came out of nowhere here."
Sensi Products recently underwent a complete redesign to make the transition to solely medical marijuana edibles to consumer products for recreational use. The company's co-founder Lisa Tollner explains how her company made this switch, and her outlook for this expanding market in California.
"For the most part it was a pretty straight forward maneuver for us," explains Tollner. "We saw this coming. I would say as early as five or six years ago we felt it was just a matter of time."
Cheddar's CannaBiz airs every Tuesday from 3:30 to 4:00 p.m.
Catching you up on the stories you need to know this morning, mass shooting victims testify on Capitol Hill, the White House outlines its plan to vaccinate kids younger than five years old, and we break down how to protect yourself from monkeypox.
There are now over 1,000 plant-based restaurants in the U.S. It's clear that people are hungry for vegan alternatives at restaurants nationwide. However, when it comes to pizza, vegan options don't have the best reputation. NUMU Food Group is looking to change that with its brand new vegan mozzarella. Mike Pytlinski, CEO of NUMU Food Group, joins Cheddar News to discuss.
Tattoo artist Katrina "Kat Tat" Jackson, famous for starring in the VH1 hit series "Black Ink Crew: Chicago," is also the first Black woman to own a tattoo shop in Beverly Hills. She joined Cheddar News to discuss her trailblazing work, the stigma BIPOC tattoo artists face in the industry, and the way the space has changed for artists of color since her start. "In the beginning, I remember walking into a tattoo shop just like, hey, I wanna learn, I wanna be a tattoo artist and kind of just being laughed at, not taken seriously," she said. "Even with the tattoo conventions, a lot of African American tattoo artists were almost scared to go to conventions because it's not a welcoming environment."
Jack Miller, Head of Trading at Baird, joined Closing Bell to break down how the Securities and Exchange Commission's proposals would change the landscape for individual investors, as they face stiff opposition from brokerages like Robinhood.
Robotics automation technology company Symbotic made its market debut on the Nasdaq via a SPAC merger with SVF Investment Corp. 3, a special purpose acquisition company sponsored by an affiliate of SoftBank Investment Advisers. Symbotic rang the Opening Bell at the Nasdaq to celebrate the occasion this morning. Its debut on Wall Street comes amid an urgent need for logistics solutions, as it aims to reimagine supply chains with its A.I.-powered robotic and software platform. Tom Earnst, CFO of Symbotic, and Vikas Parekh, managing partner at Softbank Investment Advisors, join Cheddar News' Closing Bell to discuss.
Michelle Castillo joined Closing Bell to break down Elon Musk's announcement to SpaceX employees that the Starlink internet business might not see itself as an IPO until 2025, Twitter planning to hand over the user data he requested as a condition of the acquisition, and Warren Buffet-backed Chinese EV company BYD stating it will be supplying batteries to Tesla "very soon."
