Jamaica Faces Unprecedented Cannabis Shortage | Morning Buzz
Cannabis News Update February 15, 2021
Today in the world of cannabis: Jamaica faces an unprecedented cannabis shortage, a study indicates that cannabis may help in reducing high blood pressure, and cannabis stocks see dips in value immediately following a Reddit-generated surge.
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** First up: In a report by Leafly, fueled by heavy rains followed by drought, increased local demand and a decrease in farmers, the country of Jamaica is experiencing a cannabis shortage described by experts as one of the worst ever seen.
Last year, during hurricane season, many cannabis fields were damaged or destroyed. In addition, farmers in the region have said that COVID-19 safety protocols have not allowed them to tend to their crops in the evening.
“Last year was the worst year. … We’ve never had this amount of loss,” said Triston Thompson, chief opportunity explorer for Tacaya, a cannabis consulting and brokerage firm. “It’s something so laughable that cannabis is short in Jamaica.”
“It destroyed everything,” said Daneyel Bozra, a cannabis farmer in a historical village called Accompong, founded by escaped 18th-century slaves.
While Jamaica’s Cannabis Licensing Authority has said that there isn’t a shortage of cannabis in the regulated market, farmers and advocates are saying that legal cannabis available in “herb houses” cannot compete with the black market because it costs anywhere from five to ten times more.
https://www.leafly.com/news/industry/jamaica-yes-jamaica-faces-rare-marijuana-shortage
** And next: DocWire News reports that a new prospective study indicates that cannabis use is associated with a reduction in systolic and diastolic blood pressure in older adults with hypertension. The study was published in the European Journal of Internal Medicine.
“Older adults are the fastest growing group of medical cannabis users, yet evidence on cardiovascular safety for this population is scarce,” Dr. Ran Abuhasira of the BGU Faculty of Health Sciences in Israel, and the BGU-Soroka Cannabis Clinical Research Institute, said in a press release. “This study is part of our ongoing effort to provide clinical research on the actual physiological effects of cannabis over time.”
The results showed that average 24-hour systolic and diastolic blood pressure was reduced by 5.0 mm Hg and 4.5 mm Hg, respectively. The lowest point for blood pressure and measured heart rate occurred three hours after cannabis consumption. Researchers reported that the number of normal “dippers” changed from 27.3% before consumption to 45.5% after consumption.
** Last up: In a report by Investor’s Business Daily, cannabis company stocks saw dips in value immediately following a surge of interest sparked by retail investors and the Subreddit WallStreetBets. The dips came just before the Canadian cannabis company Aurora Cannabis reported its second-quarter earnings.
The day after seeing massive rallies, Aurora stock fell 8.6%. Canada-based Canopy Growth and Cronos Group also saw stock dips of 13.7% and 11%, respectively. Aphria and Tilray, two companies involved in a pending merger, saw their stocks fall 13% and 22.6%, respectively.
The same Reddit group responsible for the short squeeze seen with companies like GameStop and AMC last month helped stocks of Canopy Growth, Aphria and Aurora Cannabis see jumps last Wednesday. Tilray saw the highest level of growth, surging 50% and lifting the stock’s YTD (year-to-date) gain to well over 600%.
https://www.investors.com/news/marijuana-stocks-aurora-cannabis-earnings-q2-2021-acb-stock/
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