Mailing Weed Reddit 2021 - Cannabis may be legal in Vancouver, but visitors looking to score are likely to encounter a seemingly counterintuitive proposition: try the black market.
Recreational marijuana was legalized across Canada in October 2018. Yet many cannabis experts in Vancouver still swear by its underground supply on Reddit, the specialist forum site used by millions every day.
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This is one of the biggest problems facing marijuana companies in North America, which experts say are in the midst of a dotcom-style market crash.
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Canada and 11 US states have legalized the recreational use of the drug, just over a year ago, and businesses that grow and sell cannabis have been seen by investors as one of the hottest tickets in town. Now billions of dollars have been wiped from the market values of major industrial companies.
The North American marijuana index, which tracks publicly traded companies in the sector, has fallen 80% in the past year and is at its lowest level since 2016, before more legalization.
The market value of Canopy Growth, the industry's largest company by value, has fallen from $24 billion last April to more than $6 billion, according to figures from financial data firm Y Charts.
About $2 billion of the losses came in the past week. Fears about the coronavirus, which has lowered stocks around the world, have not helped. But much of the decline in Canopy's stock price came after the company was forced to admit it was struggling in Canada.
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The company announced last Wednesday that it is closing two greenhouses in British Columbia - the western Canadian province where Vancouver is located - resulting in the loss of 500 jobs. Canopy, which will focus on cost-effective outdoor growth, also canceled plans for a third Ontario home.
The takeaway from Vancouver's cannabis Reddit feed is that the legal market is struggling to attract buyers because its products are more expensive but of lower quality than black market alternatives.
Government pot is very expensive, Government does not show you a picture of what you are buying before you buy, so you cannot be informed as a customer, Government grass is full of insects, mold, and very dry in some cases, and it often takes time. too far to reach, one user said.
"The law is rubbish," said another Reddit user. A third said: "Friends don't let friends smoke weed in the state."
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Emotions aren't limited to Reddit land. The results of a Canadian government survey released last month showed that 40% of marijuana users in the country admitted to having obtained the drug illegally since its legalization.
Omar Yar Khan, national head of cannabis at Hill & Knowlton consultancy, said legal sales fell short of expectations for a number of reasons. Legal prices - augmented by taxes - have been part of helping to keep the black market "already thriving," he said.
But Khan, who advises several cannabis companies on social issues, also believes Canadian companies are struggling with laws that limit their ability to develop brands.
There are strict regulations regarding the advertising of cannabis companies. Khan said: "It is very difficult to divert loyal customers away from the illegal market to the legal market when there is little sign of customer groups."
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Businessmen have also delayed their efforts to open shops, and most local authorities are against the sale of cannabis in their premises.
"There simply aren't enough legal centers across the country," Khan said. "I think in Ontario we're in our 30s now. But there are over a thousand liquor stores. So if it's not convenient for consumers to get the product through the legal system, why would they ever leave the old illegal market? was it?"
Anthony Dutton, former co-founder and CEO of Cannex - a US-focused marijuana company listed in Canada and recently renamed 4Front after a takeover - believes the sector's share price has been undervalued by some companies. promised investors. He believes that some of these companies are likely to collapse or be taken over by stronger groups in the future.
Dutton, who still owns a stake in 4Front and still advises the company, compared the current crisis in publicly traded cannabis companies to the dotcom crash of the early 2000s.
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"The market got ahead of itself, it started drinking its own Kool-Aid, and it was a model for every bubble," he said. "So what we're seeing now, thankfully, is a lot of companies that may never have been funded — and may never have gone public in the first place — are slowly withering on the vine and just going out of business. 'a.
"Now there will be a network of almosthalflast on the moment, on the next time, the next round of companies, including 4Front.
He added: "It's like the dotcom boom. The others let them die.
Kevin Sabet, head of Smart Approaches to Marijuana - an advocacy group that opposes drug legalization - said that legalizing cannabis is "beneficial" to the black market in many areas because it means customers are concerned about testing the product.
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Sabet, who has advised the White House administration on drug policy, also believes that cannabis companies have misled investors and politicians about the social and economic benefits of legalization.
"Cannabis traders were sold to investors as a sure thing to get a good return," he said. "I think cannabis is overhyped and has a reputation it can never live up to." The Food and Drug Administration (FDA) has announced plans to use Reddit and other "new" sources of information to gain a better understanding of public health concerns surrounding the use of CBD and other "emerging" marijuana. such as delta-8 THC.
The agency published a report on its new plan to expedite information on cannabis products this week, explaining that the federal agency "requires robust information about potential safety concerns or adverse events associated with FDA-regulated products, and that containing [cannabis-derived products],” or CDP.
"FDA also needs information about general patterns of product use and emerging trends — and it needs this information in real time, so FDA can deploy its limited resources quickly and efficiently," she said. "FDA believes that new methods of identifying safety signals and other concepts using diverse data sources and robust analytical methods can significantly contribute to FDA's ability to respond to emerging and urgent product areas. ah, like the CDP market."
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To get the new initiative off the ground, the FDA first examined existing data collection and analysis methods, including "third-party sales data and surveys of tracking systems and mobile apps." This first step allowed the agency to identify data gaps and improve the process.
While seeking collaboration to further develop data-based medical research on cannabinoids, the agency said there are a series of projects in the "feasibility evaluation phase." One of these includes looking at customer-generated content such as Reddit posts to "identify issues that cannot be easily captured through traditional methods."
Another potential project would involve comparing FDA data on CBD product samples and certificates of analysis to identify "inconsistencies and quality issues."
The agency also wants to develop a system to receive "security indicators and usage patterns related to emerging CDPs in real time." That includes delta-8 THC, a cannabinoid that the agency recently warned consumers about because it has not yet evaluated its safety or effectiveness.
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Other cannabis-derived compounds the agency is interested in investigating include delta-10 tetrahydrocannabinol (delta-10 THC), cannabinol (CBN), tetrahydrocannabivarin (THCV), and cannabigerol (CBG).
"Overall, the growth of the CDP market continues to outpace the growth of science and our understanding of the public health effects of these products. The size and complexity of the CDP market—along with the public health concerns associated with CDP—requires the efforts of various stakeholders, and including the FDA and other federal, state, local, territorial and tribal governments, academia and industry, to identify new methods of identifying safety signals and to accelerate appropriate scientific studies, including but not limited to not limited to complex toxicity studies.”
In January, the FDA separately said it would take steps to fill gaps in research on the safety and efficacy of CBD.
The agency said it will work to improve CBD product identification, increase product testing for adverse effect reports, help develop a CBD consumer registry, review market research data and evaluate "what are the best strategies for safety and quality flow of different types. CBD products", and others.
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Last year, the FDA released draft guidance aimed at streamlining the approval of oral CBD medications. The agency also held a comment period on certain drafts
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