Welcome to Senior Cannabis Digest. This week we look at legalization and property values, CBN and sleep, the sharp rise in institutional investing in the cannabis sector and more. Enjoy.
Legal Cannabis and Property Values
The real estate adage that the desirability of a property is based on three factors—location, location and location— seems to apply when cannabis consumers are looking for a place to live.
That’s a key finding of a survey published by the real estate company Redfin. According to Tom Angell, reporting for Marijuana Moment, when folks who recently moved to a new metro area were queried, 46 percent said they prefer to reside somewhere marijuana is “fully legal,” compared to just 22 percent who want to live in a place with prohibition still in effect. In addition, 12 percent of respondents said they would only consider living in places where cannabis can be legally purchased.
Angel also pointed to other studies that indicate legalization plays a role in property values. He cited the results of a study by Zillow that showed that marijuana legalization is associated with higher home property values. Investigators concluded, “Home values increased $6,338 more in states where marijuana is legal in some form, compared to states that haven’t legalized marijuana.”
In addition, he notes that economists at the University of Oklahoma found that states that legalize marijuana see a boost in housing prices, with the effect most pronounced once nearby retail outlets open for business.
Just for the record, we acknowledge that correlation is not necessarily causation. However, in this case legalization and a jump in property values do seem to go together like ham and eggs. This is something mature consumers should consider, particularly when looking for a retirement home.
If you care to learn more we urge you to read Tom Angell’s article in the October 18, 2021 issue of Marijuana Moment. Mr. Angell is the editor and driving force behind the publication and has covered the cannabis beat for over 20 years.
www.marijuanamoment.net/americans-want-to-live-where-marijuana-is-legal-real-estate-survey-finds/
CBN and Sleep
While the cannabinoids THC and CBD tend to get most of the press, a growing number of consumers are turning to a lesser known cannabinoid to achieve that most desired state—a good night’s sleep.
Classified as a minor cannabinoid because it exists in cannabis plants in much smaller quantities than the two main cannabinoids THC and CBD, CBN is becoming increasingly popular as a sleep support supplement that, for some, rivals CBD.
While said by some to have mildly intoxicating effects in very high doses, most people who use it do so in smaller doses for its relaxation and reported sedative effects. It is also said by some to enhance mental clarity and the ability to focus, as well as support a healthy inflammatory function.
According to an article that appeared on the website of Neurogan, a family owned company that produces and markets CBD, it’s recommended that for best results you should take CBN oil about an hour before your bedtime, in order to let the effects of CBN, other cannabinoids, and terpenes take their effects in your system.
The article suggests you should place the CBN oil underneath your tongue and hold it there for 15–20 seconds to allow it to absorb through the network of microcapillaries, which will give you a much higher absorption rate than swallowing it straight.
It also suggests that for best results consumers should look for full spectrum CBN which contains a range of cannabinoids and terpenes, including trace amounts of THC (0.3 percent). This formula will help to compound the effects of cannabinoids due to what’s known as the entourage effect.
To learn more, you can read the article, ‘A Guide to Using CBN For Sleep.’ It appeared in the October 1, 2021 edition of the blog Neurogan publishes on its website.
www.neurogan.com/blog/cbn-for-sleep/
Cannabis Quote of the Week
“Right now in professional sports — being that it’s pretty much allowed in all leagues right now, in some shape, form or fashion — the level of play is still through the roof. 85 percent of the players in the [NBA] smoke, bro. Or use some type of cannabis…It’s a safe and alternative way to deal with shit. Yes, we are supermen. We do make a lot of money. But we have a lot of stress and shit on our plate. Constantly. So what is our vice? What can we use to get away? What’s available to us? Cannabis is recreationally available or decriminalized in 18 NBA markets. So, I pay taxes in this state, I hoop in this state, and you’re trying to tell me I can’t go to the dispensary? It makes no sense.”—Al Harrington.
Mr. Harrington played 16 seasons in the National Basketball Association for the Indiana Pacers, Atlanta Hawks, Golden State Warriors, New York Knicks, Denver Nuggets, Orlando Magic and Washington Wizards.
He is now a cannabis entrepreneur. His company—Viola— is named for his grandmother who, late in life, found that cannabis provided her relief from the pain associated with diabetes and glaucoma.
With over 10 years of experience growing premium flower and producing award-winning extracts, Viola offers a wide variety of strains and products across five states and throughout Canada.
Said Harrington, who is fully committed to the social equity aspects of the cannabis business, “We doin’ god’s work at the end of the day. Black people, we founded America, we built America on our backs and don’t own none of it. Cannabis is now this new opportunity.”
His comments are taken from a profile of basketball great Alan Iverson written by Tyler R. Tynes for GQ. Iverson, who now has a strain developed by Viola named after him, will work with the company to educate the NBA and others on what they describe as the healing power of cannabis and how it can, in some cases, be used as an alternative to prescription drugs.
To learn more we encourage you to read Tyler R. Hynes’s entertaining and informative article in the October 18, 2021 issue of GQ.com.
www.gq.com/story/allen-iverson
Cannabis and Employment
There’s good news for workers in New York State who use cannabis. The New York State Department of Labor has informed employers that they are prohibited from testing employees for cannabis use unless the worker seems visibly impaired while on the job.
According to Jessie O’Neill, reporting for the New York Post, under the new rules, even if an employee smelled of pot smoke, that alone would not be grounds for a test. The guidance issued by the Department states, “Observable signs of use that do not indicate impairment on their own cannot be cited as an articulable symptom of impairment.”
However, as O’Neill points out, employers are within their rights to ban workers from possessing pot on the job site, according to the guidance. In addition, since cannabis remains illegal on the federal level, workers who are required to be tested under federal and state law — such as commercial vehicle drivers — would still have to submit to testing.
While this ruling only applies to workers in the Empire State, it may offer some indication of future trends in other states where medical and recreational cannabis are legal.
You can learn more by reading Jesse O’Neill’s article in the October 19, 2021 issue of the New York Post.
nypost.com/2021/10/19/new-york-employers-cant-test-workers-for-weed-albany-says/
Stats of the Week
This week’s magic number is 82 percent. If, as it has been said, consumers vote with their wallets, then it’s fair to say institutional investors vote with their financing—and 82 percent represents the percentage of increase in institutional investment cannabis companies are seeing in the second half of 2021 when compared to 2020 levels.
That’s the word from Matt Burns, reporting for TechCrunch. According to Burns, cannabis companies are seeing larger checks from equity financing. According to Investopedia, equity financing is the process of raising capital through the sale of shares, such as with an initial public offering, or IPO. Companies may use such financing to pay bills, or they might have a long-term goal and require funds to invest in their growth. By selling shares, a company is effectively selling ownership in their company in return for cash.
If all of this makes your head hurt, here’s the big take away. Federal restrictions aside, financial institutions see long-term opportunities in the cannabis sector and they are willing to back up their opinions with their money.
You can learn more by reading Matt Burns’s article in the October 14, 2021 edition of publicationTechCrunch.
Senior Cannabis Digest is compiled and edited by Joe Kohut and John Kohut. You can reach them at joe.kohut@gmail.com and at 347-528-8753.
