Looking to short Tilray? Good luck

Investors looking to bet against Tilray might have a tough time. Financial analytics firm S3 Partners says there’s a shortage of shares available for investors to borrow for the purposes of shorting them – and that’s leading to stock borrowing fees as high as 110 per cent. Short interest in Tilray is currently sitting at a whopping 20 per cent, but has fallen from a high of 3.86 million shares in the fourth quarter of 2018, according to Bloomberg data.

Pot-infused skincare market could reach US$25B

Cannabis-infused products could stand to grab about 15 per cent – or US$25 billion – of the US$167 billion skincare market, according to Jefferies analyst Stephanie Wissink. CBD, typically touted for its wellness benefits, has seen numerous industries – including beverages, supplements and pet products – begin to incorporate the marijuana ingredient into their products and the beauty industry is no different. No need to worry though, the trace amounts of CBD in these products aren't enough to get you high during your morning skincare routine.

Choom plans U.S. foray through New Jersey investment

Vancouver-based cannabis firm Choom said it is entering the U.S. market after signing a letter of intent to purchase an equity interest in a New Jersey-based medical retail applicant. Choom said in a release the unnamed company also intends to make a foray into recreational cannabis retail upon legalization, which is anticipated in 2020. The deal includes a plan to launch a network of stores using Choom’s medical marijuana brand, Choom Medical Centres, or Choom for potential recreational stores in the future. Choom will be given a royalty for the use of its brand and in turn, plans to help the New Jersey company build out its stores and operations.

New Jersey agrees on legislation to legalize recreational cannabis

New Jersey is one step closer to legalizing recreational marijuana for adults, after Governor Phil Murphy and legislative leaders announced Tuesday that they’ve agreed on a bill after a year of negotiations. If the legislation is passed into law by the Democrat-controlled Legislature, New Jersey would join 10 other U.S. states and the District of Columbia in legalizing recreational pot. According to The Associated Press, New Jersey’s Assembly is expecting a committee vote on the deal on Monday, and a floor vote is possible on March 25.

The search for ‘Miss Marijuana’ is on

You read that right. Scottsdale, Arizona is holding the very first “Miss Marijuana” beauty pageant to crown “the type of girl all the guys want, and all the girls want to be friends with.” The pageant’s website states that contestants must be between the ages of 18 and 30, single and a “natural born” woman. The contest is open to both U.S. and Canadian residents, and those who advance past the online voting stage will move to the finals in Las Vegas, Nevada. Contestants are not required to use marijuana but should support legalization, the pageant’s website says.
 

DAILY BUZZ

“Around US$15 per gram or higher.”
- The estimated cost of Harvest Health & Recreation’s premium flower cannabis, CEO Steve White said in an interview with BNN Bloomberg

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