With legislation signed this week in both New York and Ohio, today more than 50 percent of the U.S. population lives in states that have raised the legal age of purchase for all tobacco products to 21.
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Altria Group Inc (NYSE:MO) has opened bullishly above the pivot of $47.57 today and has reached the first level of resistance at $47.84. Should the shares continue to rise, the resistance pivots of $48.32 and $49.07 will be of interest.
Altria Group Inc (NYSE:MO) has opened bearishly below the pivot of $48.63 today and has reached the first level of support at $48.28. Should the shares continue to fall, the support pivots of $47.79 and $46.95 will be of interest.
Cannabis legalization continued its relentless move forward as Illinois became the 11th U.S. state, including the District of Columbia, to fully legalize adult-use of cannabis. Illinois’ house approved the bill with a bipartisan vote of 66-47, which was passed by the Senate in late May. Illinois’ Governor J.B. Pritzker held a firm stance on legalizing cannabis when he campaigned for his position. Primarily, most of the states that have legalized cannabis entirely are located along the west coast or the northeast region of the U.S. Prior to Illinois, Michigan became the 10th state to legalize cannabis back in November 2018 during the U.S. midterm elections. The legalization of cannabis in the U.S. dates back to the 1990s when California first legalized medical use. Following California’s lead, other states such as Oregon, Alaska, Washington, Maine, and Colorado all legalized medicinal cannabis just a few years after. Moreover, all of these states have since legalized the recreational use of cannabis. However, the process to legalize adult-use did not come into effect for more than a decade later when Colorado and Washington completely reshaped the cannabis industry when they became the first states to legalize recreational use back in 2012. North of the border, Canada came into the spotlight when the nation completely legalized cannabis in October 2018, making it the second nation to ever do so, following Uruguay. It is also the only G7 country to have fully legalized the plant. However, the remaining G-7 nations, except for Japan, have all implemented a partial of full medical cannabis legislation, while some have decriminalized the plant for moderate personal use. Overall, numerous large nations have already moved to adopt a form of cannabis legislation. And as a result, more countries are expected to be influenced and explore opportunities within the marketspace. According to data compiled by ArcView Market Research and BDS Analytics, the worldwide consumer spending on legal cannabis was approximately USD 12.2 Billion. By 2022, consumer spending is projected to reach USD 31.3 Billion by 2022 while growing at a CAGR of 26.7% over a five-year frame from 2017. Canopy Rivers Inc. (OTC: CNPOF) (TSX-V: RIV), Tilray, Inc. (NASDAQ: TLRY), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), OrganiGram Holdings Inc. (NASDAQ: OGI) (TSX-V: OGI), Altria Group, Inc. (NYSE: MO)
Cannabis decriminalization and legalization laws have swept through numerous countries across the world, as a plant that was once completely prohibited in virtually every country is now being leveraged for its medicinal benefits. Now, countries such as Argentina, Australia, Brazil, Colombia, Canada, France, Germany, Spain, the U.K, and parts of the U.S. have all adopted some form of medical cannabis legislation. However, despite the global spread of medical cannabis, the market predominantly revolves around the North American region. Primarily, Canada and the U.S. are the largest market drivers because of their early adoption as several U.S. states moved to legalize medical cannabis back in the 1990s. Currently, more than half of the U.S. states have legalized medical cannabis while 11 states and the District of Columbia have legalized its recreational use. Meanwhile, Canada legalized medical cannabis back in 2001 and then fully legalized cannabis in late 2018, allowing access to adult-use cannabis for both medical and recreational purposes. Furthermore, Mexico could potentially join parts of the U.S. and Canada if it moves to legalize cannabis as Mexico’s President Andrés Manuel López Obrador mainly wants to legalize cannabis in order to eradicate the black market scene that has ravaged the country. In Mexico, the cannabis black market has led to many casualties because of the war on drugs. Moreover, consumers typically have no clue where their cannabis is grown and what is treated with during the growing process. As a result, more regions want to create a transparent process while offering its citizens access to a medical alternative. According to data compiled by Imarc Group, the North American legal cannabis market was valued at USD 8 Billion in 2017. By 2023, the market is projected to reach USD 35 Billion while growing at a CAGR of 28% from 2018 to 2023. Pasha Brands Ltd. (OTC: CRFTF) (CSE: CRFT), Canopy Growth Corporation (NYSE: CGC) (TSX: WEED), Altria Group, Inc. (NYSE: MO), Charlotte’s Web Hldgs Inc. (OTC: CWBHF) (CSE: CWEB), Aphria Inc. (NYSE: APHA) (TSX: APHA)
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SoftServe, a leading digital authority and consulting company, was recognized as one of Ukraine’s most attractive employers by the Ernst & Young (EY) Best Employers in 2018: Students Preferences Survey which analyzed preferences of students and experienced candidates when looking for an employer. SoftServe was listed among companies such as, Google, Microsoft, Nestlé, PrivatBank, 1+1 Media, Philip Morris Ukraine, and the Big Four audit and consulting companies.
–Altria announces Annual Meeting voting results.
With the recent boom in the cannabis industry, companies are actively seeking employees to fill various and numerous positions. As cannabis legalization continues to spread, more entrepreneurs are diving into the industry, causing a spur of job openings. And according to Glassdoor’s database, there were 1,512 cannabis job openings in the U.S. in December 2018, a 76% increase from the same period a year prior. Moreover, 53% of the cannabis job openings are for professional and technical workers as service, retail and labor or more physical job openings made up a significantly smaller portion of the market. Nonetheless, positions such as Brand Ambassadors, Sales Associates, Store Managers, Wellness Coordinators, Delivery Drivers, and Lab Technicians were among the most demanded jobs. While there is also a demand for positions such as budtenders or retailers, many companies are looking for candidates with backgrounds in marketing, plant sciences, and accounting. For example, San Francisco and Los Angeles combined account for a quarter of the job openings in the U.S. And while cannabis is still considered federally illegal, the industry’s salary is marginally more than the U.S. median salary. Cannabis-based workers, on average, are compensated roughly USD 58,511 per year, compared to the U.S. median salary of USD 52,863. Due to the diverse nature of the industry, pay can reach upwards of USD 215,384 for positions like medical and legal professionals. Overall, the increasing job market highlights the rapid growth that cannabis has witnessed within recent years. Furthermore, as the industry continues to expand, more positions are to be required in order to comply with state law and safety requirements. As a result, the growing job market adds credibility and legitimacy to the overall cannabis industry, further developing aiding in its development. According to data compiled by Verified Market Research, the global marijuana market was valued at USD 42.2 Billion in 2017 and is projected to reach USD 466.81 Billion by 2025. Additionally, the market is expected to accelerate at a CAGR of 35.3% from 2018 to 2025. Canopy Rivers Inc. (OTC: CNPOF) (TSX-V: RIV), Canopy Growth Corporation (NYSE: CGC) (TSX: WEED), Altria Group, Inc. (NYSE: MO), Pyxus International Inc. (NYSE: PYX), The Scotts Miracle-Gro Company (NYSE: SMG)