Professional services firm MGO recently released its second annual “Cannabis 50” honoree list, highlighting companies, organizations, and individuals that had a positive impact on the cannabis and hemp industries during 2020, including Benzinga Cannabis.
The report also features insights on the challenges posed by the COVID-19 pandemic and predictions for 2021, as well as reflections on the role athletes and celebrities have played to celebrate and elevate cannabis culture.
MGO selected 50 honorees who are making wide-ranging impacts in the following categories:
- Doing Well
- Doing Good
- Money Talks
- Knowledge is Power
- All of the Lights (Celebrities and Athletes)
Scott Hammon, National Cannabis Practice Leader at MGO, told Benzinga, “Putting the Cannabis 50 together for 2020 was an interesting endeavor. In a year of great adversity and a challenging economic environment there were so many highlights and positive advancements. A theme we heard from almost all of the honorees was cannabis being deemed essential during the pandemic and the huge public sentiment supporting the legalization of cannabis we saw during the Election.
“The MGO Cannabis Practice works with over 400 clients in the space so we are working side by side with our clients as the industry progresses and are experiencing first-hand the challenges and opportunities”
The Honorees Talk
Some of the most popular predictions we saw from honorees for the coming year included:
- Legislative advancements at the federal level
- Continued consolidation, both in mature and relatively new markets
- A domino effect on the East Coast resulting from New Jersey’s legalization
- A continued focus on financial performance, causing greater disparity in valuations
- Brands and IP, such genetics, becoming increasingly more valued.
Below are some of the top comments included in the report.
Cannabis has been around for thousands of years, yet it is still an industry whose legacy of skilled craftmanship is often overlooked. I created MONOGRAM to give cannabis the respect it deserves by showcasing the tremendous hard work, time and care that go into crafting a superior smoke.
Jay-Z, The Parent Company
I’ve found that CBD supplements are a simple way to enhance my own health and wellness, especially when it comes to managing the stresses of daily life.
Heading into 2021, we are incredibly excited about the consistent maturation and growth of the cannabis industry in the US and globally. In the US, the cannabis industry continues to benefit from political tailwinds as more states adopt medical and/or adult-use cannabis policies, and a Democratic-controlled Congress could provide a framework for accelerated cannabis– reform proposals. With a continued focus on life science and technology businesses within the legal cannabinoid market, Intrinsic is looking forward to partnering with management teams and helping them build and scale industry-leading companies.
Ross Desmarais, Principal of Intrinsic Capital Partners
We should expect not only more licenses and more states approving recreational sales but also increased professionalization. Cannabis users today are like computer users in the 1980’s. They have lots of technical knowledge of the product. Future users will have simpler interests while on a scale of consumption that’s hard to imagine in today’s terms.
Mike Fourcher, Co-Founder of Grown In
Among the 50 honorees included in MGO’s “Cannabis 50” was Benzinga. The report reads:
Benzinga was among the first financial news outlets to offer dedicated coverage of cannabis, and in the process created a trusted editorial voice that has provided valuable observations and commentary on the industry as it has grown and evolved. Led by prolific Cannabis Managing Director Javier Hasse and his team of financial reporters, their expanding coverage includes daily news updates, feature articles, interviews with industry leaders, the weekly Benzinga Cannabis Hour live news show, and downloadable guides on topics like insurance and investing. Never simply cheerleaders celebrating the rise of cannabis, they’ve also penned unflinching critiques of bad business practices and financial missteps, thereby earning the respect of the investors and operators building cannabis from the ground up.
Commenting on the inclusion, Hasse, who also serves as CEO for El Planteo, said:
What we saw in this unprecedented time of turmoil was an increased desire amongst investors looking for information. We’ve worked hard this year to give our audience the best possible coverage while expanding our focus to step wholly into this new climate of tough conversations, spotlighting equality, and fair reporting.
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.