In this article, we are going to discuss the best weed strain for focus and creativity. If you’re also curious about which other top strains can help you focus and be more productive, here is our full list of the 20 Best Weed Strains for Focus and Creativity.
Global Cannabis Market:
As we mentioned in our article – The Best Cannabis Strain for Anxiety and Stress Relief – the global cannabis market was valued at $47.32 billion in 2022 and is projected to expand from $57.18 billion in 2023 to $444.34 billion by 2030, growing at a CAGR of 34% during the forecast period.
Marijuana legalization is gaining momentum around the globe, driven primarily by the increasing recognition that the product may have a range of legitimate medicinal benefits and therapeutic applications. It is the most widely cultivated, trafficked, and consumed drug worldwide.
Easing Federal Restrictions:
It was announced on the 16th of May that the US Justice Department has officially proposed a new rule that would reclassify marijuana from a ‘Schedule I’ drug, which includes heroin and LSD, to a less tightly regulated ‘Schedule III’ drug, which includes ketamine and some anabolic steroids. The decision marks a major policy shift by the federal government and while it would neither make the substance legal nor decriminalize it on a federal level, it would recognize the medical uses of cannabis and acknowledge that it has less potential for abuse than the many more harmful drugs. The change would also open more doors to conduct research on marijuana.
Another significant benefit of the reclassification is that it could add fresh arguments for supporters of ballot measures seeking to legalize cannabis in states where it is still illegal. An example of this is Florida, where voters will decide on a constitutional amendment allowing recreational weed this November.
But perhaps the ones benefiting the most from this change are cannabis companies, which after the rescheduling would no longer have to follow tax provisions under a rule called 280E, which prevents them from taking standard business tax deductions. As a result, several marijuana stocks posted solid gains following the announcement.
Canopy Growth Corporation (NASDAQ:CGC) engages in the production, distribution, and sale of cannabis and cannabinoid-based products for both recreational and medical purposes. Following the announcement on May 16th, shares of Canopy Growth Corporation (NASDAQ:CGC) reached a high of $11.95 and closed at $11, roughly 11% over the previous day’s close. The stock has gained approximately 77% since the beginning of the year and is currently held by 6 hedge funds in the Insider Monkey database, with a collective stake value of $4.13 million.
Similarly, Tilray Brands, Inc. (NASDAQ:TLRY) – a craft beer and cannabis company that was among the first to be licensed for medical cannabis in Canada – also saw its share price move up by 6.3% following the important announcement on May 16th. A day later, the company announced that it had filed for the sale of up to $250 million worth of its common stock through an at-the-market equity program. Tilray Brands, Inc. (NASDAQ:TLRY) plans to use proceeds from the sale to fund acquisitions or investments, including potential purchases of assets in the U.S. ‘in order to capitalize on expected regulatory advancements or expansion opportunities’.
Another industry giant, Curaleaf Holdings, Inc., has also stated that it would save more than $150 million in 2024 taxes if 280E is eliminated.
Both Canopy Growth Corporation (NASDAQ:CGC) and Tilray Brands, Inc. (NASDAQ:TLRY) are ranked among the Biggest Marijuana Companies in the World.
State of the Cannabis Black Market:
In countries where recreational cannabis is still illegal, the black market steps in to fill the void. According to a report by the Institute of Economic Affairs, the cannabis black market in the U.K. is worth around $3.3 billion, with 255 tonnes of product sold to about 3 million users every year. The report concludes that if marijuana were legalized in the country, the tax revenues alone, before considering savings to public services, could exceed $1.27 billion a year.
Also across the United States, thriving, unregulated cannabis businesses are threatening to undercut legal markets awaiting banking and tax reform. A report by Whitney Economics has revealed that around 75% of the U.S. cannabis market is illicit sales. The black market doesn’t have to pay taxes and it isn’t limited by state lines, two huge headaches for legalized businesses.
New York is particularly enticing for the illegal cannabis business. That’s partly due to the problematic rollout of legal adult-use cannabis, with critics saying excessive regulations and a complicated licensing process have stymied legitimate efforts. According to New York City Mayor Eric Adams, the number of illegal dispensaries in the Big Apple alone is estimated to be around 1,500.
Things aren’t much different on the other side of the country either. In California – the Largest Cannabis Market in the World – there is a thriving black market that greatly benefits from the restrictions on their licensed competitors, such as sky-high taxes and the fact that only about 40% of local jurisdictions in the Golden State permit cannabis stores, despite state-level legalization since 2016. Last year alone, California’s Cannabis Enforcement Taskforce served more than 300 search warrants on unlicensed operations across the state.
But let’s not forget that the black market is often awash with high-strength, hazardous products and can pose a serious risk to consumer health, as well as the progress of the legal cannabis industry.
With that said, here are the Top Strains for Focus and Creativity in 2024.
Methodology:
To collect data for this article, we referred to sources such as Leafly, Cannabis Business Times, High Times, and Reddit etc., looking for the Best Weed Strains to Boost Focus and Creativity. To make sure we only give you the best of the best, we picked strains that appeared multiple times in the aforementioned sources, assigned them a score of 1 each time they were recommended on these websites, and then summed up the scores and ranked our list accordingly. When two or more strains had the same score, we ranked them by the number of upvotes they received on Reddit.
1. Jack Herer
Insider Monkey Score: 15
Named to honor the famed American cannabis activist who dedicated his life to raising awareness about the benefits of both marijuana and hemp, Jack Herer is a Sativa-dominant strain created from the incredible crossing between Northern Lights #5, Shiva Skunk, and Haze.
Developed by Sensi Seeds, Jack Herer has several awards and accolades under its belt, including the 7th High Times Cannabis Cup, and is renowned for its uplifting and energized effects. JH has been dubbed a great wake-and-bake strain, giving you a balanced high that keeps you feeling relaxed and inspired throughout the day.
To learn about other top strains to help you be more creative, you can check out our detailed list of the 20 Best Weed Strains for Focus and Creativity.
At Insider Monkey, we delve into a variety of topics, ranging from the best weed strains to business aspects; however, our expertise lies in identifying the top-performing stocks. Currently, Artificial Intelligence (AI) technology stands out as one of the most promising fields. If you are looking for an AI stock that is more promising that NVDA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: This article is originally published at Insider Monkey.