After 45 days of waiting, the second cannabis store in Greater Sudbury has received approval from the province to open.

The HighLife store, owned by Anton Lucic, will be located on Marcus Drive. Lucic is expected to make a formal announcement Thursday on how quickly he will be able to open.

Once its operating, the HighLife store will be the city's second cannabis outlet. Demand has been strong at the Canna Cabana store at the Four Corners, owned by Saturninus Partners. Lineups outside the store have become a regular sight since it opened April 20.

With approval for HighLife, 24 of the 25 cannabis stores approved in Ontario have been given the green light to open. The last store waiting for approval is the Fabulous Leaf outlet in Oshawa. 

The S&P/TSX Composite Index is 2.5% below its highs at the time of writing today, as the broad market selloff continues.

With this, we are seeing increasingly nervous investors that are becoming more aware of the risks out there and less willing to overlook them.

As far as risk goes, the cannabis industry is certainly fraught with it, if only for the reason that this industry is new, so there will be growing pains, unexpected setbacks, and increased volatility in this growth stage.

Primarily known for operating dispensaries in Florida, Trulieve Cannabis Corp. (CSE: TRUL) today announced plans to expand into Connecticut by acquiring an existing storefront. 

Trulieve just entered an agreement to snap up 100% of Bristol-based medical cannabis dispensary The Healing Corner, which has operated in the city since 2014.  

Medical marijuana usage was officially legalized in Connecticut back in 2012. While various bills have been proposed to legalize recreational usage in both 2018 and early 2019, none of them have yet gathered enough support to be passed and hit the governor’s desk. 

Canadians have been able to buy marijuana for recreational use since last October, and that's creating a massive opportunity for cannabis companies, including Tilray (NASDAQ:TLRY).

Tilray reported its latest quarterly earnings earlier this week, and while sales are soaring, so too are its expenses. Here are five facts you should know about Tilray's recent performance.

Village Farms International, Inc.(TSX:VFF) (NASDAQ:VFF), one of the Canadian cannabis stocks, after Thursday’s closing bell reported strong first-quarter results, with both its top line and bottom line witnessing solid growth, aided primarily by a notable performance from its 50%-owned Pure Sunfarms joint venture. Consolidated revenues jumped 26% to US$37.3 million for the quarter with Pure Sunfarms contributing US$5.4 million. Consolidated EBITDA for the first quarter came in at US$1.3 million compared to US$1.8 million in the prior-year quarter.

The Supreme Cannabis Company, Inc. (TSX:FIRE), one of the Canadian cannabis stocks, late Monday announced its third-quarter 2019 financial and operational results. Supreme Cannabis reported a 382% YoY jump in revenue to $9.97 million. Sequentially, revenue grew 29%. The revenue surge can be attributed to increased production at the 7ACRES facility, strong demand for the Company’s premium dry cannabis flower, increased sales volumes and robust wholesale & adult-use pricing. The average price of cannabis flower increased by 26% YoY.

The number of current cannabis users who have consumed cannabis before and during work is alarming and should not be taken lightly by employers, says Ryan Mallough, director of provincial affairs, Ontario for the Canadian Federation of Independent Business (CFIB). “500,000 Canadians is not nothing,” says Mallough. “It is an issue that employers should be aware of.”

Despite cannabis legalization being six months in the rear mirror, some industry players say Canadian cannabis companies are still struggling with a restrictive policy framework that is limiting the sector’s growth and helping the black market to flourish.

In case you haven't noticed, big things are happening in the cannabis landscape. Last year, the first in which a developed country (Canada) had legalized recreational marijuana for adults, the global cannabis industry generated $12.2 billion in sales. By this time next decade, we could see anywhere from $50 billion to $75 billion in worldwide annual pot sales, depending on your preferred estimate from Wall Street.

This growth promotes two trends: expansion and consolidation. Last year was predominantly spent on marijuana growers expanding their capacity at a breakneck pace. But we're liable to see acquisitions and mergers really begin to pick up.

Over the last year, Canada approved cannabis.  More U.S. states are legalizing its recreational or medicinal use. Corporate America is using CBD and hemp oil in everything from lotions and pain balm to beverages. President Trump signed the 2018 Farm Bill into law. Even better, according to Arcview Market Researcher and BDS Analytics, global spending on cannabis is expected to rocket 38% this year to $16.9 billion up from $12.2 billion in 2018.