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<ul class="summary-list"><li><keyword id="12214139" type="UNKNOWN" weightage="60" keywordseo="organic" source="Orion">Organic</keyword> gardening brand Back to the Roots expects to generate $100 million in sales in 2022.</li><li>The company sells popular growing kits, seeds, and potting soil to millennials and their kids.</li></ul>Organic garden brand Back to the Roots has grown a lot in 12 years. The company was co-founded by co-CEOs Nikhil Arora and Alejandro Velez in 2009 as an urban mushroom farm. Two years ago, Back to the Roots expanded its product scope to outdoor gardening products, which are now stocked in major retailers across the US.The US lawn and garden industry is dominated by <keyword id="12634136" type="UNKNOWN" weightage="60" keywordseo="scotts-miracle-gro" source="Orion">Scotts Miracle-Gro</keyword>, but Back to the Roots believes it has the momentum to become the go-to brand for <a href="https://joegardener.com/podcast/national-gardening-association-2021-survey-findings/">a rising number</a> of millennial gardeners much more likely to prioritize <keyword id="11896309" type="UNKNOWN" weightage="100" keywordseo="sustainability" source="Orion">sustainability</keyword> and organic products."It accelerated the entrance of a whole generation of millennials into this category of probably five to 10 years," Arora said in reference to COVID-19's impact. "It happened overnight."<h2>Funds to fertilize the future</h2>In mid-November, Back to the Roots said it had raised $15 million in a round of funding known as a Series D. The financing will be used to accelerate product innovation and support greater distribution among retail stores. Prior investors in Back to the Roots include actress and cookbook author Ayesha Curry, professional basketball player Carmelo Anthony, and motivational speaker Tony Robbins. Industry leader Scotts Miracle-Gro generated <a href="https://scottsmiraclegro.gcs-web.com/news-releases/news-release-details/scottsmiracle-gro-announces-record-full-year-results-fourth">more than $9 billion</a> in revenue for the past two fiscal years, ending on September 30, 2021. Consumer purchases for the company were up 21% for the same period, suggesting "a level of consumer enthusiasm" for next year, according to a November 3 <a href="https://scottsmiraclegro.gcs-web.com/news-releases/news-release-details/scottsmiracle-gro-announces-record-full-year-results-fourth">press release</a> from the company.Velez said these figures supported his outlook on how much Back to the Roots can expand. "Scotts built the garden brand for the baby boomer," he said. "And we are building the garden brand for the next generation."<h2>Rapid sales growth through product diversification</h2>The company offers products aimed at beginners, including seed kits and potting soil. Its outdoor gardening products are sold in <a href="https://www.businessinsider.com/costco-target-back-to-the-roots-expanding-2018-8">thousands of</a> Target, Walmart, Lowes, HEB, Costco, and Home Depot locations. Back to The Roots' <a href="https://www.businessinsider.com/how-home-gardening-and-growing-kits-contribute-to-sustainability-initiatives-2021-5">photogenic oyster mushroom kit</a> is currently the number one seller in Amazon's <keyword id="12011693" type="UNKNOWN" weightage="60" keywordseo="home-and-garden" source="Orion">home and garden</keyword> category. The company also has more than 93,000 followers on <a href="https://www.instagram.com/backtotheroots_official/?hl=en">Instagram</a>, where it promises to <a href="https://backtotheroots.com/pages/grow-one-give-one">donate a grow kit </a>and STEM curriculum to an elementary school if users share photos of their Back to Roots garden. Back to Roots has been on an upward trajectory by doubling its sales in the last three years. It aims to keep building on that growth by reaching $100 million in online and in-store sales next year."None of this funding round now would be there if we weren't seeing the consumers demanding this and pulling it through from the shelves," said Arora, noting that the company is already plotting 2023 with their farmers because products will go into the ground in the next few weeks. "There's just so much whitespace ahead of us that we feel like ample room to grow."<h2>A larger cultural shift beyond gardening</h2>Arora and Velez said there are several other factors that supported their company's growth. These include the young average age of Back to the Roots' customers; plus the focus on sustainability among <a href="https://www.cnbc.com/2021/08/10/the-environment-is-gen-zs-no-1-concern-but-beware-of-greenwashing.html">Gen Z consumers</a> and companies that have signed an <a href="https://abcnews.go.com/Business/200-companies-pledge-net-emissions-2040-pressure-private/story?id=80124841">Amazon-backed</a> initiative to achieve net-zero carbon emissions by 2040. There's also a greater willingness among consumers to pay more for organic products—sales in this category jumped 12.4% to <a href="https://produceprocessing.net/news/organic-produce-sales-should-remain-elevated/">$61.9 billion </a>in the US last year. "I think gardening was a decade behind produce in terms of organic awareness," Arora said, pointing to the examples of organic grocer Whole Foods and the eco-friendly cleaning product company Method. "People were willing to pay a premium for a cleaner label that they thought was safer for their family and the planet. I think we're no longer like, 'this is an anomaly'."<h2>A new effort to scale-up sustainability</h2>Back to the Roots wants to revamp its stance on peat, which is partially decayed organic matter typically found in wetlands. The wetlands are an <a href="https://www.washingtonpost.com/world/2021/11/10/cop26-peat-carbon/">incredibly effective storer of carbon</a>, but they have often been drained, cleared, turned over, or mined as a cheap medium for growing crops. All of these actions release an estimated at least <a href="https://www.nature.com/articles/d41586-020-00355-3">2 billion tonnes of carbon dioxide each year</a>— roughly 5% of anthropogenic greenhouse-gas emissions.Arora said Back to the Roots launched the first nationwide peat-free potting mix, and the company plans to offer a peat-free seed-starting mix in the spring. "To us, that's the kind of impact that we can continue to make and want to invest in scaling it up," he told Insider."We are just scratching the surface," Velez said. "We're just getting started."

Organic gardening company Back to the Roots wants to be the Scotts Miracle-Gro for millennial gardeners

<a href="https://www.businessinsider.com/reviews/deals" target="_blank" rel="noopener"></a>When you buy through our links, we may earn money from our affiliate partners. <a href="https://www.insider-inc.com/commerce-on-insider-inc/">Learn more.</a><div type="image" title="81D62ey0CKL._AC_SL1500_" height="913" width="1500" msid="77463074" hostid="261"></div><ul class="summary-list"><li>Today only, you can <a href="https://www.amazon.com/deal/efba2e2b/?&amp;_encoding=UTF8&amp;tag=biip_081020_scotts-yard-care-sale-20&amp;linkCode=ur2&amp;linkId=6152e89061e6438e66c6c40f361990df&amp;camp=1789&amp;creative=9325p=1789&amp;creative=9325" target="_blank" rel="nofollow noopener sponsored">save up to 47% on Miracle-Gro, Scotts, and Ortho lawn care products</a>. </li><li>This sale includes discounts on fertilizer, planting mix, plant food, and more with prices starting at $5. </li><li>Highlights include <a href="https://www.amazon.com/gp/product/B077XMQ6D9/ref=as_li_tl?ie=UTF8&amp;tag=biip_081020_scotts-yard-care-sale-20&amp;camp=1789&amp;creative=9325&amp;linkCode=as2&amp;creativeASIN=B077XMQ6D9&amp;linkId=98d46cfe0b18cfd8d14e06fe892769bf0b18cfd8d14e06fe892769bf" target="_blank" rel="nofollow noopener sponsored">Miracle-Gro tree and shrub plant food spikes for $5</a>, <a href="https://www.amazon.com/gp/product/B005W1QYDO/ref=as_li_tl?ie=UTF8&amp;tag=biip_081020_scotts-yard-care-sale-20&amp;camp=1789&amp;creative=9325&amp;linkCode=as2&amp;creativeASIN=B005W1QYDO&amp;linkId=15fd44c081eaea5ceb913479b7edf22f81eaea5ceb913479b7edf22f" target="_blank" rel="nofollow noopener sponsored">Scotts Turf Builder lawn food for $28</a>, and a <a href="https://www.amazon.com/gp/product/B07P8BHL8H/ref=as_li_tl?ie=UTF8&amp;tag=biip_081020_scotts-yard-care-sale-20&amp;camp=1789&amp;creative=9325&amp;linkCode=as2&amp;creativeASIN=B07P8BHL8H&amp;linkId=fa05838f4b05f7355e8ae85047cd59f14b05f7355e8ae85047cd59f1" target="_blank" rel="nofollow noopener sponsored">$150 Miracle-Gro Twelve indoor growing system</a>.</li><li>See more: <a href="https://www.businessinsider.com/best-gardening-tools" target="_blank" rel="nofollow noopener sponsored">The best gardening and landscaping tools</a>. </li><li>If you're looking for similar deals, check out these great sales on <a href="https://www.businessinsider.com/category/home-deals" target="_blank" rel="noopener">home</a> and <a href="https://www.businessinsider.com/category/kitchen-deals" target="_blank" rel="noopener">kitchen</a>.</li><li>See also: <a href="https://www.businessinsider.com/best-online-sales-deals" target="_blank" rel="noopener">The best online deals and sales happening now</a>.</li></ul>

Amazon is having a one-day sale with up to 47% off Miracle-Gro, Scotts, and Ortho lawn care products

Welcome to <keyword id="9884466" type="UNKNOWN" weightage="60" keywordseo="insider-cannabis">Insider Cannabis</keyword>, our weekly <keyword id="621414" type="PERSON" weightage="60" keywordseo="Newsletter">newsletter</keyword> where we're bringing you an inside look at the deals, trends, and personalities driving the multibillion-dollar global <keyword id="14728" type="ENTERTAINMENT" weightage="100" keywordseo="cannabis">cannabis</keyword> boom.<a href="http://newsletter.businessinsider.com/join/cultivated">Sign up here to get it in your inbox every week</a>.Hello everyone,Breathe out. If you work for, invest in, or lead a cannabis company - this was probably one of the busiest weeks of the summer.Most of the major US cannabis companies or MSOs reported earnings this week, giving us a clear snapshot into how the industry's doing amid the pandemic.For us, that means a whirlwind of calls, interviews, reading, writing, more calls, more interviews, more reading, and more writing. If you tried to reach Yeji or me this week and we haven't gotten back you, now you know why. We're doing our best.Our quick takeaway on the quarter: MSOs like Trulieve, Green Thumb Industries, Verano Holdings and others posted strong quarters in terms of revenue growth and actually turning a profit, compared to their Canadian counterparts. How novel.What else we're watching:Gov. Cuomo's resigning, and industry experts told us <a href="https://www.businessinsider.com/new-york-cannabis-cuomo-resignation-speed-up-marijuana-sales-timeline-2021-8">that'll speed up the rollout of legalization in New York</a>.Trulieve CEO Kim Rivers' husband JT Burnette is on trial over corruption charges associated with real estate purchases he made. The jury is deliberating as we speak.But for the cannabis industry, there's a damning piece: According to audio from a conversation between Burnette and an undercover FBI agent, Burnette claimed he worked with a Republican state representative to create barriers that would benefit his wife's company and keep others out of Florida's lucrative medical marijuana market, <a href="https://www.tallahassee.com/story/news/local/fbi/2021/08/10/j-t-burnette-trial-day-12-federal-prosecutors-cross-examination/5549817001/">the Tallahassee Democrat reported</a>. In an industry like cannabis, in the context of decades of racially motivated policing and incarceration, reputation is everything for leaders of publicly traded cannabis companies that are now profiting from legalization.We're asking CEOs and other execs how they thread that needle in an industry where corporate reputation is of critical importance because of that history and the polarized political environment we all inhabit.If you've got thoughts on that, get in touch with us. - Jeremy Berke (<a href="https://twitter.com/jfberke">@jfberke</a>) &amp; Yeji Jesse Lee (<a href="https://twitter.com/jesse_yeji">@jesse_yeji</a>)If you like what you read, share this newsletter with your colleagues, friends, boss, spouse, strangers on the internet, or whomever else would like a weekly dose of cannabis news. Here's what we wrote about this week:<h3><a href="https://www.businessinsider.com/analyst-list-cannabis-stocks-to-buy-now-after-pullback-2021-8">A top Wall Street analyst says investors are overlooking a 'transformative growth opportunity' in cannabis stocks, and names 9 to buy now</a></h3>Cannabis stocks have pulled back significantly since February and Viridian analyst Jonathan DeCourcey says this creates an opportunity for investors. DeCourcey names 9 stocks in particular that are poised to see "transformative growth."<h3><a href="https://www.businessinsider.com/cannabis-amc-meme-stocks-retail-investors-shareholders-proxy-voting-2021-6">Robinhood just announced a $140 million deal for a startup focused on increasing proxy voting as meme stocks struggle to get participation from retail investors</a></h3>Companies with large retail-investor bases face difficulties reaching a quorum in shareholder votes. "It's hard to get those shareholders to show up and vote," Tilray CEO Irwin Simon told Insider. To address this issue, Robinhood said on Tuesday that it had made a big deal that would help increase proxy voting.<h3><a href="https://www.businessinsider.com/new-york-cannabis-cuomo-resignation-speed-up-marijuana-sales-timeline-2021-8">The cannabis industry says Cuomo's resignation could speed up marijuana sales in New York</a></h3>New York Gov. Andrew Cuomo's resignation amid a wave of sexual assault allegations may be beneficial for the state's fledgling cannabis industry."I think a lot of people in this industry, including some of our clients, are breathing a sigh of relief knowing that the governor of New York is no longer using cannabis as a pawn in unrelated battles," Jeffrey Schultz, partner at cannabis law firm Feuerstein Kulick, told Insider.<h3><a href="https://www.businessinsider.com/cannabis-real-estate-retail-industrial-green-rush-jlll-cushman-cbre-2021-8">THE NEW GREEN RUSH: Risk-taking real-estate brokers who cater to cannabis companies are cashing in</a></h3>Cannabis real estate is projected to be a $50 billion industry by 2027 and some risk-taking brokerages are cashing in, helping cannabis firms find grow houses and retail storefronts.<h3><a href="https://www.businessinsider.com/riv-capital-ceo-narbe-alexandrian-interview-us-cannabis-deals-2021-8">The man building a new cannabis company with cash from Scotts Miracle-Gro lays out his plan to dominate the US with a $320 million war chest</a></h3>A Scotts Miracle-Gro unit is investing $150 million in RIV Capital and RIV Capital CEO Narbe Alexandrian told Insider he's using the money to shop for US cannabis deals. He says he's focused on populous states and said he's looking for distressed deals and for companies with strong teams. <h2>Executive moves</h2><ul><li>Tom Price, the former HHS secretary under President Donald Trump, is joining the board of Botanical Sciences, a cannabis company that recently won a coveted medical license in Georgia, <a href="https://www.marijuanamoment.net/former-anti-marijuana-congressman-and-top-trump-health-official-joins-cannabis-company-board-documents-show/">Marijuana Moment reports</a>. </li></ul><h2>Deals, launches, and IPOs</h2><ul><li>Leafly <a href="https://www.prnewswire.com/news-releases/leafly-to-go-public-through-business-combination-with-merida-merger-corp-i-301350986.html">said</a> on Monday that it plans to go public through a special purpose acquisition company sponsored by Merida Capital Holdings in a deal that values the company at around $532 million. The company plans to trade on the NASDAQ under the ticker "LFLY."</li><li>RIV Capital <a href="https://www.prnewswire.com/news-releases/riv-capital-announces-us150-million-strategic-investment-by-the-hawthorne-collective-a-subsidiary-of-the-scotts-miracle-gro-company-301351777.html">announced</a> on Tuesday that it has received a $150 million investment from The Hawthorne Collective, a subsidiary of The Scotts Miracle-Gro Company. RIV Capital CEO Narbe Alexandrian <a href="https://www.businessinsider.com/riv-capital-ceo-narbe-alexandrian-interview-us-cannabis-deals-2021-8">told Insider</a> he's using the money to shop for US cannabis deals.</li><li>Montréal Cannabis Médical Inc. is <a href="https://www.newswire.ca/news-releases/mtl-cannabis-to-acquire-control-of-canada-house-808267174.html">going public on the CSE</a> through a reverse takeover with Canada House.</li><li>Canadian cannabis company Fire &amp; Flower is <a href="https://www.barrons.com/articles/fire-flower-enters-california-market-as-american-acres-completes-name-change-to-fire-flower-u-s-holdings-01628595341#:~:text=(%22Fire%20%26%20Flower%22%20or,Palm%20Springs%2C%20California%20located%20at">entering the US</a> through a licensing agreement with American Acres Managers, which will change its name to Fire &amp; Flower U.S. Holdings and open a branded dispensary in Palm Springs. </li><li>Psychedelics giant Atai <a href="https://www.globenewswire.com/news-release/2021/08/12/2279817/0/en/atai-Launches-Revixia-Life-Sciences-to-Develop-Salvinorin-A-for-a-Variety-of-Mental-Health-Conditions.html">announced</a> on Thursday that it had launched Revixia Life Sciences, a subsidiary focused on developing Salvinorin A, a compound derived from the psychedelics plant Salvia divinorum.</li><li>Origin Therapeutics <a href="https://www.globenewswire.com/news-release/2021/08/12/2279705/0/en/Origin-Therapeutics-Closes-6-5-Million-Private-Placement-to-Fund-New-Investments-in-Psychedelics.html">said</a> on Thursday that it closed a $6.5 million private placement to fund investments into private, early-stage psychedelics companies.</li><li>BuzzFeed is launching a line of cannabis products, <a href="https://www.forbes.com/sites/javierhasse/2021/08/05/get-your-buzz-on-with-buzzfeeds-new-cannabis-line/?sh=97a3aaf43a3a">Forbes reports</a>.</li></ul><div type="image" title="Cannabis" height="1333" width="2000" msid="85312123" hostid="261"></div><h2>Policy moves</h2><ul><li>Gov. Andrew Cuomo has announced his resignation from office, leaving New York - and the rollout of New York's cannabis industry - to Lt. Gov Kathy Hochul. We've got you <a href="https://www.businessinsider.com/new-york-cannabis-cuomo-resignation-speed-up-marijuana-sales-timeline-2021-8">covered on why experts say this might be beneficial for cannabis</a>. </li><li>As part of the mammoth $1 trillion infrastructure bill that passed the Senate this week, researchers <a href="https://www.marijuanamoment.net/senate-votes-to-let-researchers-study-marijuana-from-dispensaries/">would be allowed to study marijuana</a> that consumers purchase from recreational dispensaries. The bill is now in the House. </li></ul><h2>Earnings</h2><ul><li>Curaleaf released its 2021 <a href="https://ir.curaleaf.com/2021-08-09-Curaleaf-Reports-Record-Second-Quarter-2021-Results">Q2</a> results on Monday, reporting $312 million in revenue and a net loss of $7.2 million.</li><li>Verano Holdings released its 2021 <a href="https://investors.verano.com/news/news-details/2021/Verano-Reports-Second-Quarter-2021-Record-Revenue-of-199M/default.aspx">Q2</a> results on Tuesday, reporting $198.7 million in revenue and a net profit of $6.8 million.</li><li>Acreage Holdings released its <a href="https://investors.acreageholdings.com/financial-information/financial-releases/press-release/2021/Acreage-Holdings-Reports-Second-Quarter-2021-Results/default.aspx">Q2</a> 2021 results on Tuesday, reporting $44.2 million in revenue and a net loss of $2.6 million.</li><li>Harvest Health &amp; Recreation released its <a href="https://investor.harvesthoc.com/press/press-release/2021/Harvest-Health--Recreation-Inc.-Reports-Second-Quarter-2021-Financial-Results/default.aspx">Q2</a> 2021 results on Tuesday, reporting $102.5 million in revenue and a net loss of $19.5 million.</li><li>Ascend Wellness Holdings released its <a href="https://awholdings.com/awh-announces-q2-2021-financial-results/">Q2</a> 2021 results on Tuesday, reporting $83.4 million in revenue and a net loss of $44.9 million.</li><li>Green Thumb Industries released its <a href="https://investors.gtigrows.com/investors/news-and-events/press-releases/press-release-details/2021/Green-Thumb-Industries-ReportsSecond-Quarter-2021-Results/default.aspx">Q2</a> 2021 results on Wednesday, reporting $221.9 million in revenue and a net profit of $22.1 million.</li><li>Columbia Care released its <a href="https://d1io3yog0oux5.cloudfront.net/_f3c290420906e976623f5b06f399cdcd/colcare/news/2021-08-12_Columbia_Care_Reports_Record_Second_Quarter_2021_139.pdf">Q2</a> 2021 results on Thursday, reporting $102.4 million in revenue and a net loss of $10.2 million.</li><li>Trulieve released its <a href="https://www.newswire.ca/news-releases/trulieve-reports-record-second-quarter-2021-earnings-and-expansion-into-new-markets-887024603.html">Q2</a> 2021 results on Thursday, reporting $215.1 million in revenue and a net profit of $40.9 million.</li><li>Charlotte's Web released its <a href="https://investors.charlottesweb.com/press-releases/press-release-details/2021/Charlottes-Web-Holdings-Inc.-Reports-Q2-2021-Results/default.aspx">Q2</a> 2021 results on Thursday, reporting $24.2 million in revenue and a net loss of $5.4 million.</li><li>Hydrofarm Holdings released its <a href="https://investors.hydrofarm.com/news-releases/news-release-details/hydrofarm-holdings-group-announces-second-quarter-2021-results">Q2</a> 2021 results on Thursday, reporting $133.8 million in sales and a net income of $2.3 million.</li><li>Cresco Labs released its <a href="https://investors.crescolabs.com/investors/press-releases/press-release-details/2021/Cresco-Labs-Announces-Second-Quarter-2021-Financial-Results/default.aspx">Q2</a> 2021 results on Friday, reporting $210 million in revenue and a net income of $2.7 million. </li></ul><h2>What we're reading </h2><a href="https://www.politico.com/news/2021/08/10/weed-cannabis-legalization-energy-503004">An inconvenient truth (about weed)</a> (Politico) <a href="https://www.washingtonpost.com/world/2021/08/08/mexico-marijuana-american-border/">Legal U.S. marijuana is pouring into Mexico. It's pricey, popular and has names such as 'Bubba Kush.'</a> (The Washington Post)<a href="https://www.vanityfair.com/style/2021/08/beyonce-building-hemp-honey-farms-health-benefits-for-children-blue">Beyoncé Is Building a Hemp and a Honey Farm</a> (Vanity Fair)<a href="https://thewalrus.ca/what-do-you-do-with-a-billion-grams-of-surplus-weed/">What Do You Do with a Billion Grams of Surplus Weed?</a> (The Walrus)<a href="https://www.statnews.com/2021/08/03/punishing-drug-use-heightens-the-stigma-of-addiction/">Opinion: Punishing drug use heightens the stigma of addiction</a> (Stat News)

Insider Cannabis: Earnings, earnings, earnings

<ul class="summary-list"><li>"<keyword id="252536" type="ENTERTAINMENT" weightage="60" keywordseo="Grease">Grease</keyword>" star <keyword id="62230" type="PERSON" weightage="60" keywordseo="Olivia-Newton-John">Olivia Newton-John</keyword> defended the 1978 musical on Monday against renewed criticism. </li><li>On the "A Life Of Greatness" podcast, she said the movie isn't meant "to be taken so seriously."</li><li>The actress added that people should "relax a little bit" and "enjoy things for what they are."</li></ul><a href="http://insider.com/category/olivia-newton-john">Olivia Newton-John</a>, who starred as soft-spoken cheerleader Sandy Olsson in "<a href="http://insider.com/category/grease">Grease</a>," defended the 1978 musical on Monday from renewed criticism. After the film <a href="https://www.express.co.uk/showbiz/tv-radio/1382126/grease-banned-film-BBC-viewers-sexist-misogynistic-rapey-scenes-video">aired on BBC</a> in December, some viewers said that rewatching "Grease," which is set in the 1950s, over 40 years after its release made them view certain moments in the film as <a href="https://www.express.co.uk/showbiz/tv-radio/1382126/grease-banned-film-BBC-viewers-sexist-misogynistic-rapey-scenes-video">sexist, homophobic, and racist</a>.For example, they argued that the drive-in movie scene and the song "Summer Nights" raised <a href="https://twitter.com/synapse2000/status/1344026803413774343">issues of consent</a>. They also said that the <a href="https://twitter.com/jaidamari_/status/944086502627266560">lack of on-screen diversity</a> was jarring. Newton-John, 72, responded to the recent backlash on Monday's episode of a podcast called <a href="https://twitter.com/olivianj/status/1357421296347271168">"A Life Of Greatness</a>" and calling the criticism "silly."She went on to say that a "fun movie musical" like "Grease" isn't meant "to be taken so seriously.""I think in this particular instance, it's kind of silly because the movie was made in the '70s about the '50s. It was a stage play, it's a musical, it's fun," she explained. The actress added, "I think we need to relax a little bit and just enjoy things for what they are. I didn't see it like that at all, I think it's just a fun movie that entertains people. That's all."<div type="image" title="Grease" height="2709" width="3992" msid="80711647" hostid="261"></div>In the musical, Newton-John co-starred alongside John Travolta, who played high school bad boy Danny Zuko. Decades after the duo shot the film, the actress said she and Travolta remain "really great friends.""We always will be," she said on the podcast, continuing, "I think we shared something incredibly unique, making that film that is still so loved. It keeps our friendship together."Travolta, 66, recently revived a signature "Grease" moment with his daughter Ella Travolta in a <a href="https://people.com/movies/john-travolta-dusts-off-grease-moves-with-daughter-ella-in-super-bowl-ad/">SuperBowl ad for Scotts Miracle-Gro</a>.In the commercial, the father-daughter pair do the hand jive, a dance that Travolta and Newton-John perform in the movie. <ul class="read-more-links"><li>Read more:</li><li><a href="https://www.insider.com/cool-and-interesting-things-you-never-knew-about-grease-fun-facts">17 things you probably didn't know about 'Grease'</a></li><li><a href="https://www.insider.com/grease-cast-then-and-now-photos-2020-5">THEN AND NOW: The cast of 'Grease' 42 years later</a></li><li><a href="https://www.insider.com/olivia-newton-john-shares-heartwarming-christmas-message-2020-12">Olivia Newton-John shares heartwarming Christmas message telling fans 'we'll get through this' as she battles stage four cancer</a></li><li><a href="https://www.insider.com/spanx-buys-olivia-newton-john-grease-pants-cbs-this-morning-video-2019-11">The founder of Spanx bought Olivia Newton-John's skintight pants from 'Grease' for $162,000</a></li></ul>

Olivia Newton-John says people criticizing 'Grease' for being problematic 'need to relax a little bit'

<ul class="summary-list"><li><keyword id="319716" type="COMPANY" weightage="60" keywordseo="Chipotle">Chipotle</keyword> will launch its first-ever <keyword id="101238" type="SPORT" weightage="60" keywordseo="Super-Bowl">Super Bowl</keyword> commercial during the game's second quarter.</li><li>The 60-second advertisement poses the question "Can a Burrito Change the World?"</li><li>Chipotle's resilience and ability to adapt throughout the pandemic has allowed its business to boom.</li></ul>This year, Chipotle will launch its first-ever Super Bowl commercial during the second quarter of the game.The 60-second ad is titled "Can a Burrito Change the World?"The commercial follows a young boy who asks the titular question, while showing the audience the potential impact that Chipotle standards could have on reducing carbon emissions, preserving water resources, and supporting local farmers."Our Super Bowl ad debut is a milestone moment for our brand," said Chris Brandt, Chief Marketing Officer in a press release. "We want to use this massive platform to help shift attention toward creating positive change for the challenges our food system faces and educate consumers on how they can make difference."Buying a commercial spot in the Super Bowl isn't cheap. Advertisers will be spending a <a href="https://www.businessinsider.com/super-bowl-2020-commercials-future-advertising-emarketer">minimum of $5 million</a> for a single 30-second spot this year.Chipotle joins a handful of other restaurant and food-service companies that are launching Super Bowl advertisements for the first time. Little Caesars will debut a commercial during the game for the first time, <a href="https://www.cnbc.com/2020/01/22/little-caesars-super-bowl-commercial-spotlights-doordash-delivery.html">according to CNBC</a>. Food-delivery service DoorDash is also set to air a commercial during the Super Bowl for the first time, <a href="https://www.wsj.com/articles/doordash-is-going-to-the-super-bowl-so-are-other-brands-that-did-well-during-the-pandemic-11611347339">The Wall Street Journal reports</a>.Other companies that performed well during the pandemic and decided to air commercials during the big game for the first time include Fiverr International and Scott Miracle-Gro, according to The Wall Street Journal.Chipotle's resilience and ability to adapt throughout the pandemic has allowed the company's business to <a href="https://markets.businessinsider.com/news/stocks/chipotle-upgraded-to-buy-on-brand-resilience-through-the-pandemic-2020-12-1029899994">boom</a> during a time when many restaurants and chains struggled to stay open. Shares of Chipotle have gained 65% and <a href="https://markets.businessinsider.com/news/stocks/chipotle-stock-price-wedbush-delivery-digital-sales-price-target-2021-1-1029956782">Wedbush analysts</a> expect the stock to surge 14% in 2021.The chain has continually adapted throughout the pandemic and has even started to move toward <a href="https://www.businessinsider.com/chipotles-chipotlane-drive-thru-review-2021-1">taking drive-thru orders</a> in an effort to make itself more accessible and competitive with other chains like McDonalds.On Super Bowl Sunday, Chipotle customers will be able to purchase food without an added delivery price. The company will also be donating $1 from every delivery order on the app or website to the National Young Farmers Coalition. A spokesperson told Insider the advertisement is meant to focus on how the pandemic has changed the role companies like Chipotle play in society."The company believes the global pandemic has shifted consumer behavior to lean towards a community-focused society, further igniting a passion inside of many for making purchasing decisions that drive difference in the world around them," a spokesperson told Insider. Chipotle will be using the commercial as a launchpad for new initiatives that focus on the future careers of young farmers. The company has pledged $5 million over the next five years to further their mission of supporting young farmers.

Chipotle is running its first-ever Super Bowl ad after a strong year that defied expectations

<ul><li>With a successful COVID-19 vaccine on the horizon, some <keyword id="6354298" type="DEFINITION" weightage="60" keywordseo="Stocks">stocks</keyword> may fare better than others.</li><li>According to JPMorgan, investors should look to bet against a handful of stocks that have experienced increased momentum in their business amid the COVID-19 pandemic.</li><li>Once a successful <keyword id="8764262" type="UNKNOWN" weightage="60" keywordseo="covid">COVID</keyword> vaccine is distributed and administered, it could lead to a slowdown in growth for a number of businesses as a return to normal activity ensues.</li><li>Here are 25 stocks traders should bet against once a successful COVID-19 vaccine is disbursed, according to JPMorgan. </li><li><a href="https://www.businessinsider.com/?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestedium=ingest" target="_blank" rel="noopener">Visit Business Insider's homepage for more stories</a>.</li></ul>The development of a successful COVID-19 vaccine could have wide-ranging implications on a basket of stocks that saw a surge in growth amid the pandemic.That's according to a Friday note from JPMorgan, which put together a list of 25 stocks traders should bet against once a COVID-19 vaccine is distributed and administered to the population."This is a list of stocks that are in the upper echelon of Momentum and have crowded positioning, that could see the second derivative of their profit growth decrease as consumer/corporate activity normalizes," JPMorgan explained.On the flip side, Goldman Sachs <a href="https://markets.businessinsider.com/news/stocks/stocks-covid19-vaccine-best-buy-companies-positioned-rollout-gain-invest-2020-10-1029715491">offered six stocks on Friday</a> that could benefit from the distribution and administration of a successful COVID-19 vaccine.The JPMorgan basket of stocks should be viewed as a tactical opportunity to express a bearish view on the catalyst of a COVID-19 vaccine, and should not be viewed as a fundamental call on the company.Here are 25 stocks traders should bet against once a successful COVID-19 vaccine is disbursed, according to JPMorgan. Read more: <a href="https://www.businessinsider.com/investing-strategy-position-portfolio-us-election-jp-morgan-2020-10?r=US&amp;IR=T?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingesttm_medium=ingest" target="_blank" rel="noopener noreferrer">Don't put too much energy into predicting the result -- 5 key tips for clients from strategists at JPMorgan's $1.9 trillion asset management arm with less than two weeks to go to the election</a><a href="https://markets.businessinsider.com/stocks/nvax-stock">1. Novavax</a>YTD Performance: 2190%<a href="https://markets.businessinsider.com/stocks/zm-stock">2. Zoom Video</a>YTD Performance: 654%<a href="https://markets.businessinsider.com/stocks/ostk-stock">3. Overstock.com</a>YTD Performance: 887%<a href="https://markets.businessinsider.com/stocks/fvrr-stock">4. Fiverr International</a>YTD Performance: 583%<a href="https://markets.businessinsider.com/stocks/pton-stock">5. Peloton Interactive</a>YTD Performance: 338%<a href="https://markets.businessinsider.com/stocks/mrna-stock">6. Moderna</a>YTD Performance: 250%<a href="https://markets.businessinsider.com/stocks/stmp-stock">7. Stamps.com</a>YTD Performance: 206%<a href="https://markets.businessinsider.com/stocks/w-stock">8. Wayfair</a>YTD Performance: 199%<a href="https://markets.businessinsider.com/stocks/vsto-stock">9. Vista Outdoor</a>YTD Performance: 171%<a href="https://markets.businessinsider.com/stocks/band-stock">10. Bandwith</a>YTD Performance: 167%Read More: <a href="https://www.businessinsider.com/stock-picks-to-buy-61-companies-upside-earnings-2021-ms-2020-10?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest" target="_blank" rel="noopener">MORGAN STANLEY: Buy these 61 stocks that will offer major earnings-driven upside following an imminent 10% market sell-off</a><a href="https://markets.businessinsider.com/stocks/sam-stock">11. Boston Beer Company </a>YTD Performance: 141%<a href="https://markets.businessinsider.com/stocks/chgg-stock">12. Chegg.com </a>YTD Performance: 127%<a href="https://markets.businessinsider.com/stocks/logi-stock">13. Logitech International </a>YTD Performance: 95%<a href="https://markets.businessinsider.com/stocks/big-stock">14. Big Lots </a>YTD Performance: 81%<a href="https://markets.businessinsider.com/stocks/grub-stock">15. Grubhub</a>YTD Performance: 66%<a href="https://markets.businessinsider.com/stocks/cmg-stock">16. Chipotle Mexican Grill</a>YTD Performance: 63%<a href="https://markets.businessinsider.com/stocks/yeti-stock">17. Yeti Holdings</a>YTD Performance: 47%<a href="https://markets.businessinsider.com/stocks/smg-stock">18. Scotts Miracle-Gro</a>YTD Performance: 47%<a href="https://markets.businessinsider.com/stocks/lrn-stock">19. K12</a>YTD Performance: 40%Read More: <a href="https://www.businessinsider.com/investing-strategy-fed-insider-2-areas-opportunity-danielle-dimartino-booth-2020-10?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">Big investors pay thousands of dollars for Danielle DiMartino Booth's research. The former Fed advisor explains how the central bank has distorted markets - and shares 2 areas where analytical traders can still find returns.</a><a href="https://markets.businessinsider.com/stocks/eqix-stock">20. Equinix</a>YTD Performance: 38%<a href="https://markets.businessinsider.com/stocks/clx-stock">21. Clorox</a>YTD Performance: 38%<a href="https://markets.businessinsider.com/stocks/cost-stock">22. Costco Wholesale</a>YTD Performance: 29%<a href="https://markets.businessinsider.com/stocks/dlr-stock">23. Digital Realty Trust</a>YTD Performance: 29%<a href="https://markets.businessinsider.com/stocks/centa-stock">24. Central Garden &amp; Pet</a>YTD Performance: 26%<a href="https://markets.businessinsider.com/stocks/amwl-stock">25. American Well</a>Performance since IPO: 25%<div type="image" title="jpm short chart.JPG" height="570" width="829" msid="78836262" hostid="261"></div>

These are the 25 stocks to bet against on a successful COVID-19 vaccine, according to JPMorgan

Welcome to <keyword id="9884466" type="UNKNOWN" weightage="60" keywordseo="insider-cannabis">Insider Cannabis</keyword>, our weekly <keyword id="621414" type="PERSON" weightage="60" keywordseo="Newsletter">newsletter</keyword> where we're bringing you an inside look at the deals, trends, and personalities driving the multibillion-dollar global <keyword id="14728" type="ENTERTAINMENT" weightage="100" keywordseo="cannabis">cannabis</keyword> boom.<a href="http://newsletter.businessinsider.com/join/cultivated">Sign up here to get it in your inbox every week</a>.Hello everyone,Can't believe it's already August. We're busy prepping for a whirlwind week of earnings - we've got Curaleaf, Green Thumb Industries, and Trulieve, among many other multistate operators reporting.We've also lined up a few interviews with execs, so get in touch if there are questions you'd like us to ask.What else?Yeji has a look at the <a href="https://www.businessinsider.com/list-top-psychedelics-startups-according-to-vcs-investors-2021">hottest psychedelic startups</a> this year. It could <a href="https://www.businessinsider.com/new-york-recreational-marijuana-timeline-dispensaries-2023-cantor-zuanic-2021-8">take years</a> for pot shops to open in New York - 2023 is one Wall Street analyst's optimistic guess. I went on the WVON Morning Show today to discuss the issues facing social equity licenses in the cannabis industry, the big money lobbying for legalization, and more. If you had a chance to listen, let me know what you think.Let's get to it. - Jeremy Berke (<a href="https://twitter.com/jfberke">@jfberke</a>) &amp; Yeji Jesse Lee (<a href="https://twitter.com/jesse_yeji">@jesse_yeji</a>)If you like what you read, share this newsletter with your colleagues, friends, boss, spouse, strangers on the internet, or whomever else would like a weekly dose of cannabis news. Here's what we wrote about this week:<h3><a href="https://www.businessinsider.com/list-top-psychedelics-startups-according-to-vcs-investors-2021">Here are the 15 hottest psychedelics startups that are set to take off in 2021, according to top investors</a></h3>Insider asked the top VC investors in the <keyword id="2874738" type="PERSON" weightage="60" keywordseo="Psychedelics">psychedelics</keyword> space to name the most promising startups in the industry. They gave us 15 names. Three companies - Gilgamesh Pharmaceuticals, Beckley Psytech, and Delix Therapeutics - received 2 or more votes. <h3><a href="https://www.businessinsider.com/new-york-recreational-marijuana-timeline-dispensaries-2023-cantor-zuanic-2021-8">5 states legalized cannabis this year. But a top Wall Street analyst says it could take years for marijuana shops in states like New York to open.</a></h3>Cantor Fitzgerald's Pablo Zuanic said in a Monday note that despite a slew of new states legalizing cannabis, it could take years before we see dispensaries open in some states. Zuanic predicted that New York's adult-use market won't come online before 2023.<h3><a href="https://www.businessinsider.com/psychedelics-industry-growth-pitch-deck-ipo-ceo-interviews">What to know about the booming psychedelics industry, where companies are racing to turn magic mushrooms and MDMA into approved medicines</a></h3>Everything you need to know about the top investors and hottest companies in the booming psychedelics industry.<h2>Executive moves</h2><ul><li>Former Supreme Cannabis CEO Beena Goldberg is <a href="https://www.businesswire.com/news/home/20210804005368/en/Organigram-Appoints-Beena-Goldenberg-as-Chief-Executive-Officer">taking over as Organigram's CEO</a>, effective September 9. </li><li>Psychedelics company Delix Therapeutics <a href="https://www.prnewswire.com/news-releases/delix-therapeutics-continues-rapid-growth-with-appointment-of-chief-medical-officer-301345293.html">said</a> on Monday that it had appointed clinical development veteran Dr. Brigitte Robertson as chief medical officer. </li><li>Bo Becker, formerly of Charlotte's Web, is <a href="https://www.prnewswire.com/news-releases/papa--barkley-taps-bo-becker-cpg-veteran-as-chief-marketing-officer-301348030.html">taking over as chief marketing officer</a> at California cannabis company Papa &amp; Barkley. </li><li>Cronos Group <a href="https://www.globenewswire.com/news-release/2021/08/06/2276398/0/en/Cronos-Group-Appoints-Bob-Madore-as-Chief-Financial-Officer.html">announced</a> on Friday that Bob Madore, the former American Eagle Outfitters CFO, would be replacing Jerry Barbato.</li><li>The US Cannabis Council <a href="https://www.prnewswire.com/news-releases/us-cannabis-council-elects-akerna-ceo-jessica-billingsley-as-board-chair-301348147.html">named</a> Akerna CEO Jessica Billingsley as board chair. </li></ul><h2>Deals, launches, and IPOs</h2><ul><li>Cannabis hydroponics company Hydrofarm <a href="https://www.globenewswire.com/news-release/2021/08/03/2274105/0/en/Hydrofarm-Acquires-Canada-s-Greenstar-Plant-Products.html">said</a> on Tuesday that it had acquired Canada's Greenstar Plant Products in an $83 million cash and stock deal, the latest in a slew of recent acquisitions by the company.</li><li>Psychedelics company Cybin began trading on the NYSE on <a href="https://www.businesswire.com/news/home/20210804005381/en/Cybin-to-Commence-Trading-on-the-NYSE-American-on-August-5">Wednesday</a>, under the symbol "CYBN." The company said its stocks would continue to trade on the Canadian NEO Exchange under the same ticker.</li><li>Cannabis company Fire &amp; Flower is acquiring assets from Wikileaf, a cannabis information site, in <a href="https://www.newswire.ca/news-releases/fire-amp-flower-announces-expanded-digital-strategy-with-wikileaf-asset-acquisition-and-creation-of-new-branded-online-dispensaries-872887043.html">a $7.5 million deal</a>.</li><li>Prohibition Partners is acquiring cannabis media company Business of Cannabis. The companies <a href="https://prohibitionpartners.com/2021/08/04/prohibition-partners-acquires-business-of-cannabis/">did not disclose financial terms</a>. </li><li>Trulieve is <a href="https://www.prnewswire.com/news-releases/trulieve-introduces-new-brand-portfolio-designed-to-serve-consumers-in-adult-use-and-medical-markets-301349352.html">launching recreational cannabis brands</a> with names like Momenta, Muse, and Sweet Talk.</li><li>MariMed is collaborating with <a href="https://www.globenewswire.com/news-release/2021/08/05/2275573/0/en/MariMed-and-Legendary-Emack-Bolio-s-Brand-Collaborate-To-Create-New-Brand-of-Cannabis-Infused-Ice-Cream.html">Boston-based ice cream company</a> Emack &amp; Bolio to launch a line of cannabis-infused ice cream. </li></ul><h2>Research and data</h2><ul><li>Sand flies that carry leishmaniasis, a parasitic disease, like munching on cannabis plants, according to <a href="https://www.jstor.org/stable/26563786?mag=dude-there-are-sand-flies-that-consume-cannabis&amp;seq=1#metadata_info_tab_contentsents">new research published</a> in the journal Proceedings of the National Academy of Sciences. </li></ul><h2>Earnings</h2><ul><li>The Scotts Miracle-Gro Company released its fiscal 2021 <a href="https://scottsmiraclegro.gcs-web.com/news-releases/news-release-details/scottsmiracle-gro-announces-record-third-quarter-financial">Q3</a> results on Wednesday, reporting $1.61 billion in net sales and $225.9 million in net income.</li><li>Innovative Industrial Properties released its 2021 <a href="http://investors.innovativeindustrialproperties.com/press-releases/2021/08-04-2021-213028536">Q2</a> results on Thursday, reporting $48.9 million in net revenue and $29 million in net income. </li><li>Cronos Group released its <a href="https://ir.thecronosgroup.com/news-releases/news-release-details/cronos-group-reports-2021-second-quarter-results">Q2</a> results on Friday, reporting $15.6 million in net revenue and $56.8 million in net income. </li><li>Canopy Growth released its fiscal <a href="https://www.prnewswire.com/news-releases/canopy-growth-reports-first-quarter-fiscal-2022-financial-results-301350027.html">Q1</a> 2022 results on Friday, reporting $136.2 million in net revenue and $392.4 million in net income.</li></ul><h2>What we're reading </h2><a href="https://chicago.suntimes.com/cannabis/2021/8/5/22610395/social-equity-license-marijuana-cannabis-illinois-craft-grow-sale-flip-cash-in">Some pot license winners now looking to sell to highest bidder</a> (Chicago Sun-Times)<a href="https://mjbizdaily.com/canopy-execs-earn-raises-bonuses-after-cannabis-giant-loses-ca1-7-billion/">Canopy execs earn raises, bonuses after cannabis giant loses CA$1.7 billion</a> (MJ Biz Daily)<a href="https://www.businessinsider.com/strop-treating-prescription-medication-illegal-drugs-differently-2021-7">Opinion: Stop treating prescription meds and illegal drugs differently</a> (Insider)<a href="https://www.cityandstateny.com/policy/2021/08/indigenous-tribes-taking-lead-legal-weed/184235/">Indigenous tribes taking the lead on legal weed</a> (City &amp; State New York)<a href="https://www.politico.com/news/2021/08/01/thc-cannabis-beverages-501951">No hangovers or beer bellies: Cannabis firms try to woo booze drinkers</a> (Politico)<a href="https://cannabiswire.com/2021/07/30/lessons-from-colorado-the-countrys-oldest-cannabis-market/">Lessons from Colorado, the Country's Oldest Cannabis Market</a> (Cannabis Wire)<a href="https://www.inquirer.com/health/opioid-addiction/spl/pa-opioid-addiction-medical-marijuana-research-20210805.html">Pa. patients swear by cannabis as a tool to fight opioid addiction.</a> (The Philadelphia Inquirer)

Top psychedelic startups

<ul class="summary-list"><li>Supply-chain issues have made home-improvement projects more expensive.</li><li>Shipping delays, as well as the Texas freeze, have emptied shelves at stores like Home Depot and Lowe's.</li><li>From refrigerators to cabinets and windows, here are some of the items that are getting pricier.</li></ul>Many home-improvement goods including appliances, paint, and fertilizer are getting more expensive as <a href="https://www.businessinsider.com/household-products-coke-toilet-paper-diapers-coffee-tampons-price-increase-2021-4">companies continue to announce price hikes</a> to combat shortages and rising shipping costs.Price tags on consumer goods have risen over 10% from a year ago, The Wall Street Journal reported over the weekend, citing <a href="https://www.wsj.com/articles/consumers-adjust-to-higher-prices-11620552601?mod=business_lead_pos1">NielsenIQ.</a> Demand for <keyword id="836139" type="ENTERTAINMENT" weightage="60" keywordseo="home-improvement">home improvement</keyword> items caused by the work-from-home boom has <a href="https://www.businessinsider.com/household-products-coke-toilet-paper-diapers-coffee-tampons-price-increase-2021-4">pushed prices to new highs</a> and these <keyword id="172534" type="PERSON" weightage="60" keywordseo="price-hikes">price hikes</keyword> are not showing signs of slowing down anytime soon.<h2>The computer-chip shortage has made home appliances difficult to find</h2><div type="image" title="loading dishwasher" height="1500" width="2000" msid="82537708" hostid="261"></div>The global semiconductor shortage has impacted most electronics, from dishwashers and refrigerators to washing machines. And panic buying of products like freezers during the pandemic has only made the problem worse.Last month, Consumer Reports<a href="https://www.consumerreports.org/refrigerators/when-freezers-are-sold-out-consider-second-refrigerator/"> announced</a> freezers had sold out across the country, citing data from top retailers like Home Depot and Lowe's. The product is not expected to be available until mid-summer, according to the publication. Freezers are just one of many home appliances in short supply. National Housing Board (NHAB) Chief Economist Robert Dietz told Insider about 90% of appliance-delivery dates have been delayed and prices have skyrocketed in recent months.Prices for home appliances have been climbing every week, according to the Josh Wiener, founder of home-improvement firm Silver Lining Inc. He told Insider he's seen delivery dates for refrigerators that have been pushed into October.Steve Cunningham, the CEO of Cunningham Contracting and the chair of the NHAB's Remodelers Council, said there's been times when entire remodeling projects have been delayed weeks just for dishwasher deliveries.In March, Jason Ai, the president of Whirlpool in China, <a href="https://www.businessinsider.com/fridges-microwaves-fall-prey-to-global-chip-shortage-2021-3">told Reuters</a> that the company was facing difficulty sourcing the processors that power more than half of its product lineup, including washing machines, microwaves, and refrigerators.The shortage has been going on for months and is only getting worse. Executives from Swedish appliance giant Electrolux <a href="https://www.businessinsider.com/appliance-shortages-leads-to-delays-for-expensive-stoves-refrigerators-2021-4">said on a conference call in October</a> that it had entered the quarter with "unusually low inventory levels," despite higher production levels. "The increased time spent at home during the pandemic has resulted in more intensive use of appliances and higher share of household budgets allocated to home improvement," executives said at the time. Wiener told Insider that his company has been working to order the items well ahead of time, but they have also seen shortages of the tools needed to hook the appliances up. <h2>The Texas freeze made paint, windows, and vinyl siding more expensive</h2><div type="image" title="Men painting a house home repairs paint" height="1400" width="1866" msid="82537711" hostid="261"></div>Anything that includes resin - vinyl windows, PVC boards, plumbing pipes, and electrical conduits - has become increasingly valuable since the Texas storms. The February deep freeze in the state shut down resin plants and has made windows and vinyl siding increasingly expensive.The storm also led to a hike in prices of plumbing fixtures, as the storm caused a spike in the repair of burst pipes, Dietz said. The Texas storm reduced the nation's capacity to refine petroleum, which means a reduced ability to manufacture nearly all paints. It can be hard to predict which latex paint products will be out of stock and prices are continually fluctuating, Wiener told Insider."A lot of it is hit or miss," he said. "Most of the places we would normally buy from are sold out. Lately we have been forced to pivot and find new vendors."<h2><keyword id="10881461" type="UNKNOWN" weightage="60" keywordseo="lumber-prices">Lumber prices</keyword> have pushed flooring, cabinets, and deck prices higher</h2><div type="image" title="GettyImages 520950968" height="2672" width="3563" msid="82537713" hostid="261"></div>Lumber accounts for about 20% of a home, according to John Bitely, president of Sable Homes. He told Insider the <a href="https://markets.businessinsider.com/news/stocks/lumber-prices-top-1600-first-time-amid-homebuilding-boom-2021-5-1030392438">record lumber prices</a> have forced his company to raise their home-building prices.Lumber prices are adding about $36,000 to new single-family homes, according to Dietz."As a company, there's nothing we can do but pass those prices through to the customer," Bitely said.Any item that is made out of wood is facing significant price hikes and shortages, Dietz told Insider. From cabinets to flooring, decking, and doors, the products' prices are skyrocketing along with lumber prices, which Dietz expects won't slow down until well into 2022.<h2>Price tags on outdoor gear are also spiking</h2><div type="image" title="Outer outdoor furniture" height="1333" width="1777" msid="82537715" hostid="261"></div>Increased interest in stay-at-home options, including staycations, has created a renewed interest in outdoor home improvement. Dietz told Insider that one unusual shortage is a lack of cushions for outdoor furniture.Lawn and garden-care products have also had price hikes in recent months. Last week, Scotts Miracle-Gro announced <a href="https://scottsmiraclegro.gcs-web.com/investor-relations">during its quarterly earnings call</a> it would increase prices by single-digit percentages, after record sales in 2020."I don't think we have a choice here," the company's CEO Jim Hagedorn said. "Every raw material we're buying right now is at a materially higher cost than we had planned."It has been difficult for companies to adapt."The biggest problem is the shortage is random so it's very difficult to fix or nail down," Bitely told Insider. "Because it's impacting nearly every facet of the supply chain, it will be difficult to make it go away."Dietz told Insider he doesn't see a clear end in sight for the supply-chain issues."The advice I give builders and remodelers is that at least for the duration of this year we are going to see an increase in the pricing for our materials," Dietz said. "It's an unsustainable trend and it's imperative for policy makers to improve these supply chains.

Your home improvement project just got a lot more expensive. From dishwashers to paint and fertilizer, here are the goods in short supply.

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Jay MantriNikhil Arora (left) and Alejandro Velez founded Back to the Roots nearly 10 years ago. They are using a partnership with Scotts Miracle-Gro and Acre Ventures to bring their mushroom kits and other ready-to-grow products to more retail stores nationwide.</div></div></div><ul><li>Back to the Roots, which sells ready-to-grow mushroom kits and other products, has received $4 million in funding to expand its distribution nationwide.</li><li>The startup has also signed a licensing agreement with Nature's Path to bring its organic cereal to public schools all around the US.</li><li>Co-founder Alejandro Velez said the startup is targeting millennial parents, who want to know how their food is made and often have little space for gardening.</li><li>Back to the Roots also focuses on educating children about sustainability and where food comes from.</li></ul>Before Alejandro Velez and Nikhil Arora founded <a href="https://backtotheroots.com/">Back to the Roots</a> nearly 10 years ago, they were growing mushrooms in a fraternity kitchen at University of California, Berkeley.Now a $4 million investment led by <a href="http://acre.vc/">Acre Ventures</a> and <a href="https://scottsmiraclegro.com/">Scotts Miracle-Gro</a> - the largest lawn and garden company in the world - will help the startup bring its mushroom kits and other ready-to-grow products (including tomato kits and aquaponic fish tanks) to a greater number of retailers. The startup was already partnering with retailers like Target and Costco, but the money will allow it to sell products in more of their stores. This funding follows a $10 million investment made in 2016.Velez told Business Insider that the investment will allow Back to the Roots to reach more customers than before.The startup is targeting millennial parents, who tend to seek out organic food and want know how their food is made. Its ready-to-grow products are compact enough to be used indoors, which makes them accessible to people with little or no space for gardening. While Back to the Roots' revenue comes largely from retail stores, Velez wants to educate children about the process of making food. Many children believe food is made in grocery stores or trucks; Velez recalled speaking with a boy who did not recognize a pear because it was not cut up in squares - the only form he had ever seen it in.Back to the Roots has also signed a licensing agreement with <a href="https://www.naturespath.com/en-us/">Nature's Path</a>, allowing North America's largest organic cereal brand to manufacture and distribute the startup's organic cereal all around the US.For the past year and a half, more than 1 million New York public school students have had access to Back to the Roots cereal in cafeterias. The cereals contain a minimal amount of sugar have just three to four ingredients. Velez said this is the first organic cereal to be offered in a school district.In addition to New York, the organic cereal is already available schools in San Jose, California; Boulder, Colorado; and Austin, Texas. Back to the Roots is also in talks with the <a href="https://www.urbanschoolfoodalliance.org/">Urban School Food Alliance</a>, which supplies food to the 10 largest school districts in the US, about a partnership.Velez said the indoor gardening kits have been approved as educational materials in 1,500 schools, and the upcoming expansion will help more students connect what they are learning to what they are eating."Imagine that a kid gets to learn about the <keyword id="41551" type="ENTERTAINMENT" weightage="100" keywordseo="science">science</keyword> and sustainability of growing food in the classroom and then they walk over to the cafeteria and they also see a Back to the Roots product with the same philosophy," he said. "That was our back-of-the-envelope vision."As Back to the Roots expands its ready-to-grow products for more adults to buy in retail stores, Velez said he hopes to one day create garden programs in every American school and to provide better food to all children in schools."We like to think of ourselves as the Pixar of food," he said. "Whether you are 8 or 58, you love our products, either the ones that you are eating or growing. You love them for totally different reasons." <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/why-plastic-straws-suck-ocean-pollution-sea-turtle-starbucks-2018-7">Why plastic straws suck</a></h3> <div> </div> </div>

A startup selling mushrooms kits to millennials just got $4 million to expand further into Costco and Target

Welcome to <keyword id="9884466" type="UNKNOWN" weightage="60" keywordseo="insider-cannabis">Insider Cannabis</keyword>, our weekly <keyword id="621414" type="PERSON" weightage="60" keywordseo="Newsletter">newsletter</keyword> where we're bringing you an inside look at the deals, trends, and personalities driving the multibillion-dollar global <keyword id="14728" type="ENTERTAINMENT" weightage="100" keywordseo="cannabis">cannabis</keyword> boom.<a href="http://newsletter.businessinsider.com/join/cultivated">Sign up here to get it in your inbox every week</a>.Happy Friday readers,This week was dominated by the news that <a href="https://www.businessinsider.com/list-new-jersey-cannabis-power-players-legal-marijuana-2020-11">New Jersey finally legalized cannabis</a>, months after over two-thirds of New Jerseyans voted to legalize. The state's difficulty in passing overwhelmingly popular legislation offers a cautionary tale to other states that are hoping to legalize to pave over budget deficits and spur criminal justice reform. It's a lot easier said than done. And it may take years to actually see the promised tax revenue from a fully established cannabis market.In other news, there was a flurry of deals in the cannabis sector this week. Yeji and I have <a href="https://www.businessinsider.com/new-york-legalize-cannabis-marijuana-stocks-deals-m-a-2021-2">a look at what that means for New York</a> - a key market for cannabis companies - <a href="https://www.businessinsider.com/top-cannabis-lps-and-msos-on-merger-acquisition-2021-1">as well as what that means for the US more generally</a>. We don't have a crystal ball, but we outlined some specific acquisition targets in our story. We're already being proven correct.Last, I moderated a pair of panels at <a href="https://www.benzinga.com/events/cannabis/virtual/">Benzinga's Cannabis Capital Conference</a> with Louie Reformina, of Turing Points Brands, and Andrew Thut, of 4Front. We touched on a number of issues including M&amp;A trends in cannabis, ironing out the kinks of state legalization, and more.Let's hit it. -Jeremy (<a href="https://twitter.com/jfberke?lang=en">@jfberke</a>) and Yeji (<a href="https://twitter.com/jesse_yeji?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor">@jesse_yeji</a>)Here's what we wrote about this week:<h3><a href="https://www.businessinsider.com/new-york-legalize-cannabis-marijuana-stocks-deals-m-a-2021-2">New York is pushing to legalize marijuana. Here are the prime acquisition targets and the types of deals you can expect.</a></h3>As New York lawmakers push hard to legalize cannabis this year, cannabis companies are eyeing acquisitions as a way to enter the state. Experts told Insider that private companies and struggling MSOs looking to sell off assets to stabilize their balance sheets, are likely to be acquisition targets. <h3><a href="https://www.businessinsider.com/top-cannabis-lps-and-msos-on-merger-acquisition-2021-1">The world's largest cannabis companies are jockeying to dominate the lucrative US market. 7 top CEOs and executives break down the deals you can expect.</a></h3>The US cannabis industry is set for a flurry of deals as Democrats on Capitol Hill make cannabis reform a core issue and new state markets open. Insider spoke with CEOs and execs at seven of the top US and Canadian cannabis companies who said they're focused on expanding to dominate the lucrative US market. <h3><a href="https://www.businessinsider.com/list-new-jersey-cannabis-power-players-legal-marijuana-2020-11">Meet the 13 power players shaping the future of New Jersey's potentially $1 billion market for recreational marijuana</a></h3>Governor Phil Murphy signed legislation to legalize cannabis in the Garden State on Monday. Meet the 13 power players, from lawmakers to executives, shaping the future of New Jersey's cannabis industry.<h3><a href="https://www.businessinsider.com/new-york-cannabis-deals-medmen-ascend-wellness-holdings-awh-2021-2">New York cannabis M&amp;A is already heating up</a></h3>Struggling cannabis companies with licenses in New York are likely acquisition targets. Ascend Wellness said it would take a majority stake in MedMen's New York assets.There may be other deals to come as New York moves toward cannabis legalization<h2>Executive Moves</h2><ul><li>Terry Booth, the former CEO of Aurora Cannabis, will <a href="https://www.newswire.ca/news-releases/australis-completes-definitive-agreement-to-acquire-51-stake-in-alps-850298543.html">be taking over as CEO of Australis Capital</a>. </li><li>Clever Leaves <a href="https://www.globenewswire.com/news-release/2021/02/22/2179519/0/en/Clever-Leaves-Strengthens-Leadership-Team-and-Appoints-Hank-Hague-as-Chief-Financial-Officer.html">announced</a> that Hank Hague would be joining the company as chief financial officer </li><li>Acreage Holdings <a href="https://www.globenewswire.com/news-release/2021/02/23/2180341/0/en/Acreage-Announces-Management-Change.html">announced</a> that CFO Glen Leibowitz is leaving the company. Steve Goertz, former CFO of sgsco and a partner at Bespoke Capital Partners, will be taking over as CFO starting April 2.</li><li>Agrify <a href="https://ir.agrify.com/news-releases/news-release-details/agrify-announces-formation-strategic-advisory-board">announced</a> the formation of its new advisory board on Wednesday, including Rosie Mattio, CEO of MATTIO Communications, and Matthew Kressy, founding director of the MIT Integrated Design &amp; Management program. </li><li>Fyllo <a href="https://www.prnewswire.com/news-releases/twitters-katie-ford-joins-fyllo-as-chief-operating-officer-301235327.html">announced</a> it would be bringing on Twitter veteran Katie Ford as the company's new COO.</li><li>New Jersey has <a href="https://mjbizdaily.com/new-jersey-fills-remaining-slots-on-marijuana-oversight-commission/">filled the remaining spots on its Cannabis Regulatory Commission</a>, including Maria Del Cid, director of policy at New Jersey Department of Health, William Wallace of the United Food and Commercial Workers International Union, and Sam Delgado a former VP at Verizon. </li></ul><h2>Deals, launches, and IPOs</h2><ul><li>Ascend Wellness Holdings announced on Thursday that it is <a href="https://www.businesswire.com/news/home/20210225006313/en/MedMen-Announces-Investment-from-AWH-into-MedMen%E2%80%99s-New-York-Operations">investing $73 million in MedMen's New York assets</a>, pending state approval. Read our story from this week where <a href="https://www.businessinsider.com/new-york-legalize-cannabis-marijuana-stocks-deals-m-a-2021-2">we outlined why MedMen's New York assets are a potential acquisition target</a>.</li><li>Acreage Holdings <a href="https://www.globenewswire.com/news-release/2021/02/25/2182283/0/en/Acreage-Announces-Sale-of-Florida-Operations-To-Red-White-Bloom-Brands.html">announced</a> it would sell its Florida operations to Red White &amp; Bloom Brands for $60 million in a cash and stock deal. </li><li>Indus Holdings is acquiring <a href="https://www.globenewswire.com/news-release/2021/02/25/2182686/0/en/Indus-Holdings-Inc-Announces-the-Acquisition-of-Lowell-Herb-Co.html">Lowell Herb Co., for $39 million in cash and stock</a>. The combined company will operate under the name Lowell Farms Inc.</li><li>Parallel, the cannabis company run by Beau Wrigley, Jr., <a href="https://www.prnewswire.com/news-releases/parallel-and-ceres-acquisition-corp-announce-business-combination-to-create-a-publicly-traded-us-cannabis-well-being-company-301232236.html">went public on Tuesday via a combination with Ceres Acquisition Corp., a cannabis SPAC</a>. The transaction values the combined company at $1.84 billion. <a href="https://www.businessinsider.com/investors-poured-3-billion-into-cannabis-spacs-deadlines-loom-2020-12">Read our story about the hot cannabis SPAC market</a>. </li><li>Verano Holdings Corp. announced that it <a href="https://www.newcannabisventures.com/verano-holdings-raises-c100-million-at-c28-50-in-private-placement/">raised C$100 million</a> in a private placement. The company also <a href="https://www.globenewswire.com/news-release/2021/02/24/2181428/0/en/Verano-Holdings-Enters-into-Agreement-to-Expand-Arizona-Footprint.html">announced</a> this week an acquisition that would expand the company's footprint in Arizona to four dispensaries. </li><li>Green Thumb Industries raised $56 million through a sale of subordinate voting shares. </li><li>Cannabis packaging company KushCo <a href="https://ir.kushco.com/news-events/press-releases/detail/273/kushco-holdings-inc-prices-40-0-million-registered">raised $40 million in a direct stock offering</a>.</li><li>The Rainbow Real Estate Group raised $47 million to target real estate in areas where cannabis is legal for recreational and medical use. The round included $10 million from CrowdStreet, a crowdsourced investing platform.</li><li>GrowGeneration continues its acquisition tear, this week <a href="https://ir.growgeneration.com/news-events/press-releases/detail/117/growgeneration-acquires-san-diegos-leading-hydroponics">scooping up a chain of four hydroponics centers</a> in the San Diego area for $10 million.</li><li>The Scotts Miracle-Gro Foundation <a href="https://investor.scotts.com/news-releases/news-release-details/hawthorne-gardening-company-announces-hawthorne-social-justice">announced on Monday</a> it launched a new $2.5 million fund to "spark social change and help address the racial injustice and systemic inequality related to the enforcement of existing cannabis laws in the United States," with Hawthorne Gardening Company.</li><li>Terra Vera, an ag-tech company focused on the cannabis industry, <a href="https://www.businesswire.com/news/home/20210225005214/en/Terra-Vera-Raises-2-Million-in-Seed-Funding-Round">closed a $2 million seed funding round</a> led by Will Raap, the founder of Gardener's Supply Company. </li></ul><h2>Policy moves</h2><ul><li>New Jersey officially legalized cannabis on Monday after Governor Phil Murphy signed legislation that he and lawmakers had been negotiating for weeks. <a href="https://www.businessinsider.com/list-new-jersey-cannabis-power-players-legal-marijuana-2020-11">Read our list of the top power players of New Jersey cannabis</a>.</li><li>State lawmakers in Maryland this week proposed a plan to legalize and tax the sale of cannabis in the state, <a href="https://www.baltimoresun.com/politics/bs-md-ci-marijuana-legalization-maryland-20210224-lfhanznaojcv5k5lr3srbow72m-story.html">The Baltimore Sun reports</a>.</li><li>Morocco is legalizing cannabis production for medical use, <a href="https://www.reuters.com/article/us-morocco-cannabis/morocco-set-to-legalise-cannabis-production-for-medical-use-idUSKBN2AP24U">Reuter reports</a>. </li><li>President Biden's attorney general nomination Merrick Garland said federal law enforcement officials <a href="https://www.marijuanamoment.net/marijuana-enforcement-is-a-perfect-example-of-racial-discrimination-biden-ag-pick-garland-says/">should not go after</a> those who are complying with laws in states that have legalized cannabis.</li></ul><h2>Science and research</h2><ul><li>A <a href="https://www.nber.org/papers/w28471">new report from the National Bureau of Economic Research</a> found that legalized <keyword id="40905" type="PERSON" weightage="60" keywordseo="Marijuana">marijuana</keyword> is associated with a decline in worker's compensation claims.</li><li>A <a href="https://www.globenewswire.com/news-release/2021/02/24/2181557/0/en/U-S-Legal-Cannabis-Water-Use-to-Almost-Double-by-2025.html">new report from the Resource Innovation Institute and Berkeley Cannabis Research Center in conjunction with New Frontier Data</a> found that illegal cannabis crops accounted for 83% of the overall industry's water use in 2020. The report's authors expect that to decline to 69% by 2025, but that the illicit market will be the primary driver of the industry's water use.</li></ul><h2>Earnings roundup</h2><ul><li>The Valens Company <a href="https://thevalenscompany.com/press-releases/the-valens-company-reports-financial-results-for-the-fourth-quarter-and-fiscal-year-ended-november-30-2020/">released its fiscal Q4 earnings</a> on Wednesday, reporting adjusted EBITDA of C$4.3 million for Q4.</li><li>Innovative Industrial Properties <a href="http://investors.innovativeindustrialproperties.com/press-releases/2021/02-24-2021-211642895">released its Q4 and full year 2020 results</a> on Wednesday, reporting $37.1 million in revenue for the quarter, and $21 million in net income.</li><li>Cronos released its <a href="https://ir.thecronosgroup.com/news-releases/news-release-details/cronos-group-reports-2020-fourth-quarter-and-full-year-results">2020 Q4 and full year results</a> on Friday, reporting an adjusted EBITDA loss of $53.1 million in Q4 and losses of $147.3 million for the year.</li><li>Next week EnWave, Indus, High Tide, and 48North will report earnings.</li></ul><h2>Chart of the week</h2>Cannabis software and media companies raised $518.8 million in 2020, according to Viridian Capital Advisors, more than double what they raised in 2019. Read <a href="https://www.businessinsider.com/investors-poured-57-million-into-cannabis-tech-startups-2020-9">our story about the cannabis tech boom</a> last year.<div type="image" title="Capital raises by cannabis software and media companies" height="652" width="1240" msid="81236574" hostid="261"></div><h2>What we're reading</h2><a href="https://www.forbes.com/sites/willyakowicz/2021/02/10/billionaire-beau-wrigley-says-his-cannabis-company-will-be-bigger-than-the-family-candy-business/?sh=43e8bd43451c">Billionaire Beau Wrigley Says His Cannabis Company Will Be Bigger Than The Family Candy Business</a> (Forbes)<a href="https://www.gothamgazette.com/opinion/10185-legalizing-marijuana-new-york-the-right-way">Opinion: Legalizing Marijuana The Right Way</a> (Gotham Gazette)<a href="https://www.bloomberg.com/news/articles/2021-02-21/teen-use-mental-health-spur-talk-of-pot-curbs-cannabis-weekly">Teen Use, Mental Health Spur Talk of Pot Curbs</a> (Bloomberg)<a href="https://www.foxbusiness.com/markets/powerful-house-dem-bought-cannabis-stocks-after-pushing-decriminalization">Powerful House Dem bought cannabis stocks after pushing decriminalization</a> (Fox Business)

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