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Is Colorado's Cannabis Market Back On Track? A 5% Sales Boost Says Yes Image Cannabis News October 15, 2024 On a quarter-to-date (QTD) basis, sales reached $245 million for July and August, up 5%. According to a recent report from Beacon Securities, cannabis sales in Colorado and Connecticut are showing mixed results, reflecting both growth... Continue Reading →
Asked in a new interview whether the Biden administration would consider expunging federal criminal convictions related to cannabis, White House Press Secretary Karine Jean-Pierre incorrectly said the president had already taken that action. She also mentioned the government’s planned move of marijuana to Schedule III of the Controlled Substances Act and appeared to imply that... Continue Reading →
SCOTUS CBD drug test case; PA voters back legalization; Group backed by Musk donates to FL anti-marijuana campaign; Cannabis & seniors’ mental health Subscribe to receive Marijuana Moment’s newsletter in your inbox every weekday morning. It’s the best way to make sure you know which cannabis stories are shaping the day. Your support makes Marijuana Moment... Continue Reading →
4.5% – Decline in 2024 EBITDA estimates for publicly traded cannabis companies With the rescheduling of cannabis still on the horizon, analysts with Viridian Capital Advisors expected EBITDA forecasts to rise as 2024 unfolded. But according to new analysis of 16 publicly traded cannabis companies, that expectation is far from reality. In aggregate, the group... Continue Reading →
As more states usher in recreational marijuana, they face a thorny challenge: how to tax it effectively. That’s especially true when it comes to prepping for eventual federal legalization, according to a new report from Tax Foundation. The study shows that 23 states now have taxes on recreational marijuana, with methods ranging from weight-based levies... Continue Reading →
A political committee opposing a Florida marijuana legalization ballot initiative has received a half-million-dollar contribution from an organization that Elon Musk reportedly used to quietly support Gov. Ron DeSantis (R) before he dropped out of the 2024 presidential race. At the same time, the pro-legalization campaign has officially exceeded $100 million in total contributions. The... Continue Reading →
The Daily Hit is a recap of the top financial news stories for Monday, October 14, 2024. On the Site Judge denies restraining order for California hemp ban Several hemp companies challenged emergency rules that ban hemp products with any detectable THC. Read more here. Flora Growth to distribute Storz & Bickel medical vaporizers in... Continue Reading →
Flora Growth Corp. (NASDAQ: FLGC) entered into a distribution agreement with Canopy Growth Corp. (TSX: WEED) (Nasdaq: CGC) to bring medical cannabis vaporizers to the Australian market, the company announced Monday. The agreement allows Flora’s subsidiary, Australian Vaporizers, to distribute Canopy’s Storz & Bickel medical vaporizers throughout Australia. Storz & Bickel makes high-end vapes, including... Continue Reading →
“He’s advancing a position in this case that has never been adopted by a single court in Nebraska, and as far as we can tell, has never been adopted by a single court in the entire country.” By Zach Wendling, Nebraska Examiner A Lancaster County District Court judge said Friday that the ongoing legal challenges... Continue Reading →
Connecticut’s cannabis market experienced a 12% decline in sales during September, according to state data released last week. Total cannabis sales fell to $23.4 million in September from $25.7 million in August, the Department of Health and Human Services reported. Both recreational and medical cannabis sectors slid during the month. Recreational sales dipped 7.6% to... Continue Reading →
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