Cannabis News Today – July 11th, 2024
Welcome to “Cannabis News Today,” a summary of the cannabis industry’s stock and regulatory updates.
Newly Cash Flow Positive US Cannabis MSOs Trade at Multi-Year Low Stock Prices
Despite making remarkable progress in cash flow, newly cash flow-positive US Cannabis MSOs are trading at multi-year low stock prices. Analysts highlight the importance of Levered Free Cash Flow Margin (LFCFM) as a key metric, showing that many companies are now positive or close to positive, indicating financial stability and potential for growth. Read all about it on the TDR Website!
Legalizing Marijuana Reduces Intimate Partner Violence
A study by Georgetown’s Samantha Gene Baldwin finds that legalizing recreational marijuana leads to 56.6 fewer intimate partner violence incidents per 100,000 people. The study suggests marijuana may reduce IPV by substituting alcohol, which has a stronger link to violence. Read all about it on the TDR Website!
John Sullivan of Cresco Labs Discusses Key Legislative Changes in Cannabis Industry
John Sullivan, EVP of Government Relations at Cresco Labs, emphasized the importance of rescheduling cannabis to Schedule III and passing the SAFE Banking Act. Cresco Labs’ robust lobbying efforts aim to influence policy decisions and secure favorable legislative outcomes for the cannabis industry. Read all about it on the TDR Website!
CT Social Equity Council Director Resigns
Ginne-Rae Clay, the executive director of Connecticut’s Social Equity Council overseeing cannabis industry elements, resigned amid controversy and unsubstantiated allegations. An audit of the council’s operations is ongoing.
Illinois Celebrates $1 Billion in Cannabis Sales
Illinois Governor JB Pritzker announced that the state has reached $1 billion in cannabis retail sales by July 1, 2024. This milestone includes over $850 million in adult-use cannabis sales and nearly $150 million in medical cannabis sales.
Minnesota’s Cannabis Beverages Boom
Minnesota’s legalization of low-dose THC beverages has sparked a new trend in the state. Consumers can now enjoy cannabis-infused drinks, adding a fresh dimension to the legal cannabis market.
Purplefarm and Neatleaf’s AI Technology
Purplefarm Genetics and Neatleaf have partnered to implement AI technology in cannabis cultivation. Their Spyder system aims to enhance yield and efficiency in cannabis production.
Pittsburgh Protects Medical Cannabis Patients
Pittsburgh is considering a bill to shield medical marijuana patients from employer drug testing. This measure aims to protect patients from being unfairly penalized for using medical cannabis.
Nova’s 100th Retail Location
Nova Cannabis Inc (TSE: NOVC) celebrates the opening of its 100th retail location, marking a significant milestone in its expansion. The new store strengthens Nova’s presence in the cannabis retail market.
Good Supply’s New Vape Innovations
Tilray Brands, Inc. (NASDAQ: TLRY; TSX: TLRY), a global lifestyle and consumer packaged goods company, announced that its Good Supply cannabis brand has introduced new signature vape products to elevate the cannabis experience. These innovations aim to offer consumers a more refined and enjoyable vaping option.
Read more cannabis news on the TDR Website!
