Welcome to “Cannabis News Today,” a summary of the cannabis industry’s stock and regulatory updates.
Washington D.C. Cannabis Regulation Update with Eric Berlin
Eric Berlin, top cannabis lawyer at Dentons, discussed recent developments in D.C. cannabis regulation, highlighting the House Appropriations Committee’s actions and the need for industry support of key legislators like David Joyce. Berlin emphasized the importance of legal stability for business operations and the potential impact of upcoming rescheduling decisions. Read all about it on the TDR Website!
How US Cannabis MSOs Rank for Inventory Turnover
Days Inventory Outstanding (DIO) is a key metric for assessing inventory management efficiency among US Cannabis MSOs. DIO measures the average days it takes to sell the entire inventory, with a lower DIO indicating better operational efficiency and cash flow management. This metric helps investors evaluate company performance and predict potential issues like overstocking, which plagued Canadian cannabis companies. Read all about it on the TDR Website!
C21 Investments Provides MCTO Status Update
C21 Investments (CSE: CXXI, OTCQX: CXXIF) has issued an update on its Management Cease Trade Order (MCTO) status. The company is actively working to meet its compliance requirements and aims to resolve the issues promptly.
New York Issues Recall of THC-Infused Food Products
New York State has announced a recall of certain THC-infused food products made under the brand “Sky High Eat By Sky High”. The recall was initiated due to health and safety concerns after discovering potential contamination.
Hemp Executives Pledge Millions to Florida Republican Party
Newly revealed texts show that top hemp industry executives have pledged millions of dollars in donations to the Republican Party of Florida. This decision aims to influence state policies in favor of the hemp and cannabis sectors.
Illinois Lottery Winners Retain Licenses
According to Crains Chicago, winners of Illinois’ cannabis license lottery have managed to retain their licenses amid regulatory scrutiny. The decision ensures that the state’s cannabis market remains competitive and diverse.
Missouri Transfers Funds to Cannabis Program Beneficiaries
Missouri has successfully transferred funds to the beneficiaries of its adult-use cannabis program. This financial decision supports the ongoing development and sustainability of the state’s cannabis initiatives.
New York Shuts Down 535 Illegal Dispensaries, Seizes $17.5M in Cannabis
Unlicensed dispensaries have littered New York neighborhoods, blatantly circumventing our laws and selling potentially dangerous products,” thundered Gov. Hochul in April as the new law passed. In just over two months, the city has padlocked 535 illegal shops, seized $17.5 million in cannabis products, and issued over $43 million in civil penalties according to the NY Post.
New Hampshire Governor Expands Medical Marijuana Qualifications
The New Hampshire Governor has signed a law adding anxiety as a qualifying condition for medical marijuana. However, he vetoed proposed adjustments to commercial cultivation regulations, maintaining the current standards.
Read more cannabis news on the TDR Website!