
Cannabis News Today – July 22nd, 2024
Welcome to “Cannabis News Today,” a summary of the cannabis industry’s stock and regulatory updates.
Senator Merkley Advocates for Veterans’ Medical Marijuana Access
Senator Jeff Merkley, along with other U.S. senators, is urging the Department of Veterans Affairs (VA) to improve access to medical cannabis for veterans. Rescheduling cannabis to Schedule III is seen as crucial for pain management, especially in addressing the opioid crisis among veterans. Please read all about it on the TDR Website!
Evaluating Cannabis MSOs with LTM EBIT Yield
LTM EBIT Yield is a key valuation metric used to assess the relative value of US MSO cannabis companies by measuring their EBIT (Earnings Before Interest and Taxes) over the last twelve months relative to their market capitalization. This metric helps investors identify potentially undervalued stocks, compare profitability, and assess operational efficiency. Please read all about it on the TDR Website!
Deadline Approaching for Federal Marijuana Rescheduling Comments
The deadline for public comments on the federal marijuana rescheduling proposal is Monday. Stakeholders are encouraged to voice their opinions on this critical policy change that could reshape the cannabis industry.
State Regulators Demand Clarity on Marijuana Rescheduling
The Cannabis Regulators Association (CANNRA) has called on federal officials to clarify the implications of marijuana rescheduling on enforcement, banking, and research. CANNRA emphasized, “Clear guidance is necessary to ensure effective implementation and public safety.”
Rep. Nancy Mace Advocates for Cannabis Descheduling and State Control
Rep. Nancy Mace (R-SC), who has sponsored legalization legislation, was also asked about the prospect of a Trump administration rollback of rescheduling. She didn’t directly answer the question, but said, “I support rescheduling, but I support descheduling.” “Leave it up to the states to decide,” she said, echoing points she made during a separate interview at the RNC convention this week.
SweetWater Brewing and Atlanta United FC Collaborate on New IPA
SweetWater Brewing Company has launched a new Rowdy & Proud Peach IPA in collaboration with Atlanta United FC. The partnership brings together the worlds of craft beer and professional soccer for a unique fan experience.
Ohio’s Recreational Cannabis Market Prepares for Launch
Ohio is gearing up for the launch of its recreational cannabis market, with licenses and certificates being issued to cultivation and dispensary operators. The state’s residents will soon be able to purchase recreational marijuana legally.
Alexandria City Council Discusses Medical Cannabis Ballot Measure
The Alexandria City Council in Kentucky is considering a ballot measure to allow medical cannabis. The measure, if approved, would enable residents to vote on legalizing medical marijuana in their community.
Florida PAC Raises $313K for Recreational Marijuana Legalization
A political action committee in Florida aiming to legalize recreational marijuana has raised $313,000 in a single week. The funds will support efforts to get the legalization initiative on the ballot.
Indoor Marijuana Grow Operation Found in Bakersfield
Authorities in Bakersfield discovered an indoor marijuana grow operation in a residential neighborhood. The operation, found in Southwest Bakersfield, has raised concerns about illegal cannabis cultivation in the area.
Stockton University Offers Cannabis Business Management Degree
Stockton University in New Jersey is set to offer a degree in hemp and cannabis business management. The program aims to prepare students for careers in the rapidly growing cannabis industry.
Melissa Etheridge’s Cannabis Business Faces Legal Dispute
Singer Melissa Etheridge is embroiled in a legal dispute over her failed cannabis business. The ongoing litigation highlights the challenges and risks associated with the cannabis industry.
Driver Pulled Over with 65kg of Cannabis in New Zealand
A driver in New Zealand was pulled over for driving without headlights and was found with 65 kilograms of cannabis. The incident has led to an investigation into large-scale drug trafficking.
Dark Horse Cannabis Opens Headquarters in Arkansas
Dark Horse Cannabis has announced the opening of its new headquarters in Northwest Arkansas. The facility will serve as the central hub for the company’s operations in the region.
Read more cannabis news on the TDR Website!