Cannabis News Today – July 9th, 2024

Welcome to “Cannabis News Today,” a summary of the cannabis industry’s stock and regulatory updates.

Germany Approves First Marijuana Social Club 

Germany approved its first marijuana social club, Social Club Ganderkesee, allowing it to cultivate and distribute cannabis. This move reflects Germany’s progress in cannabis legalization, aiming to provide safe, regulated access and combat the black market. Read all about it on the TDR Website!

Revenue Growth in US Cannabis MSOs 

Revenue growth rates for US Cannabis MSOs have slowed over the past year, averaging 6.6%, down from 11.6% the previous year. Analysts attribute this to market maturation, regulatory delays, and fluctuating product prices. Read all about it on the TDR Website!

Trump to Announce JD Vance as VP Pick, Supports State-Controlled Cannabis Regulation

Rumors suggest Trump will choose JD Vance as his Vice President, with an announcement expected by next Monday. JD Vance believes cannabis regulation should be a state matter, and no one should be imprisoned for smoking a joint. In an interview with TDR, Shadd Dales, in April, he shared his views on the SAFER Banking Act, stating, “If the legislation is better, I’d be more likely to support it.” Read all about it on the TDR Website!

Florida Cannabis Legalization Support 

Polling in Florida shows 64% support for adult-use cannabis legalization, surpassing the required 60% threshold. Despite strong backing from key industry players like Trulieve and Verano, potential opposition from Governor DeSantis could impact the market and stock performance. Read all about it on the TDR Website!

Federal Report Enhances Cannabis Testing 

A federal science agency released a report to improve testing accuracy for cannabinoids, toxic elements, and moisture in marijuana and hemp. This initiative, part of the Cannabis Laboratory Quality Assurance Program, aims to enhance precision in cannabis product testing.

Michigan Lawmakers Seek Simplified Rules 

Michigan legislators are working to streamline regulations for recreational and medical marijuana. Their goal is to create a more cohesive and efficient framework, improving accessibility for consumers and clarity for businesses.

Ohio’s Dispensary Expansion 

Over 100 dispensaries in Ohio are awaiting final approval to begin recreational marijuana sales. This expansion aims to meet the growing demand following the recent legalization of recreational cannabis in the state.

AFC Gamma Project Update 

AFC Gamma (Nasdaq: AFCG) has reaffirmed the completion date for its latest project, signaling a significant step forward in its cannabis investment initiatives. The project is expected to enhance the company’s footprint in the cannabis financing sector.

Vireo Growth Inc. Announces New Ticker Symbols

Vireo Growth Inc. has announced that its subordinate voting shares will now trade under the ticker symbol “VREO” on the Canadian Securities Exchange and “VREOF” on the OTCQX Market, effective today, July 8, 2024.

Read more cannabis news on the TDR Website!

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