Cannabis News Today – June 13th, 2024
Welcome to “Cannabis News Today,” your daily roundup of the most significant happenings in the Cannabis Industry.
Tilray Brands Promotes Cannabis Lifestyle with New Summer Campaign
Tilray Brands (NASDAQ: TLRY, TSX: TLRY) has launched a Summer Shareability Campaign under its Good Supply Cannabis brand, promoting Multi-Pack Pre-Rolls to highlight the growing trend of cannabis lifestyle and adult-use. The campaign aims to enhance the social aspects of cannabis consumption, aligning with summer gatherings and activities. This strategic move is expected to boost the visibility and popularity of Good Supply Cannabis products. Read all about it on the TDR Website!
Massachusetts Marijuana Company Fined $200K in Mold Scandal
A major marijuana multi-state operator in Massachusetts has been fined $200,000 following a mold scandal. The company failed to maintain proper sanitary conditions, leading to consumer health risks. Read all about it on the TDR Website!
Cannabis Sales in New York Reach $200 Million Milestone
New York’s cannabis market has reached a significant milestone with $200 million in sales in June, reflecting rapid market growth and acceptance. Projections estimate sales could reach up to $1.2 billion next year and potentially $2.7 billion by 2026. Despite this progress, New York still trails behind New Jersey, which saw over $201 million in sales in the first quarter of 2024. The state is combating illegal cannabis activities and promoting social equity through initiatives like the $200 million Social Equity Cannabis Investment Fund. Read all about it on the TDR Website!
Texas Judge Upholds Austin’s Marijuana Decriminalization Law
In a victory for cannabis reform, a Texas judge has upheld Austin’s marijuana decriminalization law. The decision comes despite challenges from the GOP Attorney General, marking a win for local autonomy. Read all about it on the TDR Website!
Planet 13 Announces Annual General Meeting Results
Planet 13 (CSE: PLTH; OTCQX: PLNH), a cannabis company, has released the results of its annual general meeting. Shareholders voted on key issues, reinforcing the company’s strategic direction and growth plans.
Colorado Suffers Worst April Cannabis Sales Since 2016
Colorado’s cannabis industry faced a significant downturn, recording its worst April sales since 2016. The decline raises concerns about market saturation and economic factors affecting consumer spending; this was reported on Marijuana Moment.
Thailand Reclassifies Cannabis as a Narcotic
Thailand has announced new regulations to reclassify cannabis as a narcotic. This change signals a significant shift in the country’s cannabis policy, impacting both local use and international perceptions.
SEC Fines Short Seller Over Secret Payments in Cannabis Stock Reports
The SEC fined a short seller for making secret payments to a publisher of bearish reports on cannabis stocks. The short seller’s covert payments manipulated market perception by publishing negative reports without disclosing the financial arrangement, violating transparency and fair market practice regulations.
Blum Wins Eviction Lawsuit Against People’s California
Blum has won an eviction lawsuit against People’s California over unpaid rent. The court’s decision highlights ongoing financial challenges within the cannabis sector.
Massachusetts Delays Action on Intoxicating Hemp Restrictions
Massachusetts is unlikely to act on intoxicating hemp restrictions until 2025. This delay means current hemp-derived products will remain available in the market for the foreseeable future.
Read more cannabis news on the TDR Website!
