Videos Archives - Page 2 of 36 - Green Market Report

Video StaffDecember 13, 2022

3min10870

Bronx Community Foundation, Partners, and CAURD Applicants launched The Bronx Dispensary Showroom: A Cannabis Retail Pop-Up Experience recently. It featured a built-out model of a New York State-compliant dispensary, demonstrating the entire cannabis retail experience. Educational and workforce programming focused on opportunities to build generational wealth in under-resourced communities harmed by cannabis prohibition.

The Showroom is The Bronx Community Foundation’s latest initiative to provide resources and education about cannabis to CAURD license applicants and other community members. In July 2022, The Foundation partnered with The Bronx Defenders to launch The Bronx Cannabis Hub, which has provided support—including application and legal assistance—to CAURD license applicants. The Hub has worked with hundreds of New Yorkers, helping 35 apply for CAURD licenses.

The CAURD licenses process stems from New York State’s Marihuana Regulation and Taxation Act (MRTA) which passed in 2021 with social equity provisions that include reserving the State’s first 150 retail cannabis licenses for New Yorkers who have been directly impacted by cannabis prohibition.

The MRTA’s social equity provisions were created in recognition of the harms that cannabis prohibition caused, particularly in communities of color. In New York City, in the decades leading up to legalization, well over 90% of the people arrested for marijuana offenses were people of color, despite usage rates being equal across races. In 2011 alone, over 50,000 people — overwhelmingly and disproportionately young men of color — were arrested for low-level marihuana possession in New York City.

Disproportionate policing led to these communities suffering harm, including arrests, convictions, jail time, loss of housing, inability to get student loans, family separation (ACS taking children because of marijuana use), and deportation.

The impact was most harmful in communities like The Bronx. A 2018 Report by NYC Comptroller Scott Stringer examined the neighborhoods with the highest rates of marijuana-related arrests in NYC between 2010 and 2017. Nearly half of all neighborhoods in the Bronx were among the top ten by arrest rate.

In late November 2022, New York State’s cannabis regulators announced the first 36 license recipients (individual businesses and nonprofits) from a pool of 903 applicants. The first of these retail locations is expected to be in operation by the end of the year.


Video StaffDecember 9, 2022

3min11950

Basketball star Brittney Griner was released from a Russian prison in a prisoner swap with the Russian arms dealer Viktor Bout, who is known as the “Merchant of death.” President Biden said she was safe and on a plane headed home. 

This week two companies were accused of inflating THC levels for premium-priced products. Both Stiiizy and VO Leasing, which makes Presidential cannabis products were the subjects of lawsuits filed in California. Both sell products that claim to have high THC levels, but when tested, were beyond the margin of error established by the state. Some by over 30%. 

Weedmaps (NASDAQ: MAPS) said it was laying off 25% of its staff or 175 people. The move is intended to cut expenses but will cost over $10 million in severance costs. This comes shortly after longtime CEO Chris Beals departed the company and amid continuing losses at Weedmaps. 

The cannabis banking bill, the SAFE Act, did not make it into the defense bill despite efforts by Sen. Chuck Schumer. Now, attention is turning to possible inclusion in the appropriations bill, but even that might not happen. More disappointing for the cannabis industry: comments by minority leader Sen. Mitch Mcconnell tagging the banking legislation as a “pet priority.” The legislation isn’t completely dead and could make it into the omnibus bill or even as a stand-alone bill, but time is running out. 

In state news, Massachusetts said it would allow some pesticides by cannabis cultivators and Illinois said it would be open to cannabis delivery companies. Rhode Island fined one of its new cannabis license holders for winning a cannabis competition in Massachusetts. Mammoth cannabis was fined $10,000 and claimed to have been at the conference but that someone else must’ve entered their product. 

And finally, a lawsuit was filed against the Facebook parent company Meta in connection with the cannabis Ponzi scheme Juicy Fields. Marketing for the investors of the scheme was done through social media, which is why they are going after Meta. The case includes 800 people from 50 different countries. Two billion euros are missing from investor accounts.


Video StaffDecember 8, 2022

1min8290

Former NFL player Ricky Williams is expanding the brand he co-founded Highsman into more states. His company has partnered with Tilt Holdings (OTC: TLLTF) to quickly move into more states on the East Coast. Founded in 2021, his product and merchandise have been a big hit. Highsman also cultivates strains with names that resonate with local sports fans. Green Market Report had a chance to speak with Ricky in Las Vegas during the recent MJ Biz conference.


Video StaffNovember 21, 2022

1min9320

Green Market Report attended the recent MJ Biz Conference in Las Vegas last week. Here’s a little bit of the event in case you weren’t able to attend. There were over 1,400 exhibitors spread out over two floors. Attendance numbers weren’t published, but it appeared to be a much larger crowd than last year. Despite signs outside the Convention Hall saying smoking cannabis was prohibited, numerous people were lighting up and not getting shut down.

This year’s conference was the first to be hosted under the new owners Emerald Co. This year’s conference featured several side forums focusing on psychedelics and finance to name a few. The number of parties each night seemed to be overwhelming as most attendees had to carefully choose which ones they could attend.


Video StaffNovember 11, 2022

4min14701

Green Market Report has a new morning newsletter called the Rise. Head over to the website under the subscriptions tab and sign up now. 

This week the country voted on several cannabis issues. Three states rejected the ballot measures before them and they were Arkansas, South Dakota, and North Dakota

However, Maryland (65.5%) and Missouri (53.1%) both approved adult-use cannabis. There were alot of nervous people in New York when it was feared that anti-cannabis Republican Lee Zeldin could win, but cannabis-friendly Kathy Hochul went on to win and become the first elected female governor in the state.

Earnings season is upon us and most companies have struggled through massive headwinds to deliver. 

WM Technology Inc. or Weedmaps (Nasdaq: MAPS) posted a $10.5 million loss in the third quarter this year – a drastic downturn from a year ago. That news was accompanied by the departure of longtime CEO Chris Beals. Revenues for the quarter held relatively steady at $50.5 million compared with $50.9 million for the previous-year period. The company said it expects a year-over-year decline in the low double-digit percentage area for fourth quarter revenue.

Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) posted mixed results Monday as the company met revenue expectations, despite seeing lower operational margins and rising net losses. Curaleaf eked out past expectations and delivered $340 million during the period. Curaleaf also reported a second-quarter net loss of $54.7 million compared with a net loss of $28.2 million in the second quarter.

Florida-based multistate operator Trulieve (CSE: TRUL) (OTCQX: TCNNF) announced a $115 million loss for the third quarter this year. Revenue increased to $301 million from last year’s $224 million but fell 6% from the second quarter of this year.

Ayr Wellness’s second-quarter revenue rose 24% to $119 million over last year’s revenue of $96 million and an increase of 8.6% sequentially. Despite expected price compression Ayr believes it will see 10% growth in the next quarter.

High Times is buying cannabis company Moxie Holdings in an all stock deal. High Times stock though doesn’t sell and the company is currently in default on its debt. Likewise, Moxie has attempted to go public twice and both times it wasn’t successful. Moxie is also involved in a lawsuit over not paying its debt as well. 

That’s it for this week. We’ll see you next week in Vegas at the MJ Biz conference.


Video StaffNovember 4, 2022

4min10600

This week the New York group tasked with raising funds for the social equity applicants saw their contract canceled. The group apparently had investment interests in companies that were applying for licenses. It’s yet another setback for the New York program that has struggled to keep the ambitious justice program moving forward.

Also in New York this week, regulators rolled back the stringent requirements for cannabis testing after cultivators said they would likely not pass with the previous measures. 

Earnings season is kicking off with Green Thumb Industries (OTC: GTBIF) posting positive results that beat analysts’ expectations, with record revenue showing the demand for cannabis even as profits shrink industrywide. Green Thumb reported third-quarter revenue of $261.2 million, up 2.7% sequentially and up 11.8% from the prior-year period. 

The Scotts Miracle-Gro Company (NYSE: SMG) announced that sales fell by 33% in the fourth quarter to $493.6 million reflecting decreases in both major business segments.  The hydroponic division of Hawthorne saw its sales decline by 49% to $168.5 million, compared with $329.1 million during the same period last year.

Innovative Industrial Properties Inc. (NYSE: IIPR) pulled in revenue of almost $71 million in the third quarter of 2022, with a net income of $37.3 million, but its stock price continues to suffer along with much of the cannabis industry. Revenue was up 32% from the same period in 2021, IIPR reported, though it did run into some issues with rent collection by a pair of tenants in California.

Hexo reported fourth-quarter net revenue of $42.5 million, an increase of 10% compared to $38.8 million in the 2021 fourth quarter. net revenue for the full year was $191.1 million,   The net loss for the full year was an eye-popping $1 billion versus last year’s net loss of $115 million.

And finally this week HighTimes Holding Corp. is suing the people it bought the High Times Magazine from, saying the former owners lied during negotiations, which caused damages in excess of $10 million. This complaint was filed on Oct. 27, a day after HighTimes Holding Corp.’s deadline for signing an investment agreement that would’ve bailed the company out of its financial predicament. Part of the HighTimes financial pressure was due to the money it owed on the original purchase of the magazine. For now, it’s unknown whether this case will work as a delay tactic for the money owed to its lender. High Times has until November 15 to make payments to satisfy its debt holders. 


Video StaffOctober 28, 2022

4min16610

Green Market Report is launching a new morning newsletter called the Morning Rise. Subscribe to it now if you haven’t already. It will be original content first thing in the morning and not just an aggregation of headlines. So, get ready to wake and partake of the Morning Rise.

This week Canopy Growth (NASDAQ: CGC) surprised the markets with news that it was creating a Canopy Holding company for its U.S. properties. The Canadian company has options to acquire some American cannabis companies like Acreage Holdings and Wana Brands, but those deals weren’t supposed to happen until cannabis was federally legalized. Now it seems Canopy has decided not to wait until that happens. The question though is whether the Nasdaq will allow the company to continue to trade on its exchange. The exchange has been firmly against trading plant-touching cannabis companies and so far it looks as if they aren’t on board with Canopy’s plans. 

The SEC has been busy this week with bad actors in the cannabis industry.  Cronos Group settled with the SEC for some accounting errors. The company agreed to pay over $1.3 million and the company’s accountant was also fined and barred from serving in that capacity for the next 3 years. NewAge Beverage also found itself in hot water with the SEC for continually making false statements about the company The CEO was ousted and the stock was delisted from the Nasdaq. The SEC also targeted CannAwake for not filing its financial statements.

Turning Point Brands, Inc.  (NYSE: TPB) announced its third-quarter sales fell by 1.9% to $107.8 million. However, it beat analyst estimates. The company is seeing good growth in ZigZag sales products, but vape products keep sliding.  

Verano is being sued by Goodness Growth over the company’s decision to walk away from the planned acquisition. In addition to that, Verano has refinanced its debt and pushed out its maturity dates. The company is also going to lean harder on debt secured by its real estate holdings. 

And finally, the state of Florida threw cold water on the plan to combine medical dispensaries with Circle K convenience stores. GTI has recently announced that it had arranged to work with the store chain that is owned by Alimentation Coutard, which already owns 20% of Fire & Flower. GTI said the dispensaries are next door to Circle K, not inside, but regulators don’t seem amused with the thought of gas station grass.


Video StaffOctober 7, 2022

3min14772

Editors note: The Weekly Stash was taped and edited prior to the news yesterday afternoon from President Biden. 

People in Florida stocked up on cannabis ahead of Hurricane Ian and that was probably the smart move. Many of the biggest cannabis companies in the state had to close at least some of their dispensaries in hard-hit areas. Trulieve (OTC: TCNNF) and Verano both had 3 stores that remained closed. Trulieve said the storm had zero impact on growth or processing despite the closures.

Earlier this week, the SEC filed charges against 8 for a stock promotion scheme that included three cannabis stocks. Elegance Brands, Emerald Health Pharmaceutical and High Times were the stocks that Jonathan Mikula promoted in his newsletter Palm Beach Venture. Emerald and Elegance both had to pay fines and some of their people are now barred from serving as an officer in the company. High Times paid for the promotion but wasn’t charged.

It’s the beginning of Crotober when many outdoor cultivation sites begin harvesting their cannabis. This year though with prices continuing to plunge, harvest time might not be so celebratory. Cannabis Benchmarks said it expects wholesale prices to keep falling.

Speaking of falling, sales fell in the state of Nevada for the fiscal year 2022. Despite tourism rising in the key market of Las Vegas, sales fell by 4% versus last year. That’s troubling because the state was just coming out of covid lockdowns in 2021. Sales fell below the billion-dollar level to $965 million. 

Another state is trying to address falling prices by asking legislators to just say no to new licenses. Michigan is drafting new legislation to place a moratorium on licenses in the state. However, not everyone wants that and some places like Detroit haven’t even opened any stores yet.

And finally, One World Products (OTCQB: OWPC), a fully-licensed hemp and cannabis producer in Colombia — owned by former Detroit Pistons point guard Isiah Thomas — is one step closer to commercialization. The company received its second round of funds from its recent $10 million financing deal to help grow the industrial hemp operations and grow industrial sales. 


Video StaffSeptember 30, 2022

3min14190

We’ve gone by the name Marijuana Money for the last 5 years, but we’re changing the name to match our newsletter that goes out weekly – the Weekly Stash. It’s free – subscribe now.

This week cannabis giant Canopy Growth (Nasdaq: CGC) said it was getting out of the retail store business. The company is selling off its Tokyo Smoke and Tweed stores. Canopy said it was focused on becoming profitable and that meant it would pivot to just becoming a consumer packaged goods company. 

Green Market Report also posted a story this week looking at the cannabis company strategy of deferring tax payments. Many companies are seeing their tax bills grow every year while hoping that some form of legislation will get passed that could ease their tax burdens. 

The Northern Lights SPAC was completed this week. Safe Harbor Financial is finally trading on the NASDAQ even though the company got a little less money than planned. However, investors are making sure Safe Harbor has enough money in the pipeline to keep it secure for several months. 

Ascend Wellness announced that its CEO Adner Kurtin would step down after news surfaced of a domestic dispute. The company said it would have two interim co-CEO’s as it begins a search for a permanent replacement. 

London-based British American Tobacco (BAT) acquired a minority stake in German marijuana company Sanity Group, and led the company to what it claims is the largest capital raise in European cannabis history. The BAT Group led the $37.6 million Series B capital raise for Sanity Group, which the release claimed was “Europe’s largest cannabis investment round to date.” The money will be used by Sanity Group to further expand its existing footprint and to prepare for further expansion once cannabis is fully legalized in Germany.

And finally, Vermont looks like it may be on track to begin adult-use sales on October 1. The state looked like it might get off to a slow start as some licensees said they didn’t have enough time to have a harvest ready by that date. But Slang with its Ceres Collaborative group announced its medical operation in Burlington would open on the planned start date as an adult use dispensary.


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The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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By continuing I agree to your Privacy Policy and consent to receive relevant newsletters and other email communications on events, editorial features, and special partner offers from Green Market Report. I can unsubscribe or change my email preferences at any time.