The Green Market Report is hosting its first Psychedelic Investing conference on January 24 in New York City, head over to www.greenmarketsummit.com to buy your tickets now. This half-day conference is titled The Economics of Psychedelic Investing and features some of the top emerging companies in this field. Held in the beautiful ballroom of the WeWork space by Bryant Park, investors will learn about this up and coming industry from some of the key players.
Markets were closed on Wednesday for the New Year holiday, but the dispensaries in Illinois were open. Illinois became the 11th state to legalize the sale of adult-use marijuana.
Green Thumb Industries (GTI) had four stores open for sales, while Cresco Labs had five stores open for business. Cresco said that it served 3,145 people on New Year’s Day and sold 9,258 cannabis products with an average ticket price totaling $135.
Harvest Health acquired Mjardin’s Cheyenne property in Nevada in a deal valued at $35 million.
TerrAscend increased its private placement to $30 million from a previously planned $24 million. It will be used to help pay for the Ilera Healthcare acquisition.
1933 Industries Inc. reported first-quarter revenues of $3.9 million, down 26% from its previous quarter, mainly due to the decline in market share for vape and distillate sales in the recreational market in Nevada. The company said that vaping accounts for 25% of cannabis sales in Nevada while the nationwide decline was 15% during the first week of September, at the state level, Nevada saw a drop of 32% in vape sales.
C21 Investments Inc. delivered third-quarter revenue of $10.58 million, a sequential increase of 7.5% over the second quarter and a big jump over last year’s $305,011 for the same time period. The net loss for C21 was $5.1 million for the third quarter.
That’s it for this week. Have a happy new year everyone and let’s look forward to positive things for this year.