4/20 Archives - Green Market Report

StaffApril 25, 2023
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4min00

The Daily Hit is a recap of the top financial news stories for April 25, 2023.

On the Site

Cookies Lawsuit: Company Uses Threats, Violence, Kickbacks to Do Business

The leaders of global cannabis brand Cookies have been using threats, violence and financial kickbacks to enrich themselves at the expense of company shareholders, according to a lawsuit filed by two of the company’s investors. Read more here.

Missouri Cannabis Jobs Boom, Market Saturation Concerns Loom

Legalization of recreational cannabis in Missouri led to a surge in job growth within the industry, but the trend could be slowing as labor needs are met. The number of active licenses to work in the sector catapulted from 9,800 in October to more than 14,000 in March, after voters approved recreational marijuana use through a constitutional amendment last November. Read more here.

Schwazze to Buy Everest Apothecary in New Mexico for $38 Million

Denver-based Medicine Man Technologies Inc., which operates as Schwazze (OTCQX: SHWZ) (NEO: SHWZ), has signed definitive documents to acquire a batch of cannabis assets in New Mexico. The acquisition will allow Schwazze to manage Everest Apothecary, a non-profit corporation operating in the state. Read more here.

Data Confirms 4/20 is THE High Holiday

Now that 4/20 is officially in the rearview mirror, the bean counters say that this year’s holiday did not disappoint. Consumers clearly don’t care whether cannabis companies are making any money or not, they were here to party. Read more here.

Unrivaled Brands Posts Consistent California Revenue in Q1 2023

California-based Unrivaled Brands Inc. (OTCQB: UNRV) reported preliminary financial results for the first quarter 2023, showing revenue of $8.7 million and a gross margin of 48%. The bulk of revenue came from Unrivaled’s three retail stores and cultivation facility. Read more here.

In Other News

Peridot Tree

In a lengthy answering brief filed Monday, the city of Sacramento asked the Ninth Circuit to uphold U.S. District Judge Kimberly J. Mueller’s order abstaining from and pausing a constitutional challenge filed by Kenneth Gay, who owns Peridot Tree Inc, which was denied entry into Sacramento’s equity program for failing to meet residency requirements, as Gay lives out of state.  Read more here.

CBD of Denver

CBD of Denver Inc (OTC Pink: CBDD), having begun a restructuring of its operations in fourth quarter of 2022, reported that revenue increased to $113,478 during the quarter from $26, 907 in the previous quarter putting the company back on a growth trajectory that management expects to continue throughout 2023. Read more here.

Minnesota

Minnesota took a step closer to legalizing recreational marijuana for adults after the Democrat-controlled House passed the bill Tuesday. The House approved the measure on a 71-59 vote after a long debate that spanned from Monday night into Tuesday afternoon. Read more here.


StaffApril 20, 2023
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4min00

The Daily Hit is a recap of the top financial news stories for April 20, 2023.

On the Site

More Cannabis Investments Busted

Unsuspecting investors trusted these cannabis companies which they now accuse of fraud. The desire to be a part of the cannabis industry and promises of quick and hefty returns have caused many investors to lose their money. Read more here.

Police Pilot Roadside Cannabis Test in Missouri

A neuro-diagnostic company, Oculogica, said it has launched a pilot program to trial a new roadside cannabis test that supposedly provides immediate results, with a wider release slated toward the end of the year. Read more here.

Oregon Issues First Licenses For Psilocybin Facilitators

Oregon Health Authority (OHA) released a statement on April 18 noting that the authority had licensed the state’s first three facilitators for providing psilocybin services. Read more here.

GRN Holdings Completes Acquisition of Mendocino Green

GRN Holding Corporation, Inc. (OTC Pink: GRNF) has completed the purchase of Mendocino Green Inc, which includes a cultivation license, nursery license, and distribution license from one of the oldest cannabis license holders in California. Read more here.

Massachusetts Company Flips the Script on 4/20

April 20 may be the biggest sales day of the year for the vast majority of cannabis retailers, but Temescal Wellness is placing its priorities on employee mental health rather than profits for this year’s marijuana holiday. Read more here.

In Other News

Dutchie Outage on 4/20

Technology platform Dutchie, which provides point-of-sale (POS) hardware for cannabis retailers across the United States, reported interruptions and outages on Thursday – the unofficial marijuana holiday 4/20 and one of the biggest sales day of the year in the industry. Read more here.

Illinois

The marijuana industry in Illinois is expanding with more dispensaries set to open, but some workers are asking lawmakers to fix some of the rules. Read more here.

Minnesota

A bill in the Minnesota Legislature to legalize adult-use cannabis appears to be nearing the finish line, with a vote apparently in the state House slated for Monday. Read more here.


StaffApril 19, 2023
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5min00

The Daily Hit is a recap of the top financial news stories for April 19, 2023.

On the Site

Cannabis Retailers Can Expect ‘Massive’ Sales Day on 4/20

The unofficial cannabis holiday of April 20 – better known as 4/20 – is tomorrow, and retailers should be prepared for a “massive” sales day, according to tech firms that have tracked sales in past years. Read more here.

Over 100 Employees at Rise Dispensaries in Chicago Set to Strike on 4/20 Eve

Workers at three Rise dispensaries in the Chicago area were set to go on strike Wednesday at 4:20 p.m. — a day before the popular industry sales event on April 20. According to union spokesman Matthew McQuaid, more than 100 employees between Niles and Joliet, Illinois, will participate in the open-ended strike. Read more here.

Blumenauer Makes Another Attempt to Repeal 280E

Oregon’s long-serving cannabis champion in Congress, Rep. Earl Blumenauer, this week again introduced the Small Business Tax Equity Act to exempt state-legal cannabis companies from the onerous 280E section of the federal tax code, which essentially prevents marijuana businesses from claiming standard business tax deductions and costs the industry untold millions per year. Read more here.

New York State Cannabis Tax Revenue Falls Short of Predictions

Cannabis tax revenues in New York state are both up and down at the same time, according to state data. State marijuana revenues were up for the month of March after being flat for most of the prior 12 months, to $1.8 million in tax collections from about $1 million per month previously. Read more here.

Agrify Warns Investors About Unreliable Financial Statements

Agrify Corp. (Nasdaq: AGFY) issued a press release about raising $1.84 million after it slashed the price of its warrants, but the company didn’t issue a release telling investors that its financial statements were not reliable. While shares popped 73% on Tuesday to 30 cents, they were plunging 30% in early trading on Wednesday to lately sell near 20 cents. Read more here.

In Other News

GS Holistic LLC

A California federal judge has awarded more than $151,000 to GS Holistic LLC in a default judgment against the owner of a Los Angeles smoke shop over claims the shop sold counterfeit versions of GS Holistic’s “Stündenglass” bong products. In a judgment filed Monday, U.S. District Judge R. Gary Klausner ordered Andrea Harris — an owner of Hollywood Zaza Smoke & Vape LLC, which runs Zaza Smoke Shop — to pay $150,000 in statutory damages plus $1,166 in costs to GS Holistic after failing to appear or defend herself in the suit. Read more here.

Curaleaf Holdings

Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) determined that it will make certain adjustments to the revenue figures reported for 2021 and 2022 after a review of certain purchases and sales of products through the company’s wholesale channel. Read more here.

Eastern Band of Cherokee Indians

Following more than an hour of discussion capping off months of debate, the Cherokee Tribal Council voted earlier this month to fully fund its cannabis enterprise’s eight-figure startup funding request. Qualla Enterprise will view the $64 million as a loan rather than an appropriation, eventually paying the tribe back. Read more here.


StaffApril 5, 2023
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4min00

The Daily Hit is a recap of the top financial news stories for April 5, 2023.

On the Site

Ispire Ends IPO Drought for Cannabis Stocks

It’s been a minute since there’s been a cannabis initial public offering, and Ispire seems to have broken the drought as the e-cigarette and cannabis vape hardware company began trading on the Nasdaq Marketplace on April 4 under the symbol ISPR. However, the company didn’t raise nearly as much as it had initially planned when the company filed for the IPO in January. Read more here.

Michigan Dispensary Loses Permit 11 Days After Opening Due to Lighting Dispute

A northern Michigan town revoked a dispensary license for one local location of a small chain of cannabis shops just 11 days after the new store opened for business, over what town officials say is noncompliant outdoor lighting. The store – located in the town of Gaylord, population 4,000 – is owned and run by Exclusive Brands. Read more here.

Detroit Approves First Cannabis Consumption Festival

The city of Detroit approved its first festival allowing the legal consumption of cannabis, a music festival to be held later this month. The 420 Cannabis Music Festival will take place on April 29 at 2000 Brooklyn St. and adjacent areas. The indoor/outdoor event will allow for the consumption of cannabis on site beginning at noon and lasting through the end of the day. Read more here.

Exit of Paychex a Headache for Hundreds of Operators

Human resources titan Paychex (Nasdaq: PAYX) essentially announced its exit from the legal cannabis industry via an email sent last week to its marijuana company clients that used it for payroll and other services, leaving potentially hundreds of operators in the lurch. Read more here.

In Other News

PVSP Pervasip Corp.

PVSP Pervasip Corp. (OTC: PVSP) acquired Slurped, a nano-tincture brand, and established Artizen Nano, which will focus on the development of nano-emulsified products for the cannabis and non-cannabis markets. Read more here.

Nevada

Nevada’s marijuana growers say they are being overtaxed and on the brink of going out of business, thanks to a tax formula that relies on the state’s calculation of the fair market value of a pound of cannabis, rather than its actual wholesale price. Competing proposals to tweak the calculation would each cost the state millions of dollars a year in tax revenue designated in part for education. Read more here.

Washington D.C.

Cannabis advocates will hold a policy forum in the Capitol Visitors Center of the Congressional Auditorium symbolically scheduled for April 20 – the unofficial marijuana holiday. The summit will bring together activists and leaders from government, business, health care, veterans groups, and civil rights organizations to review and analyze the most important cannabis policy challenges and opportunities. Read more here.


Cynthia SalarizadehApril 20, 2021
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19min04

For the 50th anniversary of 4/20, we decided to highlight and honor the original “OG” cannabis journalists. These are the pioneers who covered this plant, the industry overall and its community for decades. 

The evolution of the cannabis industry and its reversal from prohibition is one of the most interesting topics to witness in our lifetimes. Sitting front row, and the ability to chronicle these changes, has been a priceless experience to each one of these individuals.

Writing for everything from High Times to Rolling Stone, as well as book deals, this is a list of a few of the most important writers to ever document the plant. Today we would like to thank Danny, Mary, Steve and Sharon for their hard work in this industry. 

 

About Dan Vinkovetsky (formerly Danny Danko of High Times)

Danny Danko is a Cannabis editor, writer, and photographer who was the Senior Cultivation Editor of High Times Magazine for 18 years. He has personally selected HIGH TIMES’ annual Top 10 Strains of the Year since 2005 and is also the creator and founder of the HIGH TIMES Seed Bank Hall of Fame. He has judged more Cannabis Cups than anyone else on Earth.

Danny is the author of “The Official High Times Field Guide to Marijuana Strains” (2011) and “Cannabis: A Beginner’s Guide to Growing Marijuana” (2018). Danny hosted the podcast HIGH TIMES presents Free Weed from Danny Danko” from 2011-2018. He currently hosts the podcast “Grow Bud Yourself!” and is the editor of Northeast Leaf Magazine since July 2020.

Links:

Podcast: https://shows.acast.com/freeweed

Patreon Page: https://www.patreon.com/dannydanko

Amazon Book Link: https://amzn.to/2HHvVnJ  

Instagram: https://www.instagram.com/dannydankoht  

Twitter: https://twitter.com/DannyDanko

Facebook: https://www.facebook.com/danny.danko

 

Northeast Leaf Magazine

https://neleafmag.com/

@northeastleafmag on Instagram

Facebook https://www.facebook.com/Northeast-Leaf-Magazine-106484277804820

Twitter: https://twitter.com/NELeafMag

 

 

About Mary Jane Gibson 

Actress, writer, and former culture editor at High Times, Mary Jane Gibson is a prominent female voice in one of the largest emerging industries and worldwide cultural shifts in modern times, traveling the world tracking the legalization of medical marijuana, adult-use cannabis, and CBD with integral public figures, brands, and personalities since 2007. She’s the co-host of the top-rated Weed + Grub podcast alongside fellow actor/comedian Mike Glazer. Raised in Newfoundland, Gibson performed in theater and film in Montreal, Dublin, London, Paris, Seattle, and New York City before moving to Los Angeles. Her unique perspective in cannabis and world culture has earned her work with numerous media outlets, including Rolling Stone, Playboy, and PBS, and the title “one of the 15 most powerful women in the weed industry” from Complex Magazine. Complementing her writing, film, production, and performance credits, Gibson’s received the Overall Excellence in Performance Award from FringeNYC, the William and Eva Fox Foundation Fellowship, and two Seattle Fringe Festival PONCHO Artistic Pick awards (2002, 2003). Gibson is a graduate of the British American Dramatic Academy: Midsummer in Oxford and the National Theatre School of Canada. She also performs voiceover work using a range of regional American, Canadian, European and Australian dialects. Gibson has conducted in-depth celebrity interviews with Margaret Cho, Melissa Etheridge, Awkwafina, Charlie Sheen, Jim Belushi, Laganja Estranja, and the Super Troopers. She also created and starred in the piece “Fatal Attraction in 10 Minutes” with Reggie Watts for his show Radio Play at PS122.

https://www.thisismaryjane.com

Mary Jane wrote and edited for High Times for over a decade. She was named one of the “15 most powerful women in the weed industry” by Complex and was featured in Forbes. She now writes for a number of outlets including Rolling Stone and Playboy. Mary Jane covers cannabis culture, entertainment, and cutting-edge trends, and has interviewed stars like Margaret Cho, Melissa Etheridge, the Super Troopers, Awkwafina, and Reggie Watts. She co-hosts the Weed + Grub podcast with comedian Mike Glazer. Vulture called them “true experts in comedy and marijuana.” Mary Jane is also an award-winning actor and playwright. Follow her on IG @thisismaryjane_.

https://www.thisismaryjane.com

 

 

About Steve Bloom

Steve Bloom is a longtime journalist and author with 32 years in the cannabis community. His credits include:

Publisher of CelebStoner.com, one of the leading sources for marijuana and celebrity news on the web since 2007.

Former editor of High Times from 1988-2007, and producer of the Stony and Doobie award shows and the two Hempilation benefit albums for NORML (1995 and 1998) while at High Times.

Former editor-in-Chief of Freedom Leaf magazine and freedomleaf.com from 2014-2019.

Former Editor-in-chief of two Centennial Media titles, Marijuana Goes Mainstream and The Complete Guide to CBD from 2019-2021.

Co-author of Pot Culture: The A-Z Guide to Stoner Language and Life (Abrams Image, 2007) and Reefer Movie Madness: The Ultimate Stoner Film Guide (Abrams Image, 2010) with Shirley Halperin.

Recipient of NORML’s Media & Culture Award in 2004, Cannabis MVP by the Cannabis Business Awards in 2018 and New York NORML Activism award in 2019.

Has appeared as a moderator, panelist and speaker at many marijuana-reform events, including the NORML Conference, the Drug Policy Alliance Conference, International Cannabis Business Conference, Cannabis Media Summit, Seattle Hempfest, Boston Freedom Rally, Cypress Hill SmokeOu, the NYC Cannabis Parade & Rally and more.

Board member and co-organizer of the annual NYC Cannabis Parade & Rally.

Discovered 420 in 1990.

Founder and organizer of the Teapot Party with Willie Nelson since 2009.

Founder and commissioner of the New York Media Softball League since 2007.

Author of Video Invaders (Arco, 1982) and Watch Out for the Little Guys (St. Martins Press, 1989). 

Lives in Bronx, NY.

Contact Info

bloom@celebstoner.com

Facebook, Twitter, Instagram, Linked In

 

 

About Sharon Letts

Sharon began her professional career as a gardener at the age of 24 in Southern California, with many assuming she grew cannabis. In reality, she designed, planted and maintained flower beds for high-end homes in Southern California for 17 years, before becoming a producer for television, then advocating for the plant.

Gardening turned to television when she was asked to host and produce visiting gardening show, In and Out of the Garden, for local television in Southern California. This led to executive producing travel series, Off the Beaten Path,  for PBS in California, which led to producing national documentary and magazine shows in Los Angeles.

Sharon was brought up to Humboldt County in Northern California to produce a news show, then became the lead features writer for the Times-Standard, the longtime daily paper in the county.

While working in media in the cannabis capital of the world, Sharon presented with breast cancer and was given cannabis oil made by Pearl Moon of the Bud Sisters of Southern Humboldt. Much to her surprise, the oil successfully put the cancer into remission, while simultaneously doing away with upwards of 10 prescription medications and supplements taken for numerous ailments.

Since she already had a voice in the media Sharon followed the calling and has written exclusively and extensively on cannabis as medicine ever since. Called one of the most prolific and informative writers in the space, for the past ten years she’s written for just about every cannabis publication and platform, penning patient profiles, telling successful stories of healing with cannabis.

Sharon also shares her own stories of healing regularly, penning essays on her own cancer experience in using cannabis as medicine, treating and preventing colds, flu, the coronavirus, broken bones, fractures – and replacing opioids with cannabis oil. She’s even included her dogs in the mix, from their rescue near death, to their current healthy lifestyle that includes dosing daily with cannabis and/or CBD.

Recently, her path has brought her full-circle back to media, developing television series from the series she’s written for magazines for years . Her two series, What’s in Your Stash?, written for High Times for the past two years, and Weed Traveler, a travel series for Weed World Magazine in the UK, are currently being shopped by Montel Williams as executive producer, with ten more show concepts on her list.

She’s currently being represented by Pam Pho of D4EO Literary Agency, with an equally long list of book concepts, also based on the series she writes, being developed and shopped now.

This past weekend Sharon’s work was honored by Cannabis Activism Now Magazine, voted Best Writer in the cannabis industry by readers. 

You can read Sharon’s work, as follows: High Times: Higher Profiles, What’s in Your Stash? (TV); Weed World Magazine: Kitchen Apothecary, Weed Traveler (TV); Women of Weed World; Vegas & Tahoe Cannabis Magazine(s): Daily Dose, A Day in the Life of a Cannabis Patient; Dope Magazine: Road Trip: In Search of Good Medicine,  Cannaopolis (eBook/Amazon & scripted TV series); The Emerald Magazine: Humboldt Medicine; Humboldt Stories, eBook/Amazon (winner 2016 Tokey Awards); Toke Signals: Toke Stories; Educated Stoner: essays of personal healing. Self-syndicated globally in several languages.

Email: sharonlettsgardens@gmail.com
URL: http://www.sharonletts.com


StaffApril 20, 2018
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4min00

The promotions for 4/20 continue to get bigger and splashier with free pound raffles becoming the trend for this year

Denver

Diego Pellicer (DPWW) in Denver has a promotion where with each purchase between April 1 and April 27 enters customers into a raffle for a chance to win. The grand prize “pound” winner will receive a total of 16 ounces of marijuana, to be purchased in separate increments for $1 each ($1,600 retail value). The second place winner will receive a total of $28 grams of cannabis concentrate, also to be purchased in separate increments for $1 each ($504 retail value). The third place winner of the legendary seven-gram Cannagar will receive it for only $1 ($225 retail value). The winners will be drawn on April 27 at 4:20 p.m.

The first 250 people in the store on April 20, 2018, will receive a limited edition Diego Pellicer t-shirt with a silhouette of Diego Pellicer himself as well as a gift bag with coupons. In addition, the store has taken over the front cover and back page of the local Westword entertainment guide and included a golden ticket insert redeemable for various prizes. Look for coupons including $15 for an 1/8 oz., $18 grams of concentrate and 20 percent off edibles all week.

Las Vegas

Las Vegas cannabis dispensary The+Source is giving away one free pound of flower and hosting blazing block parties at both locations starting at 10 a.m. on Friday, April 20.

A pound of cannabis will be given away at a raffle held at 4:20 p.m. at the Las Vegas location. Patrons may qualify by earning green tickets from Friday, April 13 through Thursday, April 19.  One green ticket will be earned for every $200 spent or three for every $420 spent throughout the week at The+Source.

Local cannabis vendors and related companies including Matrix, Dixie, CW Nevada, O.penVAPE, VERT, District and Integral Associates will host pop-ups for merchandise giveaways, eating competitions, live entertainment and more.

4/20 specials that will be offered from Friday, April 13 through Thursday, April 19 will include flavored 500 mg disposable pens for $20, one half-ounce of Pineapple Express or Tangie popcorn buds for $100, Dixie 80 mg Awakening Mints for $10 and 20 percent off all O.penVAPE, VERT and District edible products.

Hello Guv’ner – Arizona

Arizona’s independent candidate for Governor Noah Dyer announced a 420 Raffle.

The campaign will raffle off 4 prizes of $420 each to be given to 4 Arizona medical marijuana cardholders for use at the dispensary of their choice.  To enter the raffle, participants simply need to sign Noah¹s online petition.

Dyer has been a vocal supporter of both medical marijuana and adult-use cannabis.  He is the only candidate with a comprehensive common sense cannabis policy. Noah has been openly critical of Doug Ducey and other politicians who have harassed cardholders, doctors, dispensaries, and other businesses and members of the cannabis community.


Peggi CloughApril 19, 2018
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5min00

A recent study done by LeafLink predicts that this 4/20 will be the first ever to have retail sales top $1B, even reaching as high as $1.2B, based on their wholesale marketplace figures.

LeafLink, a B2B e-commerce marketplace for cannabis, used proprietary data and sales figures to predict sales for this 4/20 holiday. They also identified that buyers are purchasing branded products rather than regular cannabis for their 4/20 celebrations.

The study found that the buying patterns of cannabis companies around the 4/20 holiday actually benefit consumers. The market, especially the recreational one, is so competitive that there’s little room to raise prices, even at a time when there will be more sales. As long as new brands are popping up monthly, a particular product may have 10 other competitors in the same store, leading to near-saturation of some product markets.

March was in the top three ordering months for retailers on LeafLink last year—with purchases 14 percent larger than in average months. These orders were actually 24 percent larger than those placed in April. This shows most retailers were already prepping for 4/20 a month ahead of time. In March of both 2017 and 2018, LeafLink’s retailers in Colorado spent 50 percent more on LeafLink than they did in February. March 2018 saw over $29M in orders placed, with the online marketplace’s annual sales being $356M.

It’s not only retailers that are increasing their 4/20 supply. According to Flowhub, in 2017, total sales of cannabis by consumers on 4/20 represented a 44 percent increase from an average Thursday and 30 percent more than an average Friday. The number of people who checked into dispensaries on 4/20 increased by 40 percent from a typical Thursday and by 28 percent from a typical Friday. Flower was the top seller, with the equivalent of nearly 900,000 bowls sold.

This year, LeafLink created a “Cyber Monday” promotion on 3/20 to prepare for 4/20. They say people are driving from other states to purchase cannabis for the holiday, so competition to win over their business is aggressive. They discovered that retail dispensaries are eager to capitalize on 4/20. They buy in bulk, due to the industry’s banking restrictions that limit purchases they can make over time. Although other industries don’t have these constraints, cannabis companies have figured out how to work within them.

The Cyber Monday campaign was a success; products that were featured had an average increase of 31 percent over those not included in the special. Edibles were the biggest hit—some had more than double the orders over the previous week.

While LeafLink predicts 4/20 sales may peak someday, they don’t see that happening in the next five to 10 years. During this time, they foresee the month prior to 4/20 being the best time for sales, with people continuing to travel to recreational states for 4/20. They also believe the influx of new products and brands will remain high in the near future.

The 4/20 information and data provided by LeafLink can help cannabis retailers and companies by giving them a look at demands and buying patterns, not only of customers but also of the industry. The study shows that it’s worth the investment for cannabis companies to stock up on products in March to prepare for the 4/20 rush.

 


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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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