Glass House Farms Archives - Green Market Report

Julie AitchesonDecember 21, 2020
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4min13620

The Post Office is backed up, mall Santas far and wide are doling out Christmas cheer from inside plastic bubbles, and the conundrum of what to gift someone who has quite likely been through one of the hardest years of their life (spoiler: that’s almost all of us) are making holiday shopping a real conundrum this year. According to a new consumer poll conducted by vertically integrated cannabis and hemp company Glass House Group, a significant number of customers will be rising to the Covid Christmas challenge by giving the gift of cannabis.

With more than 630 respondents citing flower, edibles, and pre-rolls as top choices for their holiday gifts, results suggest that cannabis gifting is among Christmas 2020’s hottest consumer trends. This points to the mainstreaming of cannabis as well as other factors. A majority of poll respondents (64.2%) stated that they plan to reduce alcohol consumption with cannabis during the holidays, with 67.4% predicting that they will replace alcohol with cannabis to a greater extent than they did in 2019.

The heightened focus on health and wellness concerns prompted by the pandemic is also a contributing factor, not just through attempts to reduce alcohol consumption but to manage holiday stress (53.4% of respondents) and relieve pain (50.3%).  The number one reason for cannabis consumption given was to get a better night’s sleep, followed by “general wellness” with “just for fun” coming in third.

So with all of this wellness-minded gifting (71.2% of respondents plan to give cannabis to friends with family coming in second at 65.2%) what might one find under the tree or peeking out of a stocking this year? Glass House’s poll shows flower topping the list, with 65.8% of respondents planning to buy buds for their buds, while edibles, pre-rolls, and CBD products ranked second, third, and fourth respectively. Flower also received top designation as the form of cannabis consumers are hoping to receive this year. This bodes well for a merry Christmas morning among the discarded wrapping paper and ribbon. The rest of cannabis products follow a similar order of preference to those most likely to be given with the exception of vapes, which ranked above CBD products as the gift 33.2% of respondents hope to receive.

Glass House Group Co-Founder, Chairman, and CEO Kyle Kazan believes that this poll reflects a paradigm shift towards cannabis as a mainstream choice for consumers. “As we make our way into 2021, we will look forward to rolling out new products from Glass House Farms, bringing our customers new retail experiences and continuing to provide new insights into the fastest-growing consumer movement our country has seen in nearly a century.”


William SumnerAugust 1, 2019
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It’s time for your Daily Hit of cannabis financial news for August 1, 2019.

On the Site

Executive Spotlight: Jamie Warm, CEO and Co-Founder of Henry’s Original

Jamie Warm is the CEO and Co-Founder of Henry’s Original. Despite the young age of the legal industry, Jamie has only had one career: growing cannabis. At Henry’s Original,  his responsibilities include setting the overall strategic vision of the company, driving retail penetration and nurturing the financial health of the company.

Tribune Publishing Enters Agreement With The Fresh Toast For Cannabis News

The medical and recreational marijuana industry just received a major boost with consumers.   Like Walmart, Kroger, CVS, Amazon, and other retailers embrace CBD, now mainstream media is working to give consumers the knowledge on how to use and where to shop.   Tribune Publishing Co. (NASDAQ: TPCO), the owner of the Chicago Tribune, NY Daily News, Orlando Sentinel, South Florida’s Sun-Sentinel, Hartford Courant and more along with syndicating content to over 500 United States newspapers, has entered a partnership with The Fresh Toast, one of the largest cannabis media companies in the industry.

Nielsen Predicts Legal Cannabis Sales In The U.S. To Reach $41 Billion By 2025

Cannabis was featured in Nielsen Company’s Total Consumer Report 2019, with the data and information company predicting the sales of cannabis consumer packaged goods to rise 5x that 2018’s sales. They forecast that the sales of all legalized cannabis products in the U.S. could reach $41 billion by 2025.

In Other News

Aphria

Today, Aphria Inc. (TSX: APHA) (NYSE: APHA) announced their financial results for the fourth quarter, ending on May 31, 2019. Net revenue was C$128.6 million, up 75% from the previous quarter. Revenue from adult-use cannabis was C$18.5 million. Adjusted EBITDA from cannabis operations was C$1.9 million. The net loss was C$15.76 million.  “It’s a new day at Aphria. Our team’s solid execution across key areas of our business resulted in strong adult-use revenue growth and a profitable fourth quarter,” stated Irwin D. Simon. “Over the last six months, our organization identified immediate priorities to help generate substantial progress near-term and long-term.”

Harvest Health & Recreation

Harvest Health & Recreation, Inc. (CSE: HARV) (OTCQX: HRVSF) today preannounced its unaudited revenue for the second quarter. Revenue is estimated to be between $26-$27 million, and between $75-$77 million when counting pending acquisitions of Falcon, Verano, CannaPharmacy and Devine Holdings and the closed acquisitions of Leaf Life and Urban Greenhouse. The company will release its full financial results on August 15, 2019.

Cadiz Inc.

Cadiz Inc. (NASDAQ: CDZI) announced that it has entered a joint venture partnership with Glass House Farms, which is a division of California Cannabis Enterprises. Operating under the name SoCal Hemp Co., up to 9,600 acres of hemp will be cultivated at Cadiz Ranch in San Bernardino County, California. “The sun-drenched, isolated natural environment at the Cadiz Ranch is ideal for the commercial production of organically sun-grown hemp and natural hemp-derived products, including CBD, which are presently driving market growth,” said Glass House Farms President Graham Farrar. “With plants already in the ground at the largest agricultural operation in San Bernardino County, we are working closely with the team at Cadiz to leverage our collective strengths. We look forward to bringing our full operation online and being a long-term, trusted partner and resource to the local community, our customers and clients.”


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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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