The Daily Hit: December 13, 2023

The Daily Hit is a recap of the top financial news stories for Dec. 13, 2023.

On the Site

Investor Sues MjLink for Bogus Numbers

Investor Alan Lamothe filed a legal complaint against Decentral Life Inc. (OTC: WDLF) and several other entities alleging that the group made bogus claims about user numbers on the websites. Lamothe says he invested more than a million dollars believing the claims that the websites had millions of users, which would have led to significant income from ad revenues and subscriptions. Read more here.

Canopy Growth Stock Dips on Share Consolidation

Canopy Growth Corp. (TSX: WEED) (Nasdaq: CGC) lost nearly 14% premarket Wednesday after announcing a 1-for-10 share consolidation to comply with Nasdaq’s minimum bid price requirement. Read more here.

Alabama Picks New Integrated License Winners, Inches Closer to Launching Market

Following the multimonth saga that has been Alabama’s medical marijuana licensing struggle, the state commission charged with the task finalized its first round of permitting, after picking five companies as winners of the coveted integrated licenses. Read more here.

Closure of Skymint Cannabis Grow Offers Opportunity for Struggling Industry

The planned, and unceremonious, end to Skymint’s growing operations is a cautionary tale as old as the earliest strains of Hindu Kush from the ancient mountains of Afghanistan. Read more here.

Maryland Marijuana Sales Keep Growing

One of the newest recreational marijuana markets in the U.S., Maryland, continued ramping up sales through the fall, setting yet another new high water mark in November with $55.9 million in adult-use sales. Read more here.

In Other News

Harker Heights, Texas

Non-profit organization Ground Game Texas is suing the City of Harker Heights for the City’s failure to reform marijuana enforcement programs after voters approved the changes over a year ago. Read more here.

NJ Leaf

Freehold, New Jersey-based dispensary NJ Leaf has voted to organize with UFCW Local 360, a choice endorsed by its owner Ritesh Shah. Read more here.

Zaza R Us

A New York federal magistrate judge has recommended moving along efforts by the conglomerate operating the post-bankruptcy Toys R Us brand to use the powers of federal trademark law against a pair of unlicensed Brooklyn cannabis bodegas operating under the name “Zaza R Us.” Read more here.

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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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