The Daily Hit: December 18, 2023

The Daily Hit is a recap of the top financial news stories for Dec. 18, 2023.

On The Site

Former U.S. Attorneys Fighting Cannabis Rescheduling

Citing the old classics reminiscent of Reefer Madness, nearly 30 former U.S. Attorneys sent a letter to Attorney General Merrick Garland asking that cannabis not be reclassified as a Schedule III drug. Read more here.

Trend of Distressed Michigan Dispensaries Closing Without Paying Vendors

A trend has begun in the Michigan marijuana community of financially strapped dispensaries closing up shop quietly without paying off sizable debts, leaving vendors with little recourse but to try and sue. Read more here.

Prominent New York Marijuana Attorney Sues Former Firm, Alleges Unfulfilled Contract

New York marijuana attorney Lauren Rudick, who has made a name for herself in cannabis business circles over most of the past decade, filed suit recently against her former law firm and alleged she was owed hundreds of thousands under an employment contract she says went unfulfilled. Read more here.

Kent State University Contracts With Green Flower for Cannabis Education Courses

Kent State University is breaking into cannabis education, and courses begin as soon as next month. To do this, KSU is partnering with Green Flower, an online education platform founded in 2014 in Ventura, California, by CEO Max Simon. Read more here.

Report: Jushi Plays Long Game to Weather Cannabis Volatility

Despite weathering the challenging headwinds facing the cannabis industry over the past few years, Beyond Hello dispensaries owner Jushi Holdings Inc. (CSE: JUSH) (OTCQX: JUSHF) has forged a path toward growth and resilience, according to a recent report by Water Tower Research LLC. Read more here.

In Other News

Colorado

Coda Signature, a multi-state edibles manufacturer founded in Boulder, has ended operations in Colorado. Read more here.

Missouri

Missouri’s crackdown on a cannabis company accused of illegally importing THC concentrate could lead to a showdown over the state’s authority to regulate the industry. Read more here.

Minnesota

Minnesota health inspectors monitoring the sale of hemp-derived THC edibles recently found more than 1 in 3 retailers they checked were carrying illegal high-dose products. 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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