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