The Daily Hit: February 12th, 2020

Its time for your Daily Hit of cannabis financial news for February 12th, 2020. 

On the Site

Kentucky Hemp Farmer Files For Bankruptcy 

GenCanna Global USA, Inc. filed a petition for voluntary Chapter 11 reorganization with the U.S. Bankruptcy Court in the Eastern District of Kentucky. The filing will allow GenCanna to continue to operate its business without interruption to customers, vendors, partners, and employees while working through a reorganization plan that could include the refinancing of the company’s existing indebtedness, or an alternative restructuring transaction such as a sale.

Despite Layoffs, Cannabis Industry Job Growth Continues to Boom

Companies in the cannabis industry have faced a series of layoffs in 2019 and early 2020. Though many jobs were cut, the industry continues to grow at a rapid pace. Its addition of roughly 30,000 jobs last year qualifies it as the fastest-growing job sector in the United States.  

In Other News

Kentucky Medical Cannabis Bill One Step Closer to Reality

Kentucky’s House committee overwhelmingly approved a bill legalizing medical marijuana in the state. The bill, however, might face a snag in the Senate, where there is less enthusiasm about medical cannabis coming into play in Kentucky. Opponents of the bill claim more research is needed before it can safely pass into law for use.

Kaitlin Domangue

Kaitlin is a cannabis reporter for the Green Market Report, covering every angle of the industry. She also works directly with cannabis brands as a content marketer.


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About Us

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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