It’s time for your Daily Hit of cannabis financial news for February 27th, 2020.
On the Site
Top Selling CBD Products on LeafLink
LeafLink broke down the data of their top-selling products at the request of Hemp Market Report, with the top-selling product being Mary’s Medicinals patch priced at $10. The rest of the list is as follows:
Most purchased products containing CBD (by order volume)
- 1:1 CBD:THC Patch, 100 mg – Mary’s Medicinals
- 1:1 CBD/THC Sour Gummies, Strawberry Lemonade – Wana Brands
- 10:1 CBD/THC CBD Therapy Assorted Pucks, 200 mg – CannaPunch
Top categories for products containing CBD
- Edibles & Ingestibles
Top-selling brands with products containing CBD
- Terrapin Pennsylvania
- Wana Brands
- Mary’s Medicinals
Social Club TV Gives Cannabis Content a Home
Green Market Report was able to talk with Josh Otten of Social Club TV. Social Club TV is a collaboration of RONIN Content Services (CEO Josh Otten) and Cookies (CEO Berner Milan Jr.) This is a cannabis network that will be available for streaming on Apple TV, Amazon Prime, Roku, and Pluto. The network features over 17 series and 300 episodes.
Innovative Industrial Properties Generates $17 Million in Q4
The cannabis real estate company reported total revenue of approximately $17.7 million in Q4, an astonishing 269% increase from the prior year’s quarter. This is an amazing jump from the companies total revenue of just $4.8 million in Q4 of 2018.
Vermont Takes Another Step Towards Legalization of Recreational Cannabis
On Wednesday, the Vermont House of Representatives voted in favor (90-54) of a bill that would legalize, regulate, and tax cannabis sales for adults 21 and older.
According to the Marijuana Policy Project, S. 54 will now be scheduled for a final House vote, which is expected tomorrow. If it passes there, it will return to the Senate, which has already approved a different version of the bill in a 23-5 vote. The House and Senate will have to agree on a final version of the bill before it can proceed to Gov. Phil Scott’s desk.
In Other News
Acreage Holdings Stock Falls Due to Q4 Earnings
Acreage reported a loss of $50.5 million over the 3-month period of Q4, with revenue coming in at $21.1 million. Despite revenue for the full year reaching $155 million, full-year net loss was US$150.3 million, leading to an 8% drop-off in Acreage stock.