Kaitlin DomangueIt’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
- Cartridges
- Topicals
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
Innovative Industrial Properties, Inc. (NYSE: IIPR) reported its earnings from the fourth quarter yesterday, exceeding analysts’ expectations. The quarter ended on December 31st, 2019.
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.
