Green Market Report  |  October 3, 2022
GMR Morning Rise
Uncategorized
Welcome to The Morning Rise!
 
Good morning! We’re glad to be in your inbox today!
Welcome to Green Market Report’s The Morning Rise newsletter.
Even if you’re already subscribed to our Daily Hit, we believe you’ll find value in this newest addition to our news and information lineup.
What you can expect from The Morning Rise
Unlike The Daily Hit or the Weekly Stash, which recap the news we’ve already covered, The Morning Rise will provide you with new original content from our team on timely topics in the cannabis industry.
You’ll also see unique features that let you peer behind the GMR curtain to see what we’re up to. For example, Monday’s newsletter will feature “what we’re watching this week” to give you a heads up on the content to come.
In addition, we will provide you with quick-hit data snapshots to keep you up to speed on the industry and insights into what didn’t make the stories last week, including the colorful quotes from industry insiders that just didn’t fit in the final product.
This is a new adventure for us too, so we welcome feedback! What would you like to see more of? What’s not hitting the mark for you? Feel free to reach out to me directly at jenel@greenmarketreport.com to let me know.
Thanks for reading and enjoy The Morning Rise!
Jenel Stelton-Holtmeier, managing editor
* * * *
Uncategorized
New York Got More Than 900 Retail Applications. What’s Next?
*
 
New York state regulators received 903 applications for the first round of retail cannabis licenses, by the time the application window closed last Monday, an obvious demonstration of the sky-high interest in the upcoming adult-use industry.
But looking forward, stakeholders say there are still more questions than answers swirling around the business landscape, which is making it hard – if not impossible – to solidify plans.
The state reserved the first round of applications for those with cannabis-related criminal records and nonprofits that work with those harmed by the war on drugs. But stakeholders said the state Office of Cannabis Management hasn’t made firm decisions on:
How many retail licenses will be issued. Media reports including from The New York Times have put the number at 150, plus an additional 25 for nonprofits, for a total of 175 initial retail permits.
When social equity retail licenses will be awarded.
When the 10 existing medical marijuana businesses in the state can selling recreational cannabis themselves.
When the general public will be allowed to apply for retail permits.
Uncertainty for industry insiders
State officials have repeatedly said they hope to have sales launch by the end of 2022, but with far more regulatory uncertainty than clarity, that goal may prove elusive, said New York City attorney Lauren Rudick, who shepherded six applications in for social equity clients.
“We know they’re going to take the next 30 days or so to review the applications,” Rudick said, when asked what’s next in the licensing process. “What we know is we’re faced with a lot of uncertainty.”
Rudick said there isn’t much that’s been announced, and there are a host of questions, including when $50 million in state monies for upwards of 150 social equity retail locations will be actually put to use.
“We have no transparency or visibility into how they’re going to review these” applications, Rudick said.
That sentiment is echoed by Ngiste Abebe, president of the New York Medical Cannabis Industry Association.
“It’s very exciting to see where we are with the (adult-use) program so far in New York, but we have a lot of other questions left, because it’s a big program to be rolled out,” Abebe said.
* * * *
Uncategorized
What We’re Watching This Week
 
There’s always a lot going on in cannabis, and we don’t always know what the next thing will be. That said, here’s a list of some of the things we’ll be watching this week:
Vermont’s first week of adult-use sales: At least three retailers said they were ready to launch, but will the state’s industry be plagued by some of the same challenges seen as other markets have come online?
MedMen’s fight to not pay rent: While this case is solely focused on the beleaguered cannabis company, the outcome could have ripple affects across the entire industry.
Croptober: It’s time to start harvesting outdoor-grown cannabis crops. The industry often sees price declines for product as the new harvest enters the market, but with inflation, will things be the same?
What should we be watching? Have a tip? Email us at newstip@greenmarketreport.com.
* * * *
 
Facebook Twitter Instagram YouTube RSS
Green Market Report © 2017 – 2022. All rights reserved.
Unsubscribe      Subscribe      Advertise
 
Back to Top