The week's top financial stories for the cannabis industry.
The Weekly Stash
Debra Debra Borchardt
Green Market Report
Years ago as legalization battles waged, cannabis companies forecast that a legal industry would kill the illicit market and cannabis prices would grow like weeds. Unfortunately neither has happened. The illicit market remains strong, if not stronger as enforcement is spotty. Prices have fallen off the cliff and companies are pushing the planned profitable dates even further out. Sales have leveled off in some mature markets and companies are fighting for survival. However, you wouldn’t know that if you attended some of the recent cannabis conferences where panel after panel only spoke of the hoped-for good times. The spin may sound good in front of an audience, but the numbers don’t lie and many are fighting over the scraps in the industry.
Michigan Researchers To Study Cannabis Treatments For Chronic Pain
A trio of cannabis companies teamed up with researchers at the University of Michigan to figure out how to better target certain types of chronic pain with cannabinoid tablets and capsules...
Aurora Cannabis Focuses On Long-Term Value Despite 4Q Loss
Canadian cannabis company Aurora Cannabis (Nasdaq: ACB) (TSX: ACB) reveled in its "long-term value" despite the company stock being at one of its lowest points in the past 12 months after releasing its fourth quarter and fiscal year-end results as of June 30, 2022, on Tuesday...
C21 Revenue Falls Despite Healthy Balance Sheet
C21 Investments Inc. (CSE: CXXI) (OTCQX: CXXIF) posted results late after the market closed on Wednesday that showed slimming revenue in a state that has seen less tourist and local spending as wallets get tighter...
Vireo Health Sues Minnesota Over Hemp Edibles
Medical marijuana company Vireo Health, a subsidiary of Goodness Growth Holdings Inc. (OTC: GDNSF) is fighting back against a recent loophole for edibles in the state of Minnesota...
Safe Harbor SPAC Reduces Payment
This story has been updated as of September 23, 2022. Earlier this week, Green Market Report reported that the planned acquisition of Safe Harbor Financial by a special purpose acquisition company (SPAC) hit a snag when the parties announced a multiweek delay...
The Daily Hit
The Daily Hit: September 29, 2022
At least three Vermont stores will have adult-use cannabis sales beginning on Oct. 1: CeresMED in Burlington, Mountain Girl Cannabis in Rutland and FLORA in Middlebury...
The Daily Hit: September 28, 2022
TRP is a vertically integrated cannabis holding and operating company behind brands like Berner’s Cookies, B Real’s Dr...
The Daily Hit: September 27, 2022
10 Multistate Cannabis Companies Owe Half a Billion in Federal Taxes All told, the 10 multistate operators owe the Internal Revenue Service an eye-popping $507,193,000, according to their second quarter financial reports...
The Daily Hit: September 26, 2022
California Regulator Says Illegal Cannabis Business Should Pay $128 Million California’s cannabis regulation authority wants a group of business owners to pay $128 million in collective penalties for manufacturing and selling unlicensed products in the state for more than a year – which the state says the defendants admitted in court...
Oct. 07: Before Market Opens Tilray (NASDAQ: TLRY)
Sept. 24-25 Canna Con, Denver CO
Sept. 24-25 NECANN, Portland ME
Sept. 28-30 MJ Unpacked, Las Vegas NV
Oct. 1-8 Cannabis Week, Vermont
Oct. 5-6 Hall of Flowers, Santa Rosa CA
Oct. 7-10 NY Harvest Fest, Echo Lake Resort NY
Oct. 10-12 Trailblazers, Ojai CA
Oct. 12-16 Horizons, NYC
Oct. 17-19 Cannabis Quality, Parsippany NJ
Oct. 19-21 Arcview, NYC
Oct. 20-21 LMCC, NYC
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