The Daily Hit is a recap of the top financial news stories for Thursday, April 11, 2024.
On the Site
New York cannabis regulators award more permits, get earful from unhappy licensees
New York cannabis regulators further expanded the state’s legal market on Thursday with the approval of another 101 marijuana operate, but the board also got an earful from financially troubled retail permit holders who said they may go bankrupt while awaiting the green light to open for business. Read more here.
Report: Medical marijuana program enrollments up 500% from 2016 to 2022
A new federally funded report that tallied medical marijuana patient statistics from across the country found a dramatic increase of registered cannabis patients over a seven-year period, from roughly 678,000 in 2016 to more than 4.1 million at the end of 2022. Read more here.
Alabama Senate moves to restart medical cannabis licensing
An Alabama Senate committee on Wednesday approved a pair of bills designed to revive the state’s stalled medical cannabis licensing process. Read more here.
Village Farms extends cannabis share in Canada, announces natural gas venture
Village Farms International Inc. (NASDAQ: VFF) is looking to boost its cash flow and profitability by launching a renewable natural gas facility in British Columbia. Read more here.
Peace, music and lawsuits as Woodstock cannabis rivals continue battle
The famous three-day musical festival in Bethel New York known as Woodstock has spawned an epic battle between two competing cannabis rivals. Read more here.
U.S. cannabis industry added 23,000 jobs last year, a sign of stabilization
The U.S. cannabis industry tacked on another 22,952 jobs last year, a 5.4% year-over-year growth, for a new total of 440,445, according to a new report from cannabis headhunting firm Vangst, in partnership with Whitney Economics. Read more here.
In Other News
Massachusetts
The Cannabis Control Commission opened a two-week public comment period for constituents to weigh in on the new “Model Municipal Equity By-law or Ordinance” template. Responses to the draft should be emailed to [email protected] with a subject line of “Public Comment: Model Municipal Equity By-law or Ordinance” no later than April 25 at 5 p.m. Read more here.
Oregon
Democratic Gov. Tina Kotek has signed legislation (HB 4121) into law placing an indefinite hold on licenses for those seeking to enter the state’s commercial marijuana marketplace. Read more here.
California
The state of California issued a mandatory recall Tuesday for two products produced by Mike Tyson’s cannabis brand after the state found evidence that the products contained mold. The recalled products were sold at 20 stores across the state, including three in San Francisco. Read more here.
Washington, D.C.
A push to crackdown on marijuana dispensaries near D.C. schools has sputtered, as one controversial shop moves forward. Read more here.
