The Daily Hit: October 31, 2024
News from: New York, Cookies Retail, Tennessee, Compass Pathways and more.
The Daily Hit is a recap of the top financial news stories for Thursday, October 31, 2024.
On the Site
Report: New York could be a $6 billion market in just two years
The New York market has been impacted with the explosion of unlicensed operators hurting store profits.
Legal fight brewing in Tennessee over new intoxicating hemp crackdown
The new rule is slated to go into effect on Dec. 26.
Cookies Retail sues Cookies Creative over settlement breach
Cookies Retail is suing the company for $12.5 million.
Compass cuts 30% of staff as late-stage psilocybin drug trials face new delays
The company now expects top-line data from its main Phase 3 trial in the second quarter of 2025.
NB Bancorp cannabis loans jump 18% in third quarter
Cannabis loans now make up 20% of its $1.55 billion commercial real estate portfolio, the largest exposure of any segment.
In Other News
Minneapolis
The Minneapolis City Council on Thursday approved regulations on where cannabis dispensaries and producers can set up shop once licenses become available. Like its neighbor St. Paul, Minneapolis chose to adopt the minimum 300-foot buffer zone from schools as required by state law.
Kentucky
Kentucky will hold two lotteries to distribute 48 licenses to companies looking to set up medical marijuana dispensaries across the state. The first lottery drawing will take place Nov. 25, with the final drawing slated for Dec. 16.
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