Nevada Assembly Committee Approves Senate-Passed Bill To Create Psychedelics Working Group
A Nevada Assembly committee has approved a Senate-passed bill that would create a new working group to study psychedelics and develop a plan to allow regulated access for therapeutic purposes. The Assembly Health and Human Services Committee advanced the legislation from Sen. Rochelle Nguyen (D) in a voice vote on Friday, less than a week […]
New Jersey Regulators Will Exclusively Accept Certain Marijuana Licenses From Social Equity Applicants For One Year
“If there’s something we could do, and if you’re serious about pushing social equity, let’s get these things across the finish line.” By Sophie Nieto-Muñoz, New Jersey Monitor The agency overseeing New Jersey’s marijuana market made a move Thursday that aims to increase the number of cannabis businesses run by people with prior convictions for […]
Colorado Governor Signs Bill To Allow Online Marijuana Sales
The governor of Colorado has signed a bill into law that would allow online marijuana sales. About a month after the measure from Reps. William Lindstedt (D), Said Sharbini (D) and Robert Rodriguez (D) cleared the legislature, Gov. Jared Polis (D) gave it final approval on Thursday. It strikes language from existing statute that explicitly […]
Hunter Biden’s Attorneys Cite Marijuana And Gun Ruling To Deter Charges On Alleged Federal Form Lying, Reports Say
Attorneys for President Joe Biden’s son reportedly told Justice Department officials that a recent federal court ruling on gun rights for people who use marijuana should invalidate any charges related to allegations that he lied about his drug use on a federal firearms purchase form. As federal prosecutors investigate the 2018 handgun purchase, which took […]
Rhode Island Launches Online Medical Marijuana Patient Registration System
“It is very important that patients create an account in the portal to be sure they get important messages and updates.” By Christopher Shea, Rhode Island Current Rhode Islanders can now apply for a medical marijuana license online. The Rhode Island Department of Health (RIDOH) on Thursday announced the launch of the Rhode Island Cannabis Licensing […]
California Assembly Approves Bill To Legalize Marijuana Cafes
The California Assembly has passed a bill to legalize marijuana cafes, allowing dispensaries to offer non-cannabis food and drinks at their location if they receive local approval. The legislation from Assemblymember Matt Haney (D) cleared the chamber in a 59-9 vote on Wednesday and now heads to the Senate for consideration. “The legal cannabis industry […]
: Trulieve laying off 128 people as it exits Massachusetts business: Report
Trulieve Cannabis Corp. TCNNF is laying off 128 people as part of its announced exit from Massachusetts, MJBizDaily reported. The Florida-based cannabis company is closing dispensaries in Framingham, Northampton and Worcester on June 30. A cultivation facility in Holyoke will shut down by the end of the year. A retail dispensary in Grover Beach, Calif., will also shut down. Trulieve CEO Kim Rivers said the moves reflect the company’s effort to preserve cash “as we continue to focus on our business strategy of going deep in our core markets and jettisoning non-contributive assets.” The company said it remains confident in its market position overall as well as the long-term prospects for the industry. Alliance Global Partners analyst Aaron Grey reiterated its buy rating on Trulieve and said the company’s overall business remains on track. “While Trulieve may offer less geographic diversification than some other operators under coverage, its dominance in the Florida medical market and notable opportunity in the potential Florida adult-use market presents meaningful upside, in our view,” Grey said. Trulieve stock is down 46.1% in 2023, compared to a 23% drop by the AdvisorShares Pure U.S. Cannabis ETF MSOS. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
: Cannabis company Acreage names former Procter & Gamble exec as CEO
Acreage Holdings Inc. ACRHF on Friday said it’s promoting its chief operating officer Dennis Curran to chief executive officer as of July 1. Curran joined the New York-based cannabis company in 2022 after previously working in executive positions at Procter & Gamble Co. PG and GSK Consumer Health in sales, distribution and marketing. Acreage CEO Peter Caldini will resign on June 30. Acreage is combining with Jetty Extracts and Wana Brands to form Canopy USA LLC as the U.S.-unit of Canopy Growth Corp. CGC. Last week, Canopy Growth Corp. CGCfiled a revised proxy statement with the U.S. Securities and Exchange Commission updating its strategy to accelerate entry to the U.S. cannabis industry through a U.S.-domiciled Canopy USA. Acreage stock is down about 47% in 2023, compared to a 23% drop by the AdvisorShares Pure U.S. Cannabis ETF MSOS. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
FL cannabis legalization has enough sigs for ballot (Newsletter: June 2, 2023)
Military psychedelics bill in Congress; CA Senate votes to shield marijuana use history in job apps; CO gov signs cannabis professional protections Subscribe to receive Marijuana Moment’s newsletter in your inbox every weekday morning. It’s the best way to make sure you know which cannabis stories are shaping the day. (function() { window.mc4wp = window.mc4wp || […]
Here’s How Missouri Spends Its Legal Marijuana Revenue
After expenses, revenue can go towards processing cannabis expungements, supporting veterans, funding drug treatment and adding to the Missouri Public Defenders System’s budget. By Rebecca Rivas, Missouri Independent Since Missouri’s marijuana sales began in 2019, the state has collected nearly $100 million in revenue from taxes and program fees, according to state authorities. Etched in […]