Marijuana Money June 11, 2021

Marijuana Money Minute

Connecticut failed to move forward with legalizing adult-use sales. The state has already legalized marijuana, but state Republicans thwarted the effort to expand legalization by delaying a vote.

This week Vireo Health changed its name to Goodness Growth Holdings, which is similar to the companies retail store name Green Goods. The company also changed its ticker from VREOF to GDNSF on the OTC Marketplace.

Jushi Holdings got caught up on its financial earnings releases. The company delivered the full year 2020, fourth quarter 2020, and first quarter 2021 this week. For the first-quarter revenue increased 29% sequentially to $32 million. Jushi also forecast that for the second quarter revenues should be in the range of $40-$45 million, which is a little slower growth than what the company has been experiencing

Planet 13 reported record sales in May as Las Vegas comes roaring back to life. May is the 3rd month in a row the company has had record sales as the company recorded $11 million. Sales are even better than before the pandemic and Vegas hotels are quickly selling out as tourists return from lockdowns.

California supply chain company bought the cannabis software company Blackbird, which once belonged to TILT Holdings.

In money moves, Red White & Bloom raised over $36 million and retired $7.7 million in debt. While Auxly Cannabis raised $15 million. Viridian Advisors has noted that so far in 2021, cannabis companies have raised twice as much money as in 2020 at this point in the year.

 

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