Nearly 1 in 4 pain patients residing in states where medical cannabis access is legal identify as marijuana consumers. The post Study: Cannabis Provides Sustained Health-Related Quality of Life Improvements in Chronic Pain Patients appeared […]
Canada: One in Four Older Adults Have Used Cannabis in the Past Year
Two-thirds of older consumers say they use cannabis “to improve or manage a physical health condition,” including chronic pain, depression, anxiety, and sleep disturbances. The post Canada: One in Four Older Adults Have Used Cannabis […]
Illinois: State Launches University-Affiliated Cannabis Research Institute
The Institute is funded by a three-year, $7 million grant from the Illinois Department of Human Services. The post Illinois: State Launches University-Affiliated Cannabis Research Institute appeared first on NORML.
Decibel revenue fell on Canadian competition as it looks toward exports
Canadian cannabis producer Decibel Cannabis Co. (TSXV: DB) (OTCQB: DBCCF) reported a 12% year-over-year decline in its third-quarter revenue as the company battled increased competition in Canada and paused exports to Israel, though the company says a recent acquisition will help expand its international reach. Revenue fell to C$24.1 million …
Cannabis markets take shape as US territories look to capitalize on tourism
A $40 tourist medical card and easy access to beachfront dispensaries – that’s the new reality for the U.S. Virgin Islands after it began licensing its adult-use market this week. USVI joined other U.S. territories in positioning to capitalize on the visitor traffic that already comes to their shores. The …
Why we launched a paywall
The business side of cannabis is complicated. At Green Market Report, our mission is to empower cannabis professionals with the news and insights they need to make smart business decisions. Providing the quality coverage our audience depends on takes time, care and resources, so as of Wednesday, Nov. 20, much …
Psyence Biomedical to consolidate shares in bid to keep Nasdaq listing
Psyence Biomedical Ltd. (Nasdaq: PBM) will implement a 1-for-75 share consolidation next week as the psychedelics company works to maintain its Nasdaq listing, the company said Tuesday. The consolidation will take effect at market open on Nov. 26, with shares continuing to trade under the ticker PBM, the New York-based …
Arkansas medical marijuana sales down year-over-year through October
Arkansas medical marijuana sales are down slightly year-over-year through the end of October, according to newly released state data, which shows total cannabis sales for 2024 at $227.8 million, as opposed to $234 million for the first full 10 months of 2023. According to the Arkansas Department of Finance and …
California distributor Nabis is New York bound
Cannabis distributor Nabis is looking to apply the lessons and strategy that brought it success in its home state of California to a new market: New York. The Oakland-based operator announced its entrance into the Empire State earlier this month, after expanding into Nevada earlier this year. Nabis CEO Vince …
Minnesota culls social equity applications in advance of December license lottery
Minnesota cannabis regulators disqualified about two-thirds of the roughly 1,800 applicants for social equity business licenses, meaning the permit lottery scheduled for the week of Dec. 2 will be reserved for 640 hopefuls. Applicants who were winnowed out either failed to complete the entire application process or didn’t meet eligibility …
Fluresh to close Michigan cannabis grow facility, lay off 46
This story was republished with permission from Crain’s Detroit. A largescale marijuana cultivation site is shuttering, unable to survive Michigan’s record-low cannabis prices. Fluresh LLC will close down its $46 million 105,000-square-foot grow facility in Adrian and will be laying off 46 employees at the end of this month. The company, doing …
Number of the Week: 44.6%
44.6% – Percentage of pre-rolls sold that were purchased by millennials The popularity of cannabis pre-rolls has been growing, and that trajectory is primarily being driven by one demographic cohort: millennials. As of September, millennials were responsible for nearly half (44.6%) of all pre-roll purchases. Gen X was a distant …
Cannabis stocks shake out as Trump return looms
Donald Trump’s forthcoming return to the White House and his nomination of pro-legalization (but not pro-Florida legalization) Matt Gaetz for attorney general adds a new dimension to the cannabis sector’s outlook. But stock performance remains tightly linked to state markets, said Pablo Zuanic, managing director at Zuanic & Associates, in recent …
The Daily Hit: November 18, 2024
The Daily Hit is a recap of the top financial news stories for Monday, November 18, 2024. On the Site New York judge rules some hemp shops can remove ‘illicit cannabis’ signs The lawsuit is challenging crackdown efforts by city officials. Read more here. Georgia medical cannabis industry set to …
California pubcos: Lowell’s layoffs, Gold Flora’s IRS hopes
Several big-name publicly traded cannabis companies in California are in obvious distress, which begs the question, how long until more of them join the conga line into receivership and bankruptcy? Last week alone, Lowell Farms (CSE: LOWL) (OTCQX: LOWLF) reported that it lost another $3.6 million in its latest quarter, …
Cannabis REITs navigate tenant stress, even as rate cut lifts real estate stocks
Cannabis real estate lenders are taking markedly different approaches to troubled credit and market headwinds lately, with some aggressively restructuring loans while others maintain a wait-and-see approach, according to earnings calls over the past week. While broader real estate stocks rallied on the Federal Reserve’s latest rate cut, with the …
Lowell Farms shrinks losses, but revenue continues to shrivel
California-based Lowell Farms (CSE: LOWL) (OTCQX: LOWLF) this week reported a net loss of $3.6 million for the third quarter, down significantly year-over-year, but adding to its year-to-date losses, which now stand at $7.3 million. Revenue for the quarter hit $3.2 million, a year-over-year decrease of 48% from $6.2 million, …
Gold Flora losses continue to mount, even as revenue ticks up
California-based Gold Flora Corp. (CBOE: GRAM) (OTCQB: GRAM) this week reported a net loss of $18.8 million, bringing its losses for the year thus far to $56.5 million, a dramatic turnaround from a year ago, when the company reported net income of $22.9 million for the quarter and was nearly …
C21 defies Nevada cannabis slump with 14% sales jump, margin gains
Vancouver-based C21 Investments Inc. (CSE: CXXI) (OTCQX: CXXIF) bucked state cannabis market trends with a 14% sequential revenue jump to $7.5 million in its fiscal second quarter, as its new south Reno location helped offset broader headwinds. The retail segment generated $7.1 million in the second quarter, up 10% from …
Treasury Report: Over 800 Banking Institutions Report Relationships With State-Licensed Cannabis Businesses
Nonetheless, fewer than ten percent of all financial institutions nationwide currently provide services to state-licensed cannabis businesses. The post Treasury Report: Over 800 Banking Institutions Report Relationships With State-Licensed Cannabis Businesses appeared first on NORML.