New Mexico Senate Bill 219, the Medical Psilocybin Act, moved a step closer to becoming a reality. The legislation would allow the use of psilocybin for qualified medical conditions, create an advisory board and amend the Controlled Substances Act removing psilocybin and psilocin from the schedule. The bill, which was sponsored …
Marijuana backers criticize Ohio bills attempting to change state law
This story was republished with permission from Crain’s Cleveland Business and written by Megan Henry, Ohio Capital Journal. Marijuana advocates called bills to change Ohio’s weed laws “a slap in the face” to voters. The National Organization for the Reform of Marijuana Laws hosted a webinar last week about two bills that… …
SNDL tops revenue expectations as cannabis segments outperform
SNDL Inc. (NASDAQ: SNDL) eclipsed analyst expectations for both the fourth quarter and full year ending Dec. 31, 2024, posting record revenue figures driven primarily by strong performance on the cannabis side of things. The company reported fourth-quarter revenue of C$257.7 million, surpassing the Yahoo Finance analyst expectation of C$197.75 …
Dividends shine as cannabis company valuations tumble
Few cannabis stocks are in the position to pay dividends to shareholders, and the entire sector has seen valuations get crushed. For example, the AdvisorShares Pure US Cannabis ETF (NASDAQ: MSOS) is down 68% for the past 12 months. Yet, there are a handful of cannabis companies that do pay …