The Daily Hit is a recap of the top financial news stories for Tuesday, August 27, 2024. On the Site Ascend Wellness parts with both its CEO, CFO Declining sequential revenue and increased losses may have led to the C-suite overhaul. Read more here. Cannabis stocks tumble as rescheduling hopes …

Ohio marijuana regulators issued $212,500 in fines to five cannabis companies – including two that are publicly traded – for various advertising moves that weren’t preapproved in the days leading up to the recreational cannabis market launch on Aug. 6. The state’s Division of Cannabis Control punished Greenleaf Apothecaries, which …

Cannabis investors are a hardy bunch. They have been beaten down time and time again, but continue to hang tough with the sector despite continuous markdowns in the stock valuations. This week’s news of a delay in the rescheduling process has slapped the stocks down yet again. The AdvisorShares Pure …

Psilera Inc. reported positive results in initial studies of its non-hallucinogenic psilocybin drug that it plans to use in dementia treatments. The initial toxicity readouts from maximum tolerated dose in vivo studies show a strong safety profile for the company’s PSIL-006 drug. “From the start, our primary focus was to …