Now that the U.S. Department of Justice has formally begun moving forward with a proposed rescheduling of marijuana, the cannabis industry has been abuzz with rumors and optimism about how the reform could spur even more business-friendly developments. But it’s worth remembering that the rescheduling process will take months, at …
The Daily Hit: May 7, 2024
The Daily Hit is a recap of the top financial news stories for Tuesday, May 7, 2024. On the Site DEA chief dodges marijuana rescheduling questions from Congress Administrator Anne Milgram advised that she would not comment on the process as the DEA will ultimately make the decision. Read more …
Goodness Growth buoyed by higher retail sales, while New York exit looms
Goodness Growth Holdings (OTCQX: GDNSF) reported improved first-quarter results for the period that ended March 31, aided by adult-use sales in Maryland. But the company continues to grapple with fallout from its soured merger with Verano Holdings and its forced exit from New York’s market. Goodness Growth posted revenue for …
California cannabis shop sues state, claims pro-union requirements unconstitutional
A California marijuana retailer has filed a new federal lawsuit against state cannabis regulators and the attorney general’s office, asserting that pro-union requirements in the cannabis sector are unconstitutional. At issue are longstanding mandates enacted by the state legislature that any cannabis company with 20 or more employees enter into …