The Daily Hit is a recap of the top financial news stories for Monday, April 29, 2024. On the Site U.S. Supreme Court takes up RICO case brought by CBD companies The nation’s high court will hear arguments on whether civil personal injury claims can be brought under federal racketeering …
Arkansas medical marijuana sales eclipse records as prices fall
The medical cannabis industry in Arkansas is showing no signs of slowing down, with $44.8 million in sales during February and March 2024, according to the state Department of Finance and Administration. The state’s dispensaries sold a combined total of 11,681 pounds over the two months, bringing the first quarter …
U.S. Supreme Court takes up RICO case brought by CBD companies
The U.S. Supreme Court has agreed to take up a case involving a trio of cannabis companies that could have wide-ranging financial impacts for companies that dabble in non-psychoactive CBD products. According to Law360, the nation’s high court will hear arguments in a case that illustrates a legal divide between …
Wholesale carries Decibel in 2023 as retail chokes
Alberta-based Decibel Cannabis Company Inc. (TSXV: DB) (OTCQB: DBCCF) reported a mixed performance for the year and quarter ending Dec. 31, 2023, with retail struggles and recent challenges in its international expansion efforts. In 2023, the Canadian cannabis and extract manufacturer’s net revenue surged 46% to $116 million, while adjusted …