Red tape, illicit market competition, and a lack of enforcement by regulators have all created a “doom loop” for licensed cannabis companies in New Jersey, one of the state’s leading trade organizations claimed in a recent report. According to the New Jersey Cannabis Trade Association, the state has been too …

The Daily Hit is a recap of the top financial news stories for Aug. 24, 2023. On The Site High Times Names Fifth CEO in 5 Years Despite a looming deadline with its lender ExWorks, High Times named Shaun Jarvis as interim chief executive officer. The financially troubled cannabis media company saw …

Cannabis payment provider POSaBIT Systems Corp. (CSE: PBIT) (OTC: POSAF) posted a $1.8 million loss for the second quarter of 2023, despite increasing its revenue by 64% year-over-year to $13.4 million. Revenues were also up sequentially from the first quarter of the year, when POSaBIT pulled in $11.5 million for …

Big Plan Holdings teamed up with Evelyn Capital to purchase a cannabis tenant retail building in Monaca, Pennsylvania, from Ascend Wellness Holdings for $3.25 million. The acquisition is a part of the Nashville-based holding company’s strategy to expand its regional cannabis footprint. “We are pleased to partner with fellow Tennessee-based and …