StaffThe Daily Hit is a recap of the top financial news stories for Wednesday, August 7, 2024.
On the Site
High Times receiver returns to post, but with spending limits
Receiver Kevin Singer’s role has been severely scaled back to only to review purchase offers for assets.
Ohio recreational marijuana market off to tepid start, at least in Toledo
Crain’s counted only 49 customers entering Toledo’s only store approved for recreational sales Tuesday.
Former Green Dragon owner sues Eaze on auction day
The lawsuit accuses two shareholders of conspiring to acquire company assets at below-market value.
Curaleaf’s Jordan takes the reins as year-to-date loss tops $100 million
Losses were down year-over-year, both for the quarter and the first six months of the year.
MariMed sales up in the second quarter, expansion costs rise
Management attributed the gains to growth on the wholesale side as guidance stays put.
More earnings:
- Cannabis lender AFC Gamma reports $16.4 million in net income for second quarter
- Aurora tops forecasts on medical sales, posts first-quarter profit
- Ayr Wellness slips in the second quarter with high hopes for Ohio
- Chicago Atlantic sees drop in distributions
- Jushi Holdings trims second-quarter loss as revenue falls
- NewLake reports $6.8 million profit in second quarter, pledges more to come
- Verano misses on flat second-quarter revenue, declines to provide guidance
In Other News
RECALL: Missouri
The Missouri Division of Cannabis Regulation announced a recall on more than 2,000 marijuana products from NGWMO LLC that were sold to dispensaries. Officials say the products were tested at the unprocessed bud/flower stage rather than at the final marijuana product stage required by 19 CSR 100-1.
Flora Growth Corp.
Flora Growth Corp. (NASDAQ: FLGC) (FSE: 7301) will now trade its common shares on the Frankfurt Stock Exchange under the ticker symbol 7301.
Demecann Group
Demecan Group, one of Germany’s largest cannabis producers, recently completed its latest round of funding, bringing its valuation close to 100 million euros ($109.24 million). The funding round was led by Florida-based Trog Hawley Capital, marking the first institutional investment in Demecann by a U.S.-based investor.
