StaffThe Daily Hit is a recap of the top financial news stories for Thursday, June 13, 2024.
On the Site
Canadian edibles maker Indiva receives creditor protection
Existing creditor SNDL is expected to set the auction floor price with a “stalking horse bid” to acquire the edibles maker.
Michigan cannabis sales hold steady in May
Flower remains a top seller in Michigan’s market, accounting for nearly half of all sales in May.
SEC wins $10 million judgment against cannabis stock promoter
The pump-and-dump scheme included a stock promotion website called The Money Street
Ohio adult-use marijuana buyers may initially face higher prices
Prices on marijuana flower are already beginning to increase some at the wholesale level as retailers begin stocking up in anticipation of adult-use sales.
South Dakota plans cannabis business fee hike
License renewal fees will jump nearly 70% to $9,000 for all cannabis operators in the state.
Earnings
- High Tide breaks into the black in second fiscal quarter of the year
- POSaBIT loses $1.9 million in first quarter of 2024
In Other News
New Jersey Cannabis Equity Association
The New Jersey Cannabis Equity Association, a New Jersey nonprofit corporation committed to advancing equity in the Garden State’s cannabis industry, announced its launch, with a mission to assess issues impacting the cannabis industry through the lens of equity, to build consensus among critical stakeholders, and to advance related public policy.
Arkansas Alcoholic Beverage Control Board
The Arkansas Alcoholic Beverage Control Board voted to uphold a May decision revoking the license of Green Springs Medical Dispensary in Hot Springs.
