StaffThe 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.
Goodness Growth buoyed by higher retail sales, while New York exit looms
Goodness Growth’s core markets of Maryland and Minnesota saw total retail revenue of $17.8 million.
Ascend’s expansion yields revenue gains, profitability pains
The firm’s also trying to escape the 280E tax provision.
Chicago Atlantic revenue dips slightly in first quarter, but solidly profitable
As of March 31, Chicago Atlantic’s portfolio included 28 loans totaling $401.3 million.
Neptune Wellness insider trading case settled
The company left cannabis in 2023, but continues to suffer the consequences of previous cannabis deals.
In Other News
PRODUCT RECALL: Vermont
Vermont state regulators are recalling all products from Derby-based Holland Cannabis for allegedly selling contaminated marijuana – again. The cultivator was investigated last year for selling pot tainted with the prohibited pesticide Eagle 20.
Cronos Group
Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) is expanding its medical brand, PEACE NATURALS, into the United Kingdom market with its first shipment of cannabis flower to GROW Pharma, a leading distributor of prescribed medicinal cannabis products in the UK.
Leafly Holdings
Leafly Holdings Inc. (NASDAQ: LFLY) announced that Peter Lee will join the company as president and chief operating officer, leading new monetization efforts, operations, and corporate development.
