StaffThe Daily Hit is a recap of the top financial news stories for Wednesday, November 13, 2024.
On the Site
Agrify enters hemp sector with all-stock acquisition of Double or Nothing
Señorita hemp-derived THC beverages are currently sold in Canada and nine U.S. states.
Blüm Holdings reports $3M loss in Q3 as subsidiary Unrivaled declares bankruptcy
The company blamed the bankruptcy filing on “bitter activist litigation.”
Missouri appeals court strikes down stacked county taxes on dispensaries
The court held that “local government” refers to either a city in incorporated areas or a county in unincorporated areas – but not both.
Arizona cannabis sales continue downward trajectory, falling another 10% in in September
Total monthly cannabis sales for the state have fallen 26% since March.
Earnings:
- AFC’s third-quarter profit plunges 91% as cannabis borrowers struggle
- Atai posts $26M loss, but progresses on psychedelic clinical trials
- Ayr Wellness misses estimates on rising competition
- Flora Growth third-quarter revenue declines while expenses rise
- Glass House loses $3M in third quarter, but could get it all back with tax savings
- iAnthus sees revenue decline as the company sells off assets
- Leef Brands posts mixed third quarter results amid transition away from cannabis CPG
In Other News
CBD Life Sciences
CBD Life Sciences Inc. applied for a beer and liquor license, paving the way for its entry into the CBD-infused wine market. This groundbreaking initiative is set to diversify the company’s offerings and tap into one of the fastest-growing segments in the cannabis and alcohol industries.
Vermont
Vermont cannabis regulators established packaging accommodations “to provide some relief” for the cannabis manufacturing industry. Four new bag options and six new lid options can be seen at ccb.vermont.gov/compliantpackaging.
