Welcome to “Cannabis News Today,” a summary of the cannabis industry’s stock and regulatory updates.
Don Murphy on Cannabis Legislation and GOP Views
Don Murphy, founder of the American Cannabis Collective, shared insights on the evolving dynamics of cannabis legislation during the Republican National Convention. Contrary to popular belief, Murphy noted that Republicans are increasingly open to discussing cannabis issues, signaling a cultural shift within the party. Please read all about it on the TDR Website!
Major Illegal Cannabis Bust in NYC’s Throgs Neck Area
A significant illegal cannabis bust in New York City’s Throgs Neck area resulted in the seizure of $1 million in unlicensed products, highlighting the city’s commitment to enforcing cannabis regulations. Part of “Operation Padlock to Protect,” the raid involved NYC’s Sheriff’s Joint Compliance Taskforce, NYPD, and the NYC Sheriff’s Office. Please read all about it on the TDR Website!
Andy Beshear Supports Medical Marijuana Rescheduling to Schedule III
Kentucky Governor Andy Beshear advocates for rescheduling medical marijuana to Schedule III, aligning with the U.S. Department of Health and Human Services’ recommendation. This change would acknowledge its medical benefits, provide a safer alternative to opioids, and support the newly established Kentucky Medical Cannabis Program. Please read all about it on the TDR Website!
Ranking and Understanding Valuation Metrics of US MSO Cannabis Companies – EV/Revenue
the article explores the use of EV/Revenue as a key valuation metric for multi-state operators (MSOs) in the cannabis industry. This metric compares enterprise value (market capitalization, debt, and cash) to revenue, helping investors determine how much they are paying for each dollar of revenue. The article explains that a lower EV/Revenue ratio might indicate undervaluation, while a higher ratio could suggest overvaluation. Please read all about it on the TDR Website!
Cannabis Worth £2.4M Found at Former Bed Factory
West Yorkshire Police discovered thousands of cannabis plants valued at £2.4 million at a former bed factory in Gomersal. The operation led to the seizure of 4,000 plants, several vehicles including a Lamborghini, and the arrest of nine men, eight of whom have been charged with production of class B drugs.
Manitoba Harvest and Brightseed Launch New Hemp Flavors
Manitoba Harvest Hemp Foods and Brightseed have introduced new coffee and chocolate flavors in their organic bioactive fiber supplement. These additions aim to enhance gut health with appealing new options.
PharmaCielo Update on Reinstatement for Trading
PharmaCielo Ltd. (TSXV: PCLO, OTC Pink: PCLOF) has provided an update on its efforts to reinstate trading on major stock exchanges. The company is actively working to meet regulatory requirements and resume trading activities.
Vext Secures Dual-Use Provisional Licenses in Ohio
Vext Science, Inc. (CSE: VEXT, OTCQX: VEXTF) has secured dual-use provisional licenses in Ohio, moving closer to launching adult-use cannabis sales. This milestone is a significant step in expanding their market presence in the state.
New Federal Act Protects Job Applicants’ Past Cannabis Use
The “Doobie Act” has been introduced to protect federal job applicants from being discriminated against due to past cannabis use. This act aims to ensure fair employment opportunities for individuals with a history of cannabis consumption.
Nevada Leaders Plan Pop-Up Cannabis Lounges in Las Vegas
Nevada leaders are exploring the launch of pop-up cannabis lounges in Las Vegas. These temporary establishments aim to provide safe and regulated spaces for cannabis consumption.
ScottsMiracle-Gro Addresses Investor Concerns
The Scotts Miracle-Gro Company (NYSE: SMG) has detailed its operating and financial strategies to address investor worries. The company aims to reassure stakeholders by highlighting its plans for sustained growth and profitability.
Final Bell Holdings International Closes First Tranche of Note Financing
Final Bell Holdings International has announced the revocation of a cease-trade order and the closing of the first tranche of a $12,000,000 note financing. This move is expected to bolster the company’s financial stability and support future growth initiatives.
Read more cannabis news on the TDR Website!
