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News from: Tilt Holdings, Agrify, Massachusetts, Dan Bilzerian and more.
The Daily Hit is a recap of the top financial news stories for Thursday, November 14, 2024.
On the Site
Tilt Holdings to review strategic alternatives for its plant-touching business
Revenue fell in the quarter due to shipping delays for its Jupiter brand.
Bilzerian v. Bilzerian: Son sues dad over control of Ignite
Dan Bilzerian claims he was unlawfully pushed out of Ignite by his father.
Scores of cannabis farmers sue New York state over botched recreational rollout
The coalition claims that the Office of Cannabis Managementās actions directly led to āfinancial ruinā for its members.
Massachusetts regulators, OSHA say ground cannabis dust a āhazardous chemicalā following Trulieve worker death
Regulators outlined recommendations and rules related to creating a safe working environment for those working with cannabis.
Agrify reports $18.7M loss as leadership charts hemp beverage push
The focus on hemp-based drinks marks a new era for the firm under its new GTI leadership.
Earnings:
- 4Front posts $6M loss in third quarter as competition heats up
- C21 defies Nevada cannabis slump with 14% sales jump, margin gains
- Charlotteās Web narrows losses in third quarter despite lower revenue
- CV Sciences third-quarter revenue dips as B2B sales slump
- Cybin posts second-quarter loss widens as clinical trials advance
- GH Research reports deeper losses as DMT clinical trial costs mount
- Gold Flora losses continue to mount, even as revenue ticks up
- Grown Rogue revenue climbs 7% as New Jersey launch looms
- IM Cannabis reports increase in German revenue, but decrease in Israeli
- MediPharm Labs revenue falls from the second quarter
- NewLake posts higher third-quarter revenue, maintains dividend
- Rubicon Organics reports big revenue increase in third quarter
In Other News
New Mexico
New Mexico lawmakers on Wednesday discussed the prospect of giving āpolice powerā to the state Cannabis Control Division, which issues permits for the state-legal industry, to ramp up enforcement against the still-thriving illicit market.
Missouri
In less than two years of selling legal recreational cannabis, Missouriās legal market has grown to $1.4 billion ā outperforming states with a longer history of marijuana legalization like Arizona, Colorado and Nevada.
Idaho
The organization Kind Idaho filed a final proposal with the Idaho Secretary of Stateās Office that would put the question of cannabis legalization on the ballot in 2026. The petition, if approved, put the question of legalizing cannabis for personal possession and production in front of voters. It would not, however, establish a legal marketplace like the one in Washington state.
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