Cannabis Week: New Mexico, Switzerland, Federal Legalization, Afria, Organigram, etc.
Despite some good news in terms of legalization, cannabis stocks fell this week. This was driven primarily by sluggish earnings reports from major Canadian companies. After Governor Michelle Lujan Grisham signed the Cannabis Control Act on Monday, New Mexico has become the latest state to legalize adult cannabis. According to the Marijuana Policy Project, following a wave of legalization led by New York and Virginia, the approval will bring more than 43% of Americans living in legal cannabis jurisdictions to go on sale. Switzerland will officially launch a trial version of the legal recreational cannabis market on May 15. The Swiss Federal Public Health Service said the trial was intended to provide a “scientific basis for future regulation of cannabis.” This makes Switzerland the first country in Europe to allow a legitimate cannabis supply chain for adults. The trial includes 5,000 registered participants who have proved to the federal government that they are already consuming cannabis. Senate leader Chuck Schumer (D-NY) will soon submit a federal cannabis legalization bill. “I’m going to put this bill on the floor soon. It hasn’t been introduced yet,” said Senator Cory Booker (D-NJ) and Senator Ron Wyden, Chairman of the Finance Committee (D), on the draft bill. -OR) explained that he is cooperating. “Once it’s introduced, it goes to the floor.” Benzinga Cannabis content is now available in Spanish on El Planteo. Dara Khosrowshahi, CEO of Uber Technologies Inc. (NYSE: UBER), has revealed that if the factory becomes legal at the federal level, it is ready to include cannabis delivery. “When the cannabis path becomes clear, when federal law comes into force, we’ll definitely consider it,” Kosloshahi said in an interview with CNBC. All ETFs were down. 5 Trading Days of the Week: ETFMG Alternative Harvest ETFs (NYSE: MJ): Down 5.6%. AdvisorShares Pure Cannabis ETF (NYSE: YOLO): 6.6% down. AdvisorShares Pure US Cannabis ETF (NYSE: MSOS): Down 5.55%. Cannabis ETF (NYSE: THCX): Down 9.5%. Amplify Seymour Cannabis ETF (NYSE: CNBS): Down 7.7%. The SPDR S & P 500 ETF Trust (NYSE: SPY) rose 1.31%. Policy, Science and Data According to the State Department, Illinois cannabis tax exceeded liquor tax in the first three months of 2021. This is the first time Prairie has generated more tax revenue from cannabis than alcohol. Marijuana tax revenue for the previous quarter was $ 86,537,000, while revenue from the sale of alcohol was $ 72,281,000. According to headsets, Michigan’s recreational and medical marijuana had March sales of $ 115.4 million. This is double the growth compared to the same period last year. A bipartisan bill to legalize medical cannabis for veterans was reintroduced in Congress on Thursday. A new study conducted by Harvard Medical School and McLean Hospital in Boston suggested that cannabis treatment can significantly help with chronic pain. The study found that people who used medical cannabis daily for 6 months experienced significant advances in overall health: pain and anxiety relief, sleep and mood improvement. Akerna Corp (NASDAQ: KERN) expects national cannabis retail sales to reach $ 95 million on April 20, an informal marijuana holiday. This is due to a new Flash report from a Denver-based company. The report suggests that cannabis sales are expected to reach $ 370 million over the five days leading up to April 20. “That number continues to grow in all aspects of the cannabis industry. This week, New Mexico became the 18th state to legalize adult cannabis. In addition, the 420 vacations totaled $ 370. We’ve got data from Akerna that suggests that it could be. Total sales. Consumers are planning to start buying on Friday and pharmacies are preparing for the biggest weekend of the year. ” Debra Boarchardt, CEO of Green Market Report, told Benzinga. Revenue Report Aphria Inc. (TSX: APHA) (NASDAQ: APHA) announced its financial results for the third quarter and nine months, which ended on February 28. The company generated $ 153.6 million in net sales in the third quarter ($ 122.5 million). This is an increase of 6.4% year-on-year and a continuous decrease of 4.3%. Net sales of cannabis were $ 51.7 million, down 7.8% year-on-year and 23.8% quarter-on-quarter. See more revenue from MJ Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI) Total revenue in the second quarter of 2021 was approximately $ 19.3 million ($ 15.4 million), down 29% year-on-year. Net New Brunswick-based company Moncton said in a statement that sales also fell from C $ 23.2 million to C $ 14.6 million over the same period. “We were plagued by industry dynamics, COVID-19, and facility staffing restrictions,” CEO Greg Engel said in a statement. urban-gro Inc (NASDAQ: UGRO) has announced preliminary results for the first quarter of 2021. Revenues increased 174% year-on-year from $ 11.8 million to $ 12.1 million, up from $ 4.3 million reported in the same quarter last year. Find all the details of these and other revenue reports at the Benzinga Cannabis Revenue Center. Financings And M & A Aphria confirmed on Thursday that shareholders met one of the requirements for a merger with Tilray Inc. (NASDAQ: TLRY) after approving the arrangement at a special meeting. A special resolution approving the arrangement had to be approved by at least two-thirds (66.6%) of the votes cast at the meeting. The merger received an approval rate of 99.38%. The closing of the deal is still awaiting customary conditions such as court approval and Tilray shareholder approval. Cresco Labs (CSE: CL) (OTCQX: CRLBF) has acquired Bluma Wellness Inc. (CSE: BWEL) (OTCQX: BMWLF) for $ 213 million worth of all-stock transactions. Connected International Inc., also known as Connected Cannabis, has raised $ 30 million, led by current investors Navy Capital and One Tower Group, with new investors such as Bryant Park Capital’s affiliates Emerald Park Capital and Presidio View Capital. Did. .. Jushi Holdings Inc. (CSE: JUSH) (OTC: JUSHF) has acquired a 93,000-square-foot facility operated by its subsidiary Dalitso LLC for approximately $ 22 million. Leune announced Thursday that it has raised $ 5 million from celebrity investors such as professional basketball player Carmelo Anthony, his wife and television personality La La Anthony, and sports agent Rich Paul. Good Hemp, Inc. (OTC: GHMP) purchased the Diamond Creek Group, a manufacturer of ionized, highly alkaline hot spring water, at a private price. Cornelius, a producer of North Carolina-based hemp seed oil-injected beverages, said the move was part of a strategic plan to expand consumer reach. Zip Run confirmed on Friday that it had raised $ 2.3 million through a seed funding round led by Mollitiam Capital, a private equity fund launched by Ross Bevevino and Tyson Macdonald. Other News Truss Beverage Co., a joint venture between brewers Molson Coors Beverage (NYSE: TAP) and HEXO Corp. (NYSE: HEXO) (TSX: HEXO), has announced a lineup of six new CBD and THC products. I am. Mint Dispensary marks the rename to Mint Cannabis on 4/20. “As we continue to gain access to high-quality cannabis, it’s appropriate to rename it to better reflect our vision for the future,” said Eivan Shahara, CEO of Brightroot, the parent company of mint cannabis. I told Benzinga. Keef Brands has expanded eastward to three new states: Missouri, Ohio, and Maine. Topical BioMedics announces exclusive partnership and pharmacy distribution agreement with national cannabis and hemp company Aspen, CO-born toast, using its local homeopathic analgesic cream line in more than 40,000 locations nationwide I made it possible. High Herstory, a new historical comedy series at the crossroads of cannabis and feminism, will premiere on April 20th in more than 150 million homes through Social Club TV. Each episode identifies a woman, introduces a cannabis-consuming storyteller, and takes the viewer on an action-packed time journey. Annette Mia Flores, co-founder of High Herstory, told Benzinga: At the same time, High Hurstley Season 2 spotlights women in the cannabis industry, from activists to brands to scientists. This is the history being created. Columbia Care Inc. (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) (FSE: 3LP) launches medicated solid-filled cannabis powder capsules under the Ceed trademark in the United Kingdom. The New York-based company has chosen to expand its product offering with the first solid-filled capsules of this type in the United Kingdom. In addition, it is the first dose-measuring medical cannabis product produced domestically. Executive Moves For the latest executive moves, see TILT, BRNT, ECGI, Alcanna, WeedMD, Mind Cure, The FLowr Corporation, VIVO, Cannabiz, Team Hytiva CanaQuest, Terra Tech, BioSteel, Halo Collective, Rolling Stone Culture Council, Australis FastForward Innovations Top Story of the Week Check out this Top Story of Benzinga Cannabis: CBD-Injected Yerba Mate Maker Milonga Launches K-Cup, Nespresso Pod New Cannabis Product: Jay-Z Manual Winding Joint, Papa & Barkley x El Blunto Cannabis , Cannabis Live Resin Infusion Preroll Chelsea Handler, Her New HBO Max Special, Therapy and Psychedelic: If you invested 000 in cannabis growth stocks a year ago, “I’m a very professional drug” a year ago If you invested 000 in Aurora cannabis stock, this is how much you have now if you invested 000 in Tilray stock a year ago. If you invested 000 in Aphria, how much is this now? Stock a year ago, this is the amount you will have now Video: KushCo CEO explains how the Greenlane merger catapults them to the “next level” Benzinga Cannabis Hour : MassRoots CEO, Dosist CMO Discusses Social Media with Cannabis Top Story in Spain: Cannabis Medicinal: Habla el Intendente de General La Madrid, Primer Municipio Autorizado a Cultivar Moon Rock: Qué Es, Cómose Usay Cómose Hace Cómo Comprar Accionesde Coinbase (COIN) Qué Esun Grinder? Todo sobre los Picadores de Marihuana La Historieta Argentina y la Marihuana Los Mil Monstruos de Mariana Enríquez Cepas de Marihuana: Wedding Cake ¿ Quéesel Peyote? Todo sobre el Cactus dela Mescalina Básicos del Cannabis: ¿ Qué Esel THC? Básicos del Cannabis: ¿ Qué Esun Cogollo? Lead image by Ilona Szentivanyi. Copyright: Benninga. Learn more about Benzinga Click here for options trading at Benzinga The Week In Cannabis: Glass House, Canopy, Curaleaf, Trulieve, Virginia and more © 2021 Benzinga.com. 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