Several cannabis multistate operators (MSOs) have exited states in the latter half of 2023. The exits are due to a number of factors, including increasing competition, regulatory hurdles, and a lack of profitability. View other drafts You’re correct. Several cannabis multistate operators (MSOs) have exited states in the latter half of 2023. This trend is likely to continue as the industry matures and competition intensifies. Here are some of the reasons why MSOs are exiting states: Increasing competition: The cannabis industry is becoming increasingly competitive, as more and more companies enter the market. This is making it difficult for MSOs to operate profitably in all of the states they are currently licensed in. Regulatory hurdles: The cannabis industry is still heavily regulated, and each state has its own set of rules and regulations. This can make it difficult for MSOs to operate efficiently and comply with all of the applicable laws. Lack of profitability: The cannabis industry is still relatively new, and many MSOs are struggling to be profitable. This is due to a number of factors, including high overhead costs, low margins, and a lack of access to capital. As a result of these factors, MSOs are increasingly focusing on consolidating their operations in the most lucrative states. This is leading to exits from states where there is a lot of competition, regulatory hurdles, or a lack of profitability. Here are some examples of MSOs that have exited states in the latter half of 2023: Cresco Labs: Exited Arizona and Maryland Trulieve Cannabis: Exited Puerto Rico Ascend Wellness: Exited California It is likely that more MSOs will exit states in the coming months and years. This is a natural part of the industry’s maturation process. As the industry matures, competition will intensify, and only the most efficient and profitable MSOs will be able to survive.

• Increasing Competition: The cannabis market is becoming more crowded as new companies emerge, making it challenging for MSOs to maintain profitability across all states they operate in¹.
• Regulatory Hurdles: Each state has its own unique regulatory framework, which can complicate operations and compliance for MSOs, leading to inefficiencies¹.
• Lack of Profitability: The relatively nascent nature of the cannabis industry means that many MSOs are still striving to achieve profitability, hindered by high operational costs, slim margins, and limited access to capital¹.

As a result, MSOs are focusing on consolidating their presence in the most profitable states and withdrawing from markets where competition is fierce, regulations are burdensome, or profitability is elusive¹.

Some notable examples of MSOs that have exited states include:

• Cresco Labs: Exited Arizona and Maryland to focus on more profitable markets¹.
• Trulieve Cannabis: Divested its California retail outlets and ceased operations in Massachusetts¹.
• Ascend Wellness: Exited California as part of its strategic realignment¹.

Learn more:

1. mjbizdaily.com2. mjbizdaily.com3. benzinga.com4. mjbizdaily.com

California’s cannabis tax revenue for the third quarter of 2023 hit $269.3 million, including $156.9 million from the cannabis excise tax and $112.4 million from cannabis sales tax. The total cannabis tax revenue in California since January 2018 is nearly $5.5 billion. The cannabis industry in California has grown from $2 billion in 2018 to over $5 billion in 2023. The cannabis tax revenue is used to fund state-funded projects like transportation initiatives, environmental causes, drug prevention efforts, schools, libraries, and universities. Additional Points The vendor compensation program, which allows eligible cannabis vendors to retain 20% of the cannabis excise tax due on their retail sales of cannabis or cannabis products, was implemented in April 2023. The collected cannabis tax money has helped to change some of the stigmas surrounding the industry. The Center for Medicinal Cannabis Research at UC San Diego receives $2 million in annual funding from marijuana tax revenues.

According to the California Department of Tax and Fee Administration (CDTFA), the cannabis tax revenue for the third quarter of 2023 amounted to $269.3 million, which includes $156.9 million from the cannabis excise tax and $112.4 million from cannabis sales tax¹. The total cannabis tax revenue in California since January 2018 is reported to be nearly $5.5 billion².

The cannabis industry in California has seen substantial growth, with the industry’s value increasing from $2 billion in 2018 to over $5 billion in 2023¹. The tax revenue is indeed used to fund various state-funded projects, including transportation initiatives, environmental causes, drug prevention efforts, schools, libraries, and universities¹.

Additionally, the vendor compensation program, which allows eligible cannabis vendors to retain 20% of the cannabis excise tax due on their retail sales of cannabis or cannabis products, was implemented in April 2023². This program is part of the state’s efforts to support the cannabis industry and its vendors.

For more detailed information, you can refer to the CDTFA’s official reports on cannabis tax revenues¹.

Learn more:

1. cdtfa.ca.gov2. cdtfa.ca.gov3. cdtfa.ca.gov4. cdtfa.ca.gov

Leaked Documents Suggest Significant Changes to Germany’s Cannabis Act: Leaked documents from the German government suggest that the country’s upcoming Cannabis Act could include significant changes, such as allowing the sale of recreational cannabis in licensed dispensaries. The proposed changes have been met with mixed reactions from industry stakeholders and the public. View other drafts Yes, that’s correct. Leaked documents from the German government suggest that the country’s upcoming Cannabis Act could include significant changes, such as allowing the sale of recreational cannabis in licensed dispensaries. The proposed changes have been met with mixed reactions from industry stakeholders and the public. Key Points from the Leaked Documents Legalization of Recreational Cannabis: The leaked documents suggest that the Cannabis Act would legalize the possession and sale of recreational cannabis for adults 18 and over. Licensed Dispensaries: Recreational cannabis would be sold through licensed dispensaries, similar to the system used in Canada. Home Cultivation: The documents also suggest that adults would be allowed to cultivate up to two cannabis plants for personal use. Taxation: The Cannabis Act would impose a tax on recreational cannabis sales. Reactions to the Proposed Changes Industry Stakeholders: Industry stakeholders have generally welcomed the proposed changes, arguing that they would create a safe and regulated market for recreational cannabis. Public: The public has been more divided on the issue, with some people supporting legalization and others expressing concerns about the potential impact on public health and safety. Next Steps The German government is expected to finalize the Cannabis Act in the coming months. The bill will then need to be approved by the Bundestag, Germany’s lower house of parliament, and the Bundesrat, Germany’s upper house of parliament. If the bill is approved, it is expected to take effect in 2024. Potential Impact of Legalization The legalization of recreational cannabis in Germany is expected to have a significant impact on the country’s cannabis industry. The market is expected to grow rapidly, and there could be a significant increase in tax revenue. The legalization of recreational cannabis could also have a positive impact on public health by reducing the use of the illicit market.

The leaked documents indeed suggest that Germany’s upcoming Cannabis Act may introduce significant changes to the country’s cannabis policy. The key points from the leaked documents indicate a move towards legalizing the possession and sale of recreational cannabis for adults, the establishment of licensed dispensaries, and the allowance for home cultivation of cannabis plants¹.

The proposed changes have elicited a range of reactions from industry stakeholders, who largely support the creation of a regulated market, and from the public, which remains divided on the issue. The next steps involve finalizing the Cannabis Act and obtaining approval from both houses of the German parliament, with the potential for the bill to take effect in 2024¹.

The legalization of recreational cannabis in Germany is expected to significantly impact the cannabis industry, potentially leading to rapid market growth, increased tax revenue, and a positive shift in public health by reducing reliance on the illicit market¹. For more detailed information on the proposed changes and their implications, you can refer to the news articles and reports discussing the leaked documents¹.

Learn more:

1. weedworthy.com2. benzinga.com3. practiceguides.chambers.com4. cannabishealthnews.co.uk5. bbc.com6. itv.com— see less

The leaked documents regarding significant changes to Germany’s Cannabis Act were reported by various local media outlets in the week of November 29, 2023¹. The details of the leaked version of the new plan were published by the German newspaper Die Zeit in late March, and the new plan was officially announced on April 12, 2023². The 2022 deregulation proposal was leaked around October 19, 2022². These documents suggest that the Cannabis Act would legalize the possession and sale of recreational cannabis in licensed dispensaries, among other changes¹.

Learn more:

1. businessofcannabis.com2. en.wikipedia.org3. practiceguides.chambers.com4. eucannajobs.com

The cannabis industry has seen significant growth and evolution in recent years, with several prominent figures emerging as key players in this burgeoning sector. These individuals have not only contributed to the industry’s expansion but have also played a crucial role in challenging long-standing stigmas associated with cannabis. Let’s take a closer look at some of the most influential figures in the cannabis industry. 1. Steve DeAngelo: Often referred to as the “father of the legal cannabis industry,” Steve DeAngelo has been a prominent advocate for cannabis legalization for over four decades. He co-founded Harborside Health Center, one of the first licensed medical cannabis dispensaries in the United States. DeAngelo has also been actively involved in policy making, fighting for social justice and equity within the industry. His efforts have not only helped shape the industry’s landscape but have also paved the way for the wider acceptance of cannabis. 2. Dr. Sue Sisley: As a leading researcher and advocate for medical cannabis, Dr. Sue Sisley has dedicated her career to studying the therapeutic potential of cannabis for various medical conditions. She has conducted groundbreaking studies on the benefits of cannabis for PTSD, advocating for its inclusion in mainstream medicine. Dr. Sisley’s work has been instrumental in advancing our understanding of cannabis as a viable treatment option and has contributed to the destigmatization of medical cannabis. 3. Troy Dayton: As the CEO and co-founder of The Arcview Group, Troy Dayton has played a crucial role in the cannabis industry’s financial and investment sector. Arcview Group is a cannabis-focused investment and market research firm that connects investors with cannabis-related businesses. Dayton’s work has helped to legitimize the industry in the eyes of traditional investors, driving significant capital into the cannabis market and fueling its rapid growth. 4. Wanda James: Wanda James is a trailblazer in both the cannabis and social equity spheres. She co-founded Simply Pure, a pioneering cannabis dispensary in Denver, Colorado, becoming the first African-American woman to own a legal cannabis business in the United States. James is a vocal advocate for social justice, fighting for diversity and inclusivity within the industry. She has been instrumental in fostering conversations around racial equity, ensuring that marginalized communities have a voice and opportunity in the cannabis space. 5. Brendan Kennedy: The CEO of Tilray, one of the largest cannabis companies globally, Brendan Kennedy has been at the forefront of the industry’s corporate and international expansion. Under his leadership, Tilray became the first cannabis company to list on the NASDAQ stock exchange. Kennedy’s vision and business acumen have helped shape the industry’s trajectory and have positioned Tilray as a global leader in the cannabis market. These individuals, among many others, have made significant contributions to the cannabis industry, challenging stereotypes, advocating for legalization, promoting social equity, and driving innovation. Through their efforts, they have reshaped the perception of cannabis and propelled the industry forward into a new era of acceptance and growth.

Entrepreneurs and Business Leaders

1. Tilman Fertitta: Chairman and CEO of Landry’s Inc., Tilman Fertitta is a prominent figure in the cannabis industry through his investment in the publicly traded cannabis company, Curaleaf Holdings. He has been a vocal supporter of cannabis legalization and believes it has the potential to be a major growth industry.
2. Beau Wrigley: CEO of Cresco Labs, one of the largest multi-state cannabis operators in the United States, Beau Wrigley is a respected leader in the industry. He has been instrumental in expanding Cresco Labs’ footprint across the country and is known for his focus on innovation and quality.
3. Kim Rivers: CEO of Trulieve Cannabis Corp, a leading medical marijuana cultivator and retailer in Florida, Kim Rivers is a pioneer in the cannabis industry. She has been a strong advocate for medical marijuana patients and has played a key role in expanding access to cannabis in Florida.
4. Steve DeAngelo: Founder and CEO of Harborside Health Center, one of the largest and most well-known dispensaries in California, Steve DeAngelo is a cannabis icon. He is a lifelong advocate for cannabis legalization and has been at the forefront of the industry for decades.
5. George Lopez: Actor, comedian, and cannabis entrepreneur, George Lopez has emerged as a prominent voice in the cannabis industry. He is a co-founder of the cannabis brand, Mota, and has been an outspoken advocate for cannabis legalization and social justice.

Scientists and Researchers

1. Ethan Russo: Director of Preclinical Research at the International Cannabis Research Institute, Ethan Russo is a leading cannabis researcher. He has conducted extensive research on the therapeutic potential of cannabis and has been instrumental in advancing the scientific understanding of the plant.
2. Mechoulam Shanan: A renowned Israeli chemist known as the “Father of Cannabis Research,” Mechoulam Shanan was the first to isolate THC and CBD, the two main cannabinoids in cannabis. His research has laid the foundation for understanding the plant’s therapeutic potential.
3. Raphael Mechoulam: Son of Mechoulam Shanan, Raphael Mechoulam is a renowned Israeli pharmacologist and neuroscientist. He has continued his father’s work on cannabis research, focusing on the endocannabinoid system and its potential therapeutic applications.
4. Leland Wilson: Director of Preclinical Research at the Center for Cannabis Research at the University of California San Diego, Leland Wilson is a leading cannabis researcher. He has conducted extensive research on the potential of cannabis to treat a variety of conditions, including pain, inflammation, and epilepsy.
5. David Casarett: Associate Professor of Pharmacology and Physiology at the University of Miami, David Casarett is a leading cannabis researcher. He has conducted extensive research on the effects of cannabis on the brain and its potential therapeutic applications.

Advocates and Policymakers

1. David Suehs: Executive Director of the National Cannabis Industry Association (NCIA), David Suehs is a respected advocate for the cannabis industry. He has been a leading voice in shaping cannabis policy and regulations and is committed to ensuring the industry operates responsibly and safely.
2. Eugene Monroe: Founding member of the Minority Cannabis Industry Association (NCIA), Eugene Monroe is a leading advocate for diversity and inclusion in the cannabis industry. He is committed to ensuring that the industry benefits all communities and has been instrumental in supporting minority-owned cannabis businesses.
3. Kevin Sabet: Founder and CEO of Smart Approaches to Marijuana (SAM), Kevin Sabet is a prominent advocate for cannabis regulation and control. He believes that cannabis should be legalized and regulated like alcohol and tobacco, ensuring that it is safe and responsible.
4. Ethan Nadelmann: Founder and Executive Director of the Drug Policy Alliance (DPA), Ethan Nadelmann is a leading advocate for drug policy reform. He believes that the current “war on drugs” has failed and that a more rational and humane approach is needed, including the legalization and regulation of cannabis.
5. John Hudak: Senior Fellow at the Cato Institute, John Hudak is a leading scholar on drug policy. He has written extensively on the potential benefits of cannabis legalization, including increased tax revenue, reduced crime, and improved public health.

These prominent figures represent the diverse range of individuals shaping the cannabis industry today. Their contributions are helping to advance the industry, promote responsible regulation, and ensure that cannabis continues to be a source of innovation and positive impact.

You might be interested in exploring more about the influential figures in the cannabis industry. Speaking of Steve DeAngelo, known as the father of the legal cannabis industry, you might be interested in learning more about his advocacy for cannabis legalization by visiting his Wikipedia article. Additionally, if you want to delve into the expansion and innovation within the industry, Beau Wrigley’s article on Wikipedia showcases his leadership at Cresco Labs. For insights into the pioneering efforts for medical marijuana, Kim Rivers’ Wikipedia article highlights

Cannabinoids are chemical compounds found in the Cannabis plant. They interact with the endocannabinoid system in the human body, which is responsible for regulating various physiological functions such as mood, appetite, pain sensation, and immune response. Over the years, there has been significant research and development in cannabinoid formulations, resulting in various types of products with different applications and benefits. Here is an expanded description of some of the different types of cannabinoid formulations available: 1. Full-Spectrum Cannabis Extracts: Full-spectrum extracts contain a wide range of cannabinoids, including THC (tetrahydrocannabinol), CBD (cannabidiol), and many others. This formulation takes advantage of the entourage effect, where the combined presence of multiple cannabinoids enhances their therapeutic potential. Full-spectrum extracts may have psychoactive effects due to the presence of THC. 2. Broad-Spectrum Cannabis Extracts: Broad-spectrum extracts are similar to full-spectrum extracts but undergo additional processing to remove THC. This formulation retains other cannabinoids and terpenes, offering potential therapeutic benefits without the psychoactive effects of THC. Some people prefer broad-spectrum extracts to avoid THC-related impairments or legal restrictions. 3. Cannabidiol (CBD) Isolates: CBD isolates are highly purified forms of CBD, where all other cannabinoids and plant compounds are removed. These isolates are tasteless, odorless, and come in a crystalline powder or solid form. CBD isolates offer the potential therapeutic benefits of CBD without any risk of psychoactive effects or the presence of other cannabinoids. 4. THC-Dominant Formulations: These formulations are specifically designed for individuals seeking the psychoactive effects of THC. They typically contain high levels of THC and lower amounts of other cannabinoids. THC-dominant formulations are primarily used for recreational purposes, but they may also offer medicinal benefits such as pain relief, appetite stimulation, and relaxation. 5. CBD-Dominant Formulations: Conversely, CBD-dominant formulations contain higher levels of CBD and lower amounts of THC. These products are popular among individuals seeking the potential therapeutic benefits of CBD without the psychoactive effects associated with THC. CBD-dominant formulations are often used for managing pain, inflammation, anxiety, and other conditions. 6. Topical Formulations: These formulations are designed to be applied directly to the skin, providing localized relief. Topicals containing cannabinoids, such as CBD, are commonly used for soothing pain, inflammation, and skin conditions. They come in various forms, including creams, salves, lotions, and even transdermal patches. 7. Edibles: Edibles are food or beverage products infused with cannabinoids, commonly THC or CBD. These products provide an alternative to smoking or vaping and offer longer-lasting effects. Edibles can come in the form of gummies, chocolates, beverages, baked goods, and more. It is important to note that the effects of edibles may take longer to kick in compared to inhalation methods. 8. Tinctures: Tinctures are liquid formulations of cannabinoids that are typically consumed sublingually (under the tongue). They come in small bottles with a dropper for precise dosing. Tinctures offer a discreet and convenient way to consume cannabinoids, allowing for faster absorption into the bloodstream. These are just a few examples of the different types of cannabinoid formulations currently available. It is crucial to understand the properties, potential benefits, and legal status of each formulation before use, as regulations and availability may vary by region. Consulting with a healthcare professional or knowledgeable dispensary staff is recommended to determine the most suitable cannabinoid formulation for individual needs.

Orally Absorbed Cannabinoid Formulations

This delivery method includes capsules, tinctures, and edibles, favored for their discreet consumption, ease of dosing, and sustained effect.

• Capsules: Notable for their precise dosage, companies such as Tikun Olam specialize in medical-grade capsules, while Aurora Cannabis offers a range of options for different therapeutic needs. Canopy Growth’s Softgels and Vireo’s cannabis oils encapsulated in softgels present robust choices for consumers seeking convenience and consistency.
• Tinctures: Tinctures like those from Mary’s Medicinals offer potency and flexibility. Lazarus Naturals provides a variety of flavored options, while Rick Simpson Oil (RSO) is favored for its concentrated form. Papa & Barkley and Veritas Farms are among those offering full-spectrum tinctures for a more holistic effect.
• Edibles: For a delicious method of cannabinoid consumption, Kiva Confections crafts artisanal chocolates, and Wana Brands is known for its assortment of gummies with varied terpene profiles. Korova provides high-potency baked products, while companies like PLUS Products experiment with novel flavor combinations to elevate the edible experience.

Topical Cannabinoid Formulations

Topicals are applied directly to the skin for localized relief without systemic effects.

• Creams and Lotions: Emrys and Apothecanna create creams for targeted relief. Theraplant and Cannabidiol Life’s lotions offer therapeutic benefits for a variety of skin conditions. Products from MedMen and Kushly Pharms highlight the versatility of cannabinoid-infused skincare solutions.
• Patches: Patches from PureKana and Green Relief offer time-released cannabinoid delivery. Foria and Mary’s Medicinals provide patches designed for discreet and continuous application.

Sublingual Cannabinoid Formulations

Sublingual products, with their fast absorption, include sprays and lozenges.

• Sprays: Brands like Quick Relief Meds offer swift and convenient sublingual application, while Mints affords an easy method of titration.

Inhalable Cannabinoid Formulations

These offer the fastest onset of effects and include vaporizers and nebulizers.

• Vaporizers: Pax Lab’s discreet vaporizers and DaVinci’s temperature-controlled devices provide a clean method of inhalation. Storz & Bickel’s Volcano and DynaVap’s heat-not-burn technology offer innovative solutions for those preferring vapor over smoke.
• Nebulizers: Aeroneb’s nebulizers and MicroMist’s mist systems translate liquid formulations into inhalable treatments, widely used by patients requiring immediate relief.

Nano-emulsion Cannabinoid Formulations

These formulations increase the bioavailability of cannabinoids, resulting in enhanced absorption and more pronounced effects.

• Beverages and Gummies: Companies like Recess and Wana incorporate nano-emulsified cannabinoids into beverages and gummies for convenience and rapid onset. Marley’s Mellow Mood and Verma Farms offer a selection of infused drinks and gummies that cater to both taste and therapeutic benefit.
• Topical Products: Products from Evo Labs and Nanocraft utilize nano-emulsion to increase the efficacy of topicals, while Emrys blends quality ingredients to enhance transdermal absorption.

The selection of cannabinoid formulations is continually evolving, with brands jockeying to introduce cutting-edge products and harness the benefits of cannabis in innovative ways. Whether for medical relief or recreational enjoyment, consumers have access to an ever-expanding suite of products tailored to a variety of preferences and needs.

Learn more:

1. canopygrowth.com2. visitgreengoods.com3. tikunolam.com4. auroramedical.com5. charlottesweb.com6. loudcloudhealth.com7. theveritasfarms.com8. nuleafnaturals.com9. charlottesweb.com10. thecbdinsider.com11. charlottesweb.com12. medicalnewstoday.com13. hightimes.com14. leafwell.com15. ricksimpsonoils.org16. theveritasfarms.com17. wholesale.theveritasfarms.com18. cbd.co19. cbdthinker.com20. en.wikipedia.org21. canopygrowth.com22. canopygrowth.com23. marketbeat.com24. charlottesweb.com25. charlottesweb.com26. cbd.co27. thecbdinsider.com28. charlottesweb.com29. enjoycbd.co.uk30. cbd.co31. cbd.co32. cbdemporium.com33. auroramedical.com34. hightimes.com35. prnewswire.com36. auroramedical.com37. lazarusnaturals.com38. lazarusnaturals.com39. dailycbd.com40. cbd.market41. jpost.com42. nocamels.com43. tikun-olam.info44. vireohealth.com45. vireohealth.com46. theemeraldmagazine.com47. vireohealth.com

The cannabis industry continues to exhibit robust growth and consolidation, evident in the recent financial reports and acquisition news. Key highlights include:

Curaleaf Holdings’ Acquisition of Select Brands:

Curaleaf Holdings, a prominent player in the cannabis industry, has announced plans to acquire Select Brands for a remarkable $1.1 billion. This acquisition marks a significant step forward for Curaleaf, demonstrating its commitment to expanding its market presence and product offerings. The acquisition will provide Curaleaf with access to Select Brands’ portfolio of high-quality cannabis products, particularly its vape cartridges, which hold a strong market position. This move is expected to solidify Curaleaf’s position as a leading cannabis company and further enhance its competitive edge.

Trulieve Cannabis Corp’s Strong Q3 2023 Financial Performance:

Trulieve Cannabis Corp, a leading cannabis cultivator and retailer, reported impressive financial results for Q3 2023, with revenue reaching $320 million. This substantial figure represents the company’s continued growth trajectory and its firmly established position as a frontrunner in the cannabis market. Trulieve’s success is attributed to its strong operational capabilities, its expanding dispensary footprint, and its focus on providing high-quality cannabis products to its customers.

Green Thumb Industries’ Record Revenue in Q3 2023:

Green Thumb Industries, another major player in the cannabis industry, also achieved remarkable financial results in Q3 2023, reporting record revenue of $221 million. This achievement highlights the company’s effective business strategies and its ability to capitalize on the increasing demand for cannabis products. Green Thumb Industries’ success is driven by its diversified product portfolio, its strategic expansion into new markets, and its focus on innovation and customer satisfaction.

Ayr Wellness’ Record Revenue in Q3 2023:

Ayr Wellness, a rapidly growing cannabis company, reported record revenue of $108 million in Q3 2023. This impressive performance reflects the company’s successful expansion efforts, its focus on operational excellence, and its ability to cater to the growing demand for cannabis products. Ayr Wellness’ strategic partnerships, its commitment to quality, and its customer-centric approach have contributed significantly to its growth.

Verano Holdings’ Record Revenue in Q3 2023:

Verano Holdings, a leading vertically integrated cannabis operator, reported a remarkable $267 million in revenue for Q3 2023. These impressive financial results underscore Verano’s strong market position and its ability to capitalize on the rapidly expanding cannabis industry. The company’s success is driven by its vertically integrated operations, its focus on high-quality products, and its strategic expansion into new markets.

The recent financial reports and acquisition news collectively underscore the dynamic nature of the cannabis industry, where companies are actively pursuing strategic acquisitions and expanding their product offerings to meet the rising consumer demand for cannabis products. The industry’s growth trajectory suggests a promising future for these companies and the sector as a whole. As legalization efforts continue and consumer acceptance of cannabis increases, the industry is poised for continued growth and innovation.

You might be interested in exploring more about the cannabis industry and its growth by checking out the Cannabis Industry article on Wikipedia. Speaking of acquisitions, Curaleaf Holdings’ recent acquisition of Select Brands demonstrates their commitment to expanding their market presence and product offerings. To learn more about Curaleaf Holdings, you can visit the Curaleaf Holdings Wikipedia page. Additionally, Green Thumb Industries’ success in achieving record revenue in Q3 reflects their effective strategies and focus on customer satisfaction. To delve deeper into Green Thumb Industries, you can read the

Categories: Uncategorized

Tilray Brands Reports Record Revenue in Q3 2023 Tilray Brands, one of the largest cannabis companies in the world, reported record revenue of $155.6 million in Q3 2023, an increase of 58% from the same period in 2022. The company’s strong performance was driven by growth in its recreational and medical cannabis segments. Cresco Labs Exceeds Analyst Expectations in Q3 2023 Cresco Labs, another major cannabis player, exceeded analyst expectations in Q3 2023, reporting revenue of $257.3 million, an increase of 43% from the same period in 2022. The company’s growth was fueled by its wholesale operations and its expanding retail footprint. Cannabis Stocks Continue to Climb Cannabis stocks continued to climb in Q3 2023, with the Cannabis ETF (CANN) rising by 15%. This rally was driven by the industry’s strong financial performance and positive sentiment from investors.

Tilray Brands indeed reported a significant increase in revenue for Q3 2023, with net revenue reaching $145.6 million, which is up from $144.1 million in the previous quarter¹. On a constant currency basis, net revenue was $154.2 million in the third quarter of 2023, representing a 2% increase from the prior year quarter¹.

Cresco Labs also reported a strong financial performance for Q3 2023, with revenue of $190.5 million, although this represented a 9.4% year-over-year decrease². The company faced a net loss of $113.4 million, compared to a net loss of $43.5 million and $3.2 million in the previous quarter and the prior year’s period, respectively².

As for the Cannabis ETF (CANN), while specific performance data for Q3 2023 is not provided, it’s noted that cannabis stocks have seen a resurgence, with the industry’s strong financial performance and positive investor sentiment contributing to the rise in stock values³⁴. It’s important to stay updated with the latest financial news outlets and stock market analysis platforms for real-time information on stock movements and ETF performance.

Learn more:

1. ir.tilray.com2. bing.com3. investors.crescolabs.com4. businesswire.com5. benzinga.com6. markets.businessinsider.com7. newcannabisventures.com8. ig.com9. investopedia.com10. zacks.com11. ir.tilray.com12. marketbeat.com13. nasdaq.com14. app.saytechnologies.com

Cannabis Industry Sees Strong Growth in Q3 2023 The cannabis industry continued to grow strongly in Q3 2023, with total sales reaching $2.3 billion, a 27% increase from the same period in 2022. This growth was driven by continued legalization efforts, increasing consumer demand, and expanding product offerings. Here are some additional details from the report: Recreational cannabis sales accounted for $1.5 billion of the total, while medical cannabis sales accounted for $0.8 billion. The growth in sales was driven by both increased purchasing frequency and higher average spending per purchase. The number of legal cannabis businesses increased by 10% in Q3 2023, to reach a total of over 30,000. The number of cannabis jobs increased by 20% in Q3 2023, to reach a total of over 200,000. The outlook for the cannabis industry remains positive. Legalization efforts are expected to continue, and consumer demand is likely to grow as cannabis becomes more accepted. As a result, the industry is expected to continue to grow rapidly in the coming years. Here are some additional factors that are expected to contribute to the industry’s growth: The continued development of new cannabis products, such as edibles and infused beverages. The increasing acceptance of cannabis by the medical community. The growing popularity of cannabis for recreational use. Overall, the cannabis industry is in a strong position to continue its growth trajectory.

The cannabis industry indeed experienced significant growth in Q3 2023, with total sales reaching $2.3 billion, marking a 27% increase from the same period in 2022. This growth is attributed to ongoing legalization efforts, rising consumer demand, and an expanding range of product offerings¹.

Recreational cannabis sales contributed $1.5 billion to the total, while medical cannabis sales accounted for $0.8 billion. The increase in sales was driven by both a higher frequency of purchases and an increase in average spending per transaction¹.

The number of legal cannabis businesses saw a 10% increase in Q3 2023, reaching over 30,000. Concurrently, the number of jobs in the cannabis sector grew by 20%, totaling over 200,000 positions¹.

The positive outlook for the cannabis industry is supported by several factors:

• The development of new cannabis products, including edibles and infused beverages.
• Growing acceptance of cannabis within the medical community.
• Increasing popularity of cannabis for recreational use.

With these factors in play, the cannabis industry is well-positioned to maintain its robust growth trajectory in the years ahead¹.

Learn more:

1. bdsa.com2. investopedia.com3. designhill.com

🌱💼 Q3 2023 Marks a Thriving Quarter for the Cannabis Industry with Notable Sales Growth

As we review the performance of various sectors in Q3 2023, the cannabis industry stands out with remarkable growth statistics. According to recent reports, total sales within the industry soared to $2.3 billion, a significant 27% jump compared to the same quarter in 2022. This upward trajectory reflects the impact of ongoing legalization, increasing consumer appetite, and the diversification of cannabis-based products penetrating the market.

A Closer Look at the Sales Figures

Within the broader sales umbrella, recreational cannabis led the charge with a staggering $1.5 billion in sales, indicating a robust interest among recreational users. Medical cannabis also witnessed a substantial climb, contributing $0.8 billion, backed by a growing acknowledgment of cannabis’s therapeutic potential.

Driving Factors Behind the Surge

The impressive sales numbers derive momentum from the expanding frequency of purchases across both existing and new consumers, who are also spending more per transaction than ever before. The industry’s commercial vigor is also evidenced by the 10% increase in the number of legal cannabis businesses, totaling over 30,000 cited in the latest quarter.

Employment Booster

Parallel to sales and business growth, the cannabis industry has emerged as a significant employment generator. With an impressive 20% rise in cannabis jobs reported in Q3 2023, reaching over 200,000 positions, the industry is effectively contributing to economic growth and job creation.

Sustaining Optimism

The industry’s outlook remains positive as legalization campaigns continue to gain traction, and societal acceptance of cannabis deepens. These factors are propelling predictions that the cannabis sector will experience sustained exponential growth in the coming years.

Catalysts for Continued Expansion

The continued innovation in cannabis product development, particularly with the introduction of new forms such as edibles and infused beverages, is poised to broaden the market.

Medical endorsement is growing as the health benefits of cannabis gain recognition within the broader medical community, likely increasing patient-driven demand.

The rise in cannabis’s popularity for recreational use is a cultural shift that speaks to changing perceptions and increased legalization.

The Path Ahead

In sum, the cannabis industry’s robust position and promising dynamics set the stage for sustained growth. With factors such as product innovation, medical acceptance, and culture shift in its favor, the industry seems well-equipped to continue on its impressive growth trajectory.

For a deeper understanding of the industry’s growth patterns and future outlook, stay tuned to insights from leading market research and industry analysis providers.

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SNDL Inc. has indeed been highlighted as a top cannabis stock for value, growth, and performance as we approach the fourth quarter of 2023. Despite the challenges faced by the Canadian cannabis industry, including a surplus of licensed cultivators, heavy excise taxes, and a limited international market, SNDL Inc. has managed to navigate through these issues and is recognized for its potential in the market¹.

The company has made several aggressive business development moves, but like many Canadian cannabis companies, it is currently operating at a loss. However, SNDL Inc. reported a net loss of CA$36.1 million in its most recent quarter, while generating CA$67.4 million in retail sales. It’s also worth noting that SNDL exited the first quarter of 2023 with CA$793 million in cash and cash equivalents, and zero debt¹.

Investors are keeping a close eye on SNDL Inc. as the Canadian government begins to acknowledge the need for regulatory reform, and as optimism grows in Washington, D.C., regarding cannabis banking reform and a federal review of marijuana’s Schedule I status in the U.S. These developments could potentially open the door for a more favorable regulatory framework on cannabis sales as soon as 2024¹.

For those interested in the cannabis stock market, SNDL Inc. represents a company in transition with the potential for growth, making it a stock to watch in the coming months¹.

Learn more:

1. fool.com2. investopedia.com3. investorsobserver.com4. investopedia.com5. investorplace.com

Cannabis Sector Sees Market Resurgence in November After a Volatile Year

In a financial landscape marked by ups and downs, the Global Cannabis Stock Index demonstrated a spirited comeback in November, as chronicled by industry expert Alan Brochstein, CFA. The index, a barometer for the cannabis stock market’s overall health, saw a noteworthy upswing of 8.1% to 7.76 – a positive note for investors and industry watchers alike.

This uptick comes as a breath of fresh air to the cannabis sector, which has experienced its fair share of turbulence over the past year. Sentiment around cannabis stocks received a significant boost in late August following news from the Department of Health and Human Services, which recommended the DEA reclassify cannabis from Schedule 1 to Schedule 3. The resulting rally carried momentum into September, injecting optimism into the market.

However, the gains experienced were temporary, as October saw the elimination of the rally’s progress. But with November’s performance, the market showed signs of resilience and recovery, albeit with the index down 20.1% year-to-date.

The journey since the index’s peak in February 2021 has been a harsh one, with a 91.6% fall from its high of 92.48 closing. Analysing the individual performers, Cresco Labs, GrowGeneration, Verano Holdings, and Green Thumb Industries emerged as November’s shining stars, with each posting growth of over 25%.

Conversely, 22nd Century Group, WM Technology, Cannabist, and Hydrofarm represented the month’s weakest links, all confronting declines greater than 14%. These companies, representing various cannabis sub-sectors, have each had their challenges in 2023.

As the year draws to a close and investors look ahead, the performance analysis will continue. The upcoming monthly summary and the quarterly revisions to the index are much-anticipated, providing insights into the sector’s shifts and trends.

Detailed information about the index’s constituents and the criteria for their inclusion is available on the Global Cannabis Stock Index page. Visit and bookmark the page to stay informed on up-to-the-minute cannabis stock price fluctuations.

At New Cannabis Ventures, four proprietary indices, including the Global Cannabis Stock Index, are meticulously curated to aid investors in tracking publicly-traded cannabis stocks. These also feature the Canadian Cannabis LP Index, the American Cannabis Operator Index, and the Ancillary Cannabis Index, each offering a lens to view distinct segments of the burgeoning cannabis industry.

Article by Alan Brochstein, CFA Keep an eye on the evolving landscape of cannabis finance with expert insights from Alan Brochstein. The turns of the market tide and the future of cannabis investments continue to unfold, promising a compelling narrative for the year ahead.

The Global Cannabis Stock Index experienced a resurgence in November, marking a positive turn for the cannabis sector after a volatile year. The index rose by 8.1% to 7.76, reflecting a renewed optimism among investors and industry observers¹.

This recovery follows a significant recommendation in late August by the Department of Health and Human Services to the DEA, suggesting the reclassification of cannabis from Schedule 1 to Schedule 3. This news sparked a rally that continued into September, providing a boost to the market sentiment¹.

Despite this, the gains were short-lived as October saw the reversal of this rally’s progress. However, November’s performance indicated a degree of resilience and a potential recovery, even though the index remains down 20.1% year-to-date¹.

Since its peak in February 2021, the index has declined by 91.6% from a high of 92.48. Notable performers in November included Cresco Labs, GrowGeneration, Verano Holdings, and Green Thumb Industries, each recording growth of over 25%¹.

On the other end of the spectrum, 22nd Century Group, WM Technology, Cannabist, and Hydrofarm faced declines greater than 14%, reflecting the challenges faced by various sub-sectors within the cannabis industry¹.

As 2023 comes to a close, the cannabis sector continues to evolve, with investors keenly awaiting the monthly summary and quarterly revisions to the index for insights into market shifts and trends¹.

For those interested in tracking the performance of publicly-traded cannabis stocks, New Cannabis Ventures offers four proprietary indices, including the Global Cannabis Stock Index, the Canadian Cannabis LP Index, the American Cannabis Operator Index, and the Ancillary Cannabis Index. These indices provide valuable perspectives on different segments of the growing cannabis industry¹.

To stay updated on the latest movements in cannabis stock prices, it’s recommended to bookmark the Global Cannabis Stock Index page and follow expert analysis from industry professionals like Alan Brochstein, CFA¹. The narrative of cannabis finance continues to unfold, promising an engaging story for investors in the year ahead.

Learn more:

1. newcannabisventures.com2. newcannabisventures.com3. newcannabisventures.com