The Daily Hit: October 15, 2024
News from: BevCanna, Michigan, Avant Brands, Leafly and more.
The Daily Hit is a recap of the top financial news stories for Tuesday, October 15, 2024.
On the Site
BevCanna changes name as it says goodbye to cannabis
The new company will focus on nutraceuticals after its recent acquisition.
Leafly at risk of Nasdaq delisting, plans appeal
The firm faces a minor league demotion, joining other cannabis-related firms in potentially leaving the exchange.
Michigan cannabis sales drop 10% in September
The average price for adult-use products fell 21% from September 2023.
Green Dragon warehouse sells for $11.4M as parent company Eaze preps shutdown
As Eaze winds down operations, the future of its subsidiaries like Green Dragon remains up in the air.
Earnings:
In Other News
Aurora Cannabis
Aurora Cannabis’ $8.05 million settlement with a proposed class of investors who accused it of orchestrating a $21.7 million “round-trip sale” to keep its stock prices high got a U.S. magistrate judge’s initial sign-off along with an order pausing the parties’ dispute while the deal is reviewed.
Happi Co.
Happi Co., a Birmingham-headquartered cannabis-infused drink company, raised $500,000 of a $2 million funding goal, securing it a spot in the top venture capital deals in Southeast Michigan for the third quarter.
New Hampshire
New Hampshire’s Therapeutic Cannabis Program is poised for expansion as the result of three new laws that recently went into effect, including one that allows medical providers to certify patients to use the drug for any debilitating condition or symptom.
