The Daily Hit: November 19, 2024
The Daily Hit is a recap of the top financial news stories for Tuesday, November 19, 2024.
On the Site
Weedmaps executives face another lawsuit over inflated metrics
This latest lawsuit accuses certain board members and executives of failing in their fiduciary duties.
US Senate Ag Committee Chair introduces new farm bill
The draft language suggests intoxicating hemp products would not be allowed.
JuicyFields global fraud scheme heats up, with Russian crime ring role revealed
International probe reveals Russian operatives, murder plots and forged nobility in “e-growing” scheme.
Fluresh to close Michigan cannabis grow facility, lay off 46
Cannabis prices in the state have plummeted to $73.99 per pound, well below what the company said it needed for the facility.
Minnesota culls social equity applications in advance of December license lottery
Regulators said that many of the rejected applicants either didn’t qualify or were “trying to game the system.”
US Virgin Islands launches cannabis program
The islands of St. Thomas, St. Croix and St. John attract 2.4 million tourists each year.
In Other News
Trulieve Cannabis Corp.
Trulieve Cannabis Corp. executives COO Marie Zhang, CPO Kyle Landrum, and CLO Eric Powers purchased 26,000 shares of the company between Nov. 8 and 13, signaling potential confidence in the company’s future, according to a report by Beacon Securities.
Nebraska
Attorneys for the Nebraskans for Medical Marijuana campaign, which sponsored Initiative Measures 437 and 438 for the Nov. 5 election, again urged Lancaster County District Judge Susan Strong to reject efforts to invalidate tens of thousands of signatures for alleged circulator “fraud” or notary “malfeasance,” based on what they said was a lack of evidence.
Colorado
Voters in Colorado Springs, the state’s send-largest city, approved a measure to legalize recreational marijuana sales within city limits and rejected a competing measure that would have permanently banned them, a decade after the adult-use cannabis industry launched in the state.
