A Florida administrative law judge has upheld a 2022 decision by regulators to reject a plan by multistate operator Green Thumb Industries (GTI) to open medical cannabis dispensaries near or adjacent to Circle K stores. According to the News Service of Florida, the judge’s Tuesday order also affirmed previous rulings by Office of Medical Marijuana […]
Agrify Corp. is selling its cannabis cultivation operation for $7 million to an investment firm affiliated with the company’s former CEO, Raymond Chang. According to a Monday news release, the Troy, Michigan-based operator sold the unit to CP Acquisitions, which is affiliated with Chang. Chang resigned from Agrify’s top post and as board chair in […]
Agrify Corp. (Nasdaq: AGFY) announced Monday it has closed its acquisition of hemp-derived THC drink maker Señorita in an all-stock transaction valued at approximately $4.9 million. The deal involves acquiring certain U.S. and Canadian hemp assets from Double or Nothing LLC, with Agrify issuing 530,000 shares for the transaction, according to a company statement. “This […]
Donald Trump’s forthcoming return to the White House and his nomination of pro-legalization (but not pro-Florida legalization) Matt Gaetz for attorney general adds a new dimension to the cannabis sector’s outlook. But stock performance remains tightly linked to state markets, said Pablo Zuanic, managing director at Zuanic & Associates, in recent research reports. “With DJT2, we […]
One of the few profitable multistate operators in the U.S. cannabis trade, Chicago-based Green Thumb Industries (CSE: GTII) (OTCQX: GTBIF), is “frustrated” but undaunted by this year’s election results, including the failure of recreational marijuana in Florida. “Now that the election is over, the good news for us is that Green Thumb is set up […]
This story was republished with permission from Crain’s Chicago. Cannabis stocks got crushed the day after a recreational-use referendum failed in Florida, which would have become one of the country’s largest markets for legal marijuana sales. Shares in Green Thumb Industries, generally the industry’s best-performing stock, opened at a 52-week low before recovering slightly. The stock […]
A Green Thumb Industries subsidiary is providing $20 million in funding to marijuana cultivation and extraction solutions company Agrify Corp., with $10 million being drawn at closing. According to a news release, Agrify also is undergoing a management shake-up in which: Chair and CEO Raymond Chang resigned and I-Tseng Jenny Chan stepped down from the […]
Wyld is well on its way to becoming the top-selling cannabis edibles brand in every state, a goal the Oregon-based company has set as states continue to launch regulated adult-use marijuana markets. Of the 13 adult-use markets analyzed by MJBizDaily, Wyld was the top-selling brand in more than half. “We don’t plan on slowing down […]
(This is a contributed guest column. To be considered as an MJBizDaily guest columnist, please submit your request here.) Anthony Coniglio (Courtesy photo) The Federal Reserve’s recent decision to lower interest rates by 50 basis points has reverberated through financial markets, prompting a careful analysis of its implications across all industries. Investors in the battered marijuana industry have […]
