Michigan’s marijuana shops sold just $265.5 million for the month of December, the latest in a multimonth decline for the longstanding Midwest cannabis market. The figure includes $264.6 million in recreational sales and another $815,759 in medical sales, according to statistics from the state Cannabis Regulatory Agency. The numbers are down from $276.3 million sold […]
This story was republished with permission from Crain’s Detroit. Michigan’s cannabis industry faces a reckoning in 2025. Oversupply and low, low prices are coming to a head in the industry, leaving a trail of shuttered cultivators and processors. The average price for an ounce of cannabis flower in Michigan’s adult-use market fell nearly 23% to $71.80 — […]
This story was reprinted with permission from Crain’s Detroit. Legislation for Michigan’s long-awaited marijuana reference testing lab fell victim to the chaotic and relatively unproductive lame-duck session in Lansing. House Bill 5529, which passed unanimously out of committee early last year, didn’t make it to a full vote in the House during the final sessions in December, […]
Cannabis real estate manager Innovative Industrial Properties (IIP) is claiming that multistate operator PharmaCann has defaulted on several of its leases across the country. IIP, a San Diego-based-headquartered real estate investment trust (REIT), alleges in a news release that PharmaCann defaulted on December rent obligations totaling $4.2 million on six properties located in Illinois, Massachusetts, […]
This story was reprinted with permission from Crain’s Detroit. The year continues to get worse for Michigan’s marijuana growers as prices remain in free fall. Prices for adult-use marijuana prices dropped another 3% in November to $71.80 for an ounce of flower, down nearly 23% from the start of the year, according to data from the […]
News from: Nebraska, Epidiolex, Kansas, Detroit and more. The Daily Hit is a recap of the top financial news stories for Monday, December 9, 2024. On the Site Last-gasp challenge to Nebraska cannabis law fails, appeal still possible The ruling found challengers couldn’t prove enough signatures were invalid to overturn the initiatives. Read more here. […]
The city of Pontiac, Michigan began accepting recreational marijuana business applications last week, but the timing couldn’t be more challenging for prospective operators. The Pontiac City Clerk’s office opened its 21-day application window on Dec. 2 for up to 17 retail licenses just as the latest Michigan cannabis flower prices hit new bottoms. The application […]
From the arrival of a New Jersey shop co-owned by a member of the Wu-Tang Clan to a dispensary located just minutes from San Francisco International Airport, here are the notable new dispensaries that opened in the past month. Got a new shop? Put it on the map. Visit Leafly Success to advertise. California Embarc—San […]
How Michigan created a $10B weed market – Cannabis Business Executive – Cannabis and Marijuana industry news skip to Main Content Source link
The Daily Hit is a recap of the top financial news stories for Monday, November 25, 2024. On the Site Creditor asks California court to appoint receiver for Gold Flora, citing ‘dire liquidity issues’ The request stems from debts purchased from the now-defunct cannabis distributor Herbl. Read more here. Minnesota judge delays cannabis license lottery […]
