The Florida Department of Health issued intent-to-approve letters to 22 operators on Tuesday, the the first expansion of the state’s cannabis market since 2017. Recipients of the letters included several established out-of-state brands, including California-based STIIIZY, Ohio’s KLUTCH Cannabis and even Colorado pioneers Star Buds. The expansion, combined with five recently approved Black farmer licenses, […]
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 […]
In a stinging rebuke to the $32 billion regulated U.S. marijuana industry – and to one multistate operator, in particular – Florida voters on Tuesday appeared to reject a constitutional amendment that would have legalized adult-use cannabis in the nation’s largest medical-only market. The Election Day setback also is a nightmare scenario for Tallahassee-headquartered Trulieve […]
As Election Day kicks off, Florida will soon know whether it’ll stand up a fully fledged recreational cannabis program next year. And Trulieve Cannabis Corp. (OTC: TCNNF) has been a driving force behind the Yes on 3 campaign, pouring millions into the effort. If the measure passes, CEO Kim Rivers said the company is shooting […]
With early voting well underway in Florida, the fate of the state’s Amendment 3, which would usher in recreational cannabis sales for adults 21 and older, is being decided. But questions linger about the measure’s timeline and how Gov. Ron DeSantis’ administration will approach what could become the nation’s third-largest cannabis market, if the measure […]
The Internal Revenue Service faces mounting pressure to clarify cannabis tax rules, as a key Supreme Court decision threatens to upend the agency’s interpretative authority and rescheduling looms large over the industry. The American Institute of CPAs in a letter this week urged the U.S. Treasury Department and the IRS to provide advance guidance for […]
There is a tsunami of debt headed straight for the cannabis industry. When capital dried up a few years ago, many publicly traded cannabis companies turned to debt for needed funding. Now, roughly $1.83 billion of that debt is set to come due by 2026. Facing the wave There’s no way to know exactly how […]
Florida cannabis businesses began shutting down this week in anticipation of Hurricane Milton, which was expected to make landfall late Wednesday on the state’s west coast. Milton’s wrath didn’t sway Florida Gov. Ron DeSantis to extend the Oct. 7 deadline to register to vote in the Nov. 5 election. In addition to casting votes for […]
