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- 👀 A Glimmer Of Hope For PA 👀
👀 A Glimmer Of Hope For PA 👀
Anthony Varrell
June 19, 2024
GM Everyone,
It looks like we are actually gaining some traction in Pennsylvania, which could be a huge catalyst for some of the major MSOs. A memo was sent to members of the PA government on 6/17, urging them to join the bill sponsors in passing sensible cannabis legislation to catch up with their neighbors in Ohio. We have seen this before and failed here previously. Let's get it right this time, guys!
Lets have a green day.
Today’s letter can be read in 6 minutes and 49 seconds.
What's Driving the Market Today?
US Stock Market is Closed today, here is what is in focus overseas:
UK inflation dips to 2%, BoE rate decision in focus.
Nvidia becomes world's top firm, tech stocks surge.
U.S. retail sales slow, hinting at possible rate cuts.
Asian markets rise, led by record tech stock gains.
💸 High Impact
Cannabis News Today – June 19th, 2024
TheGovernor Hochul Shuts Down Illicit Cannabis Storefronts
Governor Kathy Hochul of New York announced the shutdown of over 100 illicit cannabis storefronts, boosting legal cannabis sales by 27% and seizing over $29 million in illegal products. This action supports legal retailers and addresses public safety concerns. Hochul emphasized the state’s commitment to a strong, equitable cannabis market through rigorous enforcement and new legislation. Read all about it on the TDR Website!
California Cannabis Industry Shows Health with Low Default Rates
A California lender reports low default rates among cannabis businesses, indicating a healthy and resilient industry. This trend underscores the stability and growth potential within the state’s regulated cannabis market.
Planet 13 to Launch New Entertainment Complex
Planet 13 Holdings Inc. (CSE: PLTH, OTCQX: PLNH) known for its cannabis superstores, is set to launch an entertainment complex called Planet 13 Fight Club. The venue will feature exclusive meet-and-greet events, combining cannabis retail with entertainment experiences.
California State Fair to Allow Marijuana Sales and On-Site Consumption
For the first time, the California State Fair will permit marijuana sales and on-site consumption. This marks a significant milestone in the normalization and acceptance of cannabis in mainstream public events.
Missouri Marijuana Store Thrives, Officials Seek Revenue Cut
A marijuana store near the Arkansas border in Missouri is flourishing, drawing significant business. Local officials are exploring ways to secure a portion of the revenue generated by this booming dispensary.
Blüm Holdings Sells Santa Ana Location
Blüm Holdings Inc. (OTCQB: BLMH) has completed the sale of its Santa Ana location, resulting in an estimated $44.5 million in debt elimination and a $34 million gain. This strategic move is aimed at strengthening the company’s financial position.
🗞️ The News
📭 Research
Initiating Coverage: Green Thumb Industries - Download Here
Reconfirming Buy Rating: MariMed - Download Here
Initiating Coverage Of Verano Holdings Corp. - Download Here
Initiating Coverage: Trulieve Cannabis - Download Here
📺 YouTube
The Cannabist Stock Corporate Update
What we covered:
✅ The Cannabist Company (Cboe CA: CBST, OTCQX: CBSTF) CEO David Hart and President Jesse Channon join the podcast to discuss the company's announced restructuring. TDR Trade to Black Co-Hosts Shadd Dales and Anthony Varrell will have David and Jesse explain the following: 1. Exit from the Florida market and focus on core markets. 2. Cost reduction efforts and strategic divestitures 3. Adult use opportunities in Delaware and Pennsylvania. 4. Talent and organizational changes. 5. Outlook for the cannabis market in the US.