Another One Bites the Dust

More U.S. canna coverage gets pulled.

Daily Recap

With every one of Virginia’s 140 legislative seats up for election next month, Old Dominion, the Mother of States, will elect a new cast of characters that’ll control the House of Delegates and Senate—these are the folks that will dictate cannabis policy in the commonwealth for the next few years.

“The fate of cannabis policy in Virginia will absolutely be determined by the outcome of this November’s election,” the regional NORML president told Marijuana Moment, “Marijuana is on the ballot in 2023.”

[Ohioans go to the polls November 7th and the oral arguments in the Florida SC case will be heard November 8th; Virginia, like Pennsylvania, will be a year-end wildcard]

Missouri legal cannabis operators are ringing up $100M each month in sales. The Show Me State has showed us the money since adult-use flipped the switch earlier this year; adult-use revenues soared from $72M in February to $97M in August.

As New York opens its marijuana market to larger competitors—GTI, Cresco, PharmaCann, among others, could be on shelves by December—retailers fear being squeezed out. I would remind them that the RO’s (MSOs) need genuine, authentic, legacy vibes to survive in the big city, and “we + how” > “us vs. them.”

A handful of medical cannabis companies in Hawaii are selling + delivering wholesale flower and other marijuana products from one island to another, a first for the state and a rare sales route anywhere in the U.S. Traveling from one island to another—you know, because they’re islands—requires crossing federal waters.

Rhode Island cannabis sales hit $7.1M in September; Maryland hemp-derived THC retailers could reopen after a judge’s ruling; cannabis vapes are as big as nicotine vapes—but without regulation; and multistate operator Verano will begin trading on CBOE Canada on Wednesday.

There’s no more razzle-dazzle up north as Canada's canna industry faces a downturn; Northern Ireland’s first medical cannabis facility will open in 2024; and there will be a new clinical trial to study medical cannabis for Glioblastoma (GBM) cancer treatment.

We’ll update you on the latest happenings in the financial markets, look at the latest sell-side shop to pull the plug on U.S canna and explore who’s saying what re: when the next federal steppingstone will emerge. Finally, we’ll recap the reactions to the TerrAscend Analyst Day on Friday after JW & Co. put on a show.

All that and more, just scroll down.

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