Sobriety Checkpoint!

Canna is under some serious scrutiny.

Daily Recap

There’s a saying in media, “if it bleeds, it leads.”

There’s another saying we’re fond of: “facts aren’t insults.”

I was reminded of both as I read through this morning’s cannabis news:

‘Recreational weed industry on verge of collapse due to steep taxes, plunging prices, glut of competition and thriving illicit pot market,’ courtesy of The Daily Mail, was the first thing I saw when I opened my eyes at 5AM, thanks to a text from my buddy Pete.

‘New Jersey adult-use marijuana market caught in a doom loop’ was amplified shortly thereafter by Marijuana Business Daily when they featured a report by the state’s Cannabis Trade Association, which. in turn, blamed the NJ regulatory commision.

We heard more bad news on the failed New York adult-use roll-out from a respected industry insider who “thinks the industry has already collapsed” and urges “people to pay attention and hold the government agencies and politicians involved accountable to their promises and their failures.”

[^ the NY judge has already admonished the NY Office of Cannabis Management for their central role in said collapse.]

There was a column about Cali having another ‘fake union’ problem, which of course follows the ongoing articles about the California cannabis “extinction event;” The Columbus Dispatch informed us that anti-weed Ohio lawmakers could quash legal canna even if voters pass it in November (WTF?); and if it all turns to shit, there was a missive about how we shouldn’t count on federal courts to rule on cannabis lawsuits.

[there was even a story about how the S&P discontinued Canadian and international cannabis stock indices due to declining investor appetites and regulatory missteps but given one was decommissioned with little fanfare earlier this year and the other was shuttered in November 2021, we’re unsure why this was still deemed news]

In other news, Arkansas MMJ sales hit $23.2M in July and are estimated to reach $280M this year; the Maine congressional delegation urged the DOJ to shut down illegal Chinese-owned marijuana grows; the percentage of young cannabis offenders reached a new high in Japan; Arizona canna sales have started to slip; Georgia MMJ regulators approved three more dispensaries; Thailand’s weed industry is poised to grow quickly; Australians prescribed cannabis are fighting for their jobs; banks and landlords have been pulled into the NYC canna trade; a study found that "cannabidiol attenuates nicotine self-administration in mice;" there was insider buying at a Tier-1 MSO; the new U.S. canna comps are out; we finally got some M&A in the space and we re-review the specter of cannabis working toward a Schedule III status this year.

All that and more, just scroll down…

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