RISE Dispensaries, a cannabis retail chain owned by Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF), opened RISE Dispensary Orlando on Good Homes Road on Friday, Nov. 8. Located at 725 Good Homes Road, the new West Orlando location expanded RISE Dispensaries' retail footprint in Florida to 21 locations and 99 nationwide. Cannabis giant Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) opened a new medical dispensary in Miami, Florida in October. Curaleaf Miami Bird Road, located at 8868 SW Bird Rd. in Miami, brought the company's Florida store count to 66 locations, with 151 dispensaries total nationwide.Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF), one of the biggest supporters of Amendment 3 which was rejected by Florida voters earlier this month and would have legalized recreational cannabis in the Sunshine State, additionally expanded its already substantial retail footprint statewide.
As Americans are preparing to head to the polls on Nov.5 to decide the winner in the 2024 race for the White House, Floridians are about to weigh in on recreational cannabis legalization as well. Meanwhile, GOP Gov. Ron DeSantis has been leading the anti-marijuana charge in a months-long heated debate. The governor and the Republican Party of Florida have found a common language with hemp companies that already sell high-potency cannabis to Floridians, at least when it comes to opposition to a proposed constitutional amendment to legalize recreational marijuana in the state.According to a Miami Herald/Times investigation, the Republican Party of Florida and a political committee run by DeSantis' chief of staff have acquired donations from such businesses after the governor vetoed a bill that would have banned certain intoxicating hemp-derived products in the state in June. That bill would have outlawed the sale of products containing delta-8 THC and limited the amount of delta-9 THC, both of which are unregulated and widely available, including to minors.
That said, Green Market Report's Debra Borchardt took a closer look at how she called it "a tsunami of debt headed straight for the cannabis industry," or approximately $1.83 billion of the debt that's due by 2026 that many public marijuana operators opted for earlier as they lacked much-needed capital.Curaleaf Holdings, Inc. (OTC: CURLF), Cresco Labs (OTC: CRLBF), Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) and Verano Holdings (OTCQX: VRNOF) are about to face substantial debt maturities in 2026. Ascend Wellness, Green Thumb and Terrascend dealt with thier respective debts, at least for now.
Trulieve Cannabis will hold a conference call on Tuesday, Nov. 5, 2024, at 8:30 am Eastern Time following the release of its third quarter 2024 financial results.Kim Rivers and CFO Wes Getman will participate in the call to review the company's financial and operating results.
Trulieve Cannabis announced on Tuesday a partnership with Black Buddha Cannabis. The collaboration will debut products from women-owned medical marijuana brands to Trulieve dispensaries in Arizona and Pennsylvania starting this fall.Products from Black Buddha's "BLYSS" and "DREAM" lines of premium medical marijuana flower will be available in Trulieve stores throughout the two states starting Friday, Oct. 4.
The first legal recreational cannabis store in North Carolina is slated to open its doors to customers on Saturday, Sept. 7 at 91 Bingo Loop Road in Cherokee, Swain County. Great Smoky Cannabis Co., an Eastern Band of Cherokee Indians (ECBI) medical marijuana announced this summer that recreational cannabis was available to adult members of the ECBI and other federally recognized Native American tribes. Now the store opening celebration is about to take place.
Trulieve Cannabis Corp. announced on Tuesday its second-quarter results for the three months ended June 30, 2024. The Florida medical cannabis giant reported a 2% quarter-over-quarter and 8% year-over-year to $303 million, with 95% of the sum coming from retail sales, driven by higher retail traffic and increased wholesale revenue. Trulieve also launched recreational cannabis sales at its three Ohio retail locations on Tuesday. Kim Rivers, the company's CEO, called the Ohio marijuana sales launch a "milestone" for the company as it "completed our first recreational sale in the state of Ohio with the successful conversion of our three locations to adult use." The company commemorated the marijuana sales launch by reserving its first online order picked up at its Westerville location this morning.
As New York City's ‘Operation Padlock To Protect' gains momentum with New York Governor Kathy Hochul and NYC Mayor Eric Adams announcing recently more than 1,000 illicit cannabis stores have been shut down across the state, the state legal market is expanding. Gov. Hochul recently celebrated the opening of the 150th Adult-Use Retail Dispensary (CAURD), The Robinson's Dispensary, located in Albany. That number includes storefronts and temporary delivery-only (TDO) locations that are open and operating statewide.
Medical marijuana dispensaries across Ohio learned that they'll receive certificates of operation allowing them to open for recreational consumers on Tuesday August 6, provided they tick a few final boxes.
Cannabis might be flying off the shelves in top cannabis states, like California, Michigan and Illinois ranked by the latest cannabis sales figures, but new dispensaries are launching sales nationwide and internationally on a daily basis.
As support to legalize recreational cannabis is growing in Florida, medical cannabis giant Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) continues to ramp up its retail footprint statewide.ast week, cannabis retail shop Island Time reopened following a legal saga around Massachusetts' stringent regulations prohibiting the transportation of cannabis products across state territorial waters. The Prairie Island Indian Community located in Southeastern Minnesota soft-launched cannabis sales at Island Pezi cannabis dispensary.Kaya Holdings, Inc. (OTCQB: KAYS) announced on Tuesday that its licensed psilocybin treatment center in Portland, Oregon, The Sacred Mushroom will open for business on Friday, July 5, 2024. The company said psilocybin treatments will be available immediately to eligible guests.
The financial landscapes of Canadian and U.S. cannabis operators showcase distinct paths in the quest for profitability, driven by varying market dynamics and regulatory environments. According to recent financial data from Beacon Securities, the analysis of key financial metrics such as EV/EBITDA and P/CFO ratios reveals crucial insights.
As rules to guide recreational marijuana program in Ohio are taking effect these days, Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) opted to resolve its legal dispute with Harvest of Ohio LLC that's been ongoing for nearly a year.
In anticipation of the outcome of Florida's Measure 3, cannabis giants are racing to bolster their retail footprint statewide. In California, four new cannabis stores kicked off sales recently. New York's cannabis retail footprint continues to grow. Five states each opened a new cannabis store, while Canna Cabana retail presence expands in Canada,
Trulieve Cannabis Corp. announced on Thursday its first quarter results for the three months ended March 31, 2024. The Tallahassee, Florida-based medical cannabis giant reported revenue of $298 million for the first quarter of fiscal 2024, representing an increase of 4% sequentially and year-over-year, with 96% of revenue from retail sales.
"Cannabis is just getting started and there's going to be a lot of companies getting ready to take advantage of this massive growth cycle, government reform, news states, opening new opportunities and one day, interstate commerce." That's according to Benzinga's cannabis stock expert, Michael Berger, who is on a mission to uncover the most promising marijuana stocks poised for growth, even in a dull market.
