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February 3 2022,
TOGETHER WITH
|
THE BIG IDEA
Hi all,
This weekend, or in the not too distant future, I’m excited to see Jackass Forever featuring (very funny) stoner comedian Rachel Wolfson. In the promo pics, she appears to be licking a Taser, which is too painful to even think about.
In the newsletter:
- How to save equity
Read up,
Alex
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HOW TO SAVE CANNABIS EQUITY
Former WeedWeek California editor Donnell Alexander wrote a four-part series for Capital & Main on why cannabis equity has failed, and what might save it.
The series argues that meaningful cannabis equity remains an opt-in proposition for companies. It’s funny, angry and well worth your time.
- If you don’t have time for all 10,000 words right this minute, you can check out my TL; DR write up for WeedWeek.
But seriously, read the whole thing.
POT STOCKS BETTER PREPARED FOR SLUMP
January was another dismal month for pot stocks. But this isn’t like the last three (or four) busts: companies have lots more cash.
MJBiz, WSJ
- Stock prices seem to be reflecting dimmed hopes for federal reform and not individual company performance.
- The market doldrums have led MSOs Columbia Care and Trulieve to raise debt, rather than equity capital. The two companies raised $185M at 9.5% interest and $75M at 8% interest respectively.
MarketWatch
QUICK HITS
Politics:
- Cannabis Wire says the groundwork for federal legalization is underway.
Business:
- After several seizures, a federal judge rejected a request from logistics company Empyreal to stop cops from confiscating the cannabis cash it transports.
San Bernardino Sun - Former Massachusetts regulator Shaleen Title argues the industry needs anti-trust laws.
Marijuana Moment - MSO Verano said it would acquire Goodness Growth (formerly Vireo) for $413M, buying itself licenses in New York, Minnesota and New Mexico.
- January was another rough month for pot stocks.
MJBiz - MG Retailer found the five largest grow operations in the country.
- Cannabis journo Andrew Ward discusses investing in indigenous-owned cannabis.
- MSO iAnthus closed its acquisition of MPX. The deal was announced in 2018 at $835M, but became messy.
- Benzinga highlights 14 founder-friendly investment firms.
- Numerous states returned to solid growth in December, according to BDSA.
New Cannabis Ventures - MJBrand Insights says art can help brands build their identity.
States:
- CalMatters asks if Gov. Gavin Newsom (D) can fix the state industry’s crisis.
- An Arizona judge dismissed a lawsuit trying to reserve equity licenses for small businesses.
MJBiz - More companies want Denver consumption licenses.
Greeley Tribune - Mississippi became the 37th state to legalize MED.
AP - Connecticut has begun accepting applications for its social equity licenses. The $3M licensing fee is a “head-scratcher,” a lawyer said.
MJBiz - The unlicensed market is flourishing in Virginia, which has not opened its REC market.
Health and science:
- The NFL awarded $1M to study the effects of cannabinoids on pain.
ESPN
IN THE WEEDS
- A SoCal court case sheds light on whether the industry has access to federal district courts.
National Law Review - Data shop Headset looks at the capsules, tinctures and sublinguals markets.
- Headset also has a report on consumer trends and demographics in 2021.
- Brightfield Group has a report on infused-drink trends.
- LeafLink dropped its 2022 wholesale pricing guide.
UPCOMING
- Consultancy Canna Advisors is hosting a pitch deck competition with up to $500k in investment capital up for grabs. Deadline is March 15.
- The Scotts Miracle-Gro Foundation’s Hawthorne Social Justice Fund is sponsoring a Cannabis Policy and Social Justice Fellow who’ll work in Congress researching cannabis policy. Deadline is May 6.
- The Cali Vibes Festival has a great line up Feb. 4-6 in Long Beach, Calif.
PRODUCT NEWS
- Posibl launched HUMO, a brand aimed at Latino consumers. (Pictured) Don’t miss the recent WeedWeek Live interview with Posibl CEO Jesus Burrola.
- MSO MedMen is launching a “personal concierge service” called Cannasseur.
- PepsiCo is launching a hemp seed-infused drink through its Rockstar Energy brand.
CNBC - Mike Tyson’s Tyson 2.0 brand is launching in Michigan in partnership with Common Citizen.
- Canndescent introduced Volcannx, an “exotic strains” brand.
- Jackie Bryant finds the best edibles on the (California) market. No gummies allowed.
UpRoxx
ON SOCIAL
- Consultant Mitchell Osak says Amazon is coming for cannabis.
- VC Sammi Toorish expects 2022 to be a big year for minor cannabinoids.
High Society:
- 300 Entertainment CEO and Co-Founder Kevin Liles celebrated Lunar New Year and Black History Month with the label’s Creative Director Kevin Leong and Canadian brand Burb at NYC speakeasy Astor Club. @soniahendrix posted pics.
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