February 10 2022,
THE BIG IDEA
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In the newsletter:
- NY cracks down on gray market
- Equity efforts struggle nationwide
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N.Y. CRACKS DOWN ON GRAY MARKET
Equity efforts struggle nationwide: Report
Barriers to entry continue to stifle equity businesses, according to a new map and report from the Minority Cannabis Business Association.
- State social equity programs aren’t working.
- State license caps impede diversity in business ownership.
- Requirements to secure premises before licensing are a significant barrier for equity businesses.
- Industry bans on people with past cannabis convictions remain prevalent.
- Inequities in MED markets lead to inequities in REC markets.
- Barron’s weighs in on hopes for federal legalization.
- Federally-owned utility Tennessee Valley Authority walked back its threat not to supply power to federally legal companies.
- No, the Biden administration is not spending $30M on crack pipes.
- A judge ruled New York Gov. Kathy Hochul(D) must respond to MSO MedMen’s subpoena that seeks to learn more about her interactions with MSO Ascend Wellness Holdings. Read up on the MedMen/Ascend litigation here.
- There won’t be any weed ads during the Super Bowl, though Snoop Dogg’s half-time performance is the functional equivalent. Infused-drink brand Cann is putting up “substance equality” posters in the neighborhoods around SoFi stadium in Los Angeles.
The Verge, AdWeek
- Jackie Bryant spoke to Crypto Cannabis Club CEO Ryan Hunter about his “NFT-powered” brand, which has announced partnerships with several big California brands.
- Politico looks at the “risky” deal iAnthus made with investment firm Gotham Green Partners, which is poised to take control of the beleaguered MSO.
- Like clockwork, Rob McPherson is back with pungent commentary on the quarterly losses of Canadian players Canopy Growth, (“The worst run cannabis company in the world.”), Entourage Health, formerly WeedMD, (“Smells like burning cash.”), and Aurora (“Terrible, but better than Canopy.”).
- AdAge thinks the cannabiz can learn from the collapse of Juul.
- Businesses are bracing for a crackdown on hemp-derived THC. And a new bill would raise the THC limit in hemp from 0.3% to 1%.
MJBiz, Marijuana Moment
- Legalization appears to be gaining bipartisan traction in Wisconsin.
- Missouri’s supreme court ruled MED application info must be disclosed in a lawsuit filed by California-based King’s Garden, which was denied a license.
- The South Carolina senate approved a MED bill.
- Plunging prices pushed Michigan sales down 9% in January.
New Cannabis Ventures
- Humboldt County legacy growers won a big victory as county supervisors suspended an onerous tax. A new Save California Cannabis Coalition appeals for broader relief.
@sunnabis, Cannabis Wire
- Grown In finds most of the applicants for Ohio licenses were from out-of-state.
Health and Science:
- Researchers at the Salk Institute found cannabinoid CBN protects aging brain cells.
- Scientists said the plant can suck up heavy metals in the soil which could pose health risks.
- Mescaline therapy is beginning to attract attention.
Green Market Report
Fun and Interesting:
IN THE WEEDS
- Roth Capital Partners is hosting a conference March 13-15 in Orange County, Calif.
- Actor and rapper Dave East is doing a meet and greet tomorrow at the Jars Cannabis in Flint, Mich.
- Mike Tyson is doing a meet and greet Tuesday at The Green Solution, owned by MSO Columbia Care, in Aurora, Colo.
- Phoenix, Ariz. headshop Bud’s Glass Joint is hosting street party Buds-A-Palooza on Friday April 15.
- The Emerald Cup extended the deadline for entries until February 25.
- “Performance materials” company SWM is entering the rolling paper industry with a brand called Botani.
- Seattle-based Cycling Frog launched a line of THC seltzers. (pictured)
- Creativity oriented brand Pilgrim Soul has a new line of live resin vape cartridges.
- Popular pre-roll brand Jeeter and Highsman are doing a Super Bowl cannabis and apparel drop.
- Parkdale Brass has a line of new metal pipes.
- CBD Brands Charlotte’s Web, cbdMD and D Oh Gee won Product of the Year USA honors.
- Social media maven Alice Moon posted about Amy Donohue‘s “Reddit for cannabis” class.
- Attorney Khurshid Khoja reflected on his two terms as chair of the NCIA board of directors.
- “A pizza completely made of weed concentrate.”
- Dustin Hoxworth posted a Valentine’s Day treat.
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