August 9 2021,
THE BIG IDEA
We get a little wonky in today’s issue, and then debut a new section highlighting interesting conversations from social media.
Let’s get to it:
- Why are pot sales falling?
- Is interstate commerce actually legal?
- Seth Rogen is serious about legalization
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Is interstate trade actually legal?
Seth Rogen is serious about legalization
- Grown In has the latest on Illinois’ very messy retail licensing situation.
- MSO Curaleaf reported Q2 revenue of $312.2M, up 166% year over year, and a net loss of $7.2M.
- The CEOs of acquired companies like Harvest and AltMed have received huge bonuses.
- A federal memo has alarmed some in the hemp industry about companies’ ability to secure loans.
- Commentators at The Motley Fool ask if the ongoing federal corruption trial of J.T. Burnette, husband of Trulieve CEO Kim Rivers, should worry Trulieve investors. (Neither Rivers nor Trulieve have been accused of wrongdoing.)
- These days, the hottest weed in Mexico comes from California.
- Business Insider found the 15 hottest psychedelics start-ups.
- Bloomberg looks at Colombia’s advantage for global exports.
- Jackie Bryant dives into the science behind weed paranoia, and how to avoid it.
- Colorado-based retailer Green Dragon opened its first dispensaries in Florida.
- Florida-based MSO Trulieve debuted a brand portfolio.
- MSO MariMed is releasing an infused ice cream in partnership with Boston ice cream brand Emack and Bolio’s. It already boasts a flavors called Stoney’s Dream and Space Cake.
- Hawthorne, Scotts Miracle-Gro‘s hydroponics unit, reached a deal to acquire water filtration system maker HydroLogic.
- CBD drink maker Mad Tasty inked a deal with distributor Southern Glazer’s Wine & Spirits to go national.
- Leafly announced plans to go public via a SPAC transaction.
- Media company Buzzfeed launched a cannabis line under the umbrella of its Goodful brand.
- Sales and marketing agency Petalfast engaged Nabis to exclusively distribute its brands in California.
- Events and intelligence company Prohibition Partners acquired media outlet Business of Cannabis for an undisclosed sum.
- Bo Becker, former VP marketing at Charlotte’s Web joined Papa & Barkley as CMO.
- Cronos Group appointed Bob Madore CFO. He has previously been a financial executive with fashion brands.
- MSO Jushi named Brendon Lynch EVP retail operations. Lynch has many years of experience at mainstream retailers.
- Erik Thoresen, joined Glass House as Chief Business Development Officer. He was previously VP M&A at MSO Harvest.
- Kiva Sales & Service, a distributor associated with the edibles brand, named former Southern Glazer’s Wine & Spirits executive Brooks Jorgensen president.
- Cannadips CBD, “the modern dip alternative,” named former smokeless tobacco exec Jen Pike as Chief Revenue Officer and experienced finance exec Richard Kannan CFO.
- Boutique investment advisory Sharp Capital Advisors said Colin Campbell had joined the firm as managing director.
- Industry group U.S. Cannabis Council named Akerna CEO Jessica Billingsley board chair.
- Canadian operator Organigram named Beena Goldenberg CEO. She was previously CEO of Supreme Cannabis which was acquired by Canopy Growth.
- Brand builder Josh Karchmer asks who’s the best culture marketer in weed?
- Petalfast CEO Jason Vegotsky thinks California brands will crush it out east. Not everyone agrees.
- Catalyst Cannabis CEO Elliot Lewis says fake social equity is silly.
- Green Flower CEO Max Simon asks if LinkedIn is cracking down on cannabis content.
- In her quest for funding, Hi-Curious founder Lauren Mundell says white men over promise and under deliver.
BY THE POOL
WeedWeek HIGH SOCIETY -- 8/10/21
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