NY Could See Over $1B in Cannabis Tax Revenue

The New York tax collector should be excited about Governor Hochul’s projected $1.25B in cannabis tax revenue over the next six years. The state’s 2023 fiscal year budget includes $56M in anticipated revenue, 70% from license fees from businesses alone. Continue reading “NY Could See Over $1B in Cannabis Tax Revenue”

Ayr Wellness (AYRWF) Wants To Dominate the East Coast

Ayr Wellness (AYRWF) is making a name for itself on the East Coast. As of Q3 2021, this vertically integrated operator had 67 dispensaries in their name, 44 of which were in Florida alone.

The company has a presence in Massachusetts, New Jersey, and Pennsylvania, and recently moved its headquarters to New York.

As new states began to accept license applications, Ayr may ramp up expansion plans and gobble up East Coast market share.
Continue reading “Ayr Wellness (AYRWF) Wants To Dominate the East Coast”

Trulieve’s Sunny State Partnership

Trulieve Cannabis Corp. (TCNNF) is teaming up with Connected Cannabis Co. to sell their products in Trulieve’s 111 Florida dispensaries.

This partnership helps Connected reach customers on the East Coast and expands Trulieve’s offerings at their already thriving locations. Continue reading “Trulieve’s Sunny State Partnership”

France’s Constitutional Council Gives CBD the Nod

It looks like France’s Constitutional Council is giving CBD its blessing, saying that CBD is not harmful to health nor addictive. This contradicts a December decree which prohibited the possession, use, or sale of CBD. Continue reading “France’s Constitutional Council Gives CBD the Nod”

Tilray Maintains #1 Position in Canada

Tilray, Inc. (TLRY), now Tilray Brands, Inc., announced good news during its Q2 fiscal 2022 earnings call.

CEO Irwin Simon applauded Tilray’s ability to maintain status with the #1 cannabis market share in Canada. In addition, he said, “Our second quarter performance reflects notable success building high-quality and highly sought-after cannabis and lifestyle CPG brands.” Continue reading “Tilray Maintains #1 Position in Canada”

Organigram Sees Spike in Adult-Use Sales

According to Organigram (OGI), Canadian adult-use sales are on the rise. The company’s sales rocketed more than 70% in the same period YoY. Quarterly net revenue topped $30M (CAD). Continue reading “Organigram Sees Spike in Adult-Use Sales”

Falling Cannabis Sales Point to Tilray’s (TLRY) Miss

It’s no secret that Tilray’s cannabis sales have been dropping in Canada. In the quarter that ended Nov. 30, Tilray (TLRY) reported net revenue of $155.1M. This figure is considerably lower than consensus expectations of $170M. Tilray correlates the miss with coronavirus-related headwinds, supply-chain issues, and a lower share of the key Canadian market.

Continue reading “Falling Cannabis Sales Point to Tilray’s (TLRY) Miss”

German Government Official Previews Cannabis Legalization

Even though Germany’s government has its eyes set on tackling the coronavirus pandemic, some details of the forthcoming cannabis legalization plan have been released.

A top government official has provided additional information about the pending proposal. Continue reading “German Government Official Previews Cannabis Legalization”