Staff
The Daily Hit is a recap of the top financial news stories for February 6, 2023.
On the Site
Missouri Recreational Cannabis Opening Weekend Sales Near $13 Million
Over the first three-day weekend of legal recreational marijuana sales in Missouri, medical and adult-use retail sales combined to hit $12.6 million in sales, the state announced. Many shops reported long lines this past Friday. Read more here.
Georgia Medical Cannabis Program Rules Delayed over Technicality
The Georgia Access to Medical Cannabis Commission gathered for a special session on Thursday to roll back a unanimous approval they made last week regarding new major rules for their medical program. The commission forgot to notify the Office of Legislative Counsel about Jan. 25 meeting to pass testing, inspections, and distribution rules. Read more here.
Despite Early Access for Out-of-State Brands, In-State Hope Remains
In-state New York cannabis brands, especially smaller operations that are family run, might feel some apprehension about the news that out-of-state brands are already staking their claim in the Empire State’s legal marijuana market. Read more here.
Australia Legalizes Medicinal Use of Certain Psychedelics
The Australian government has signaled a new direction for the country’s view on psychedelics to treat certain mental health conditions. The Therapeutic Goods Administration (TGA) will reschedule medicines containing psilocybin and MDMA for the treatment of post-traumatic stress disorder and psilocybin for treatment-resistant depression. Read more here.
In Other News
Marijuana Packaging
The U.S. International Trade Commission’s chief administrative law judge has found that a variety of companies importing vaping cartridges don’t infringe a trio of patents. Judge Clark S. Cheney said Wednesday that he had issued a final initial determination in the Section 337 investigation, holding that there was no infringement of Shenzhen Smoore Technology’s patents. The reasoning for the decision is not yet available to the public and is subject to review by the agency’s commissioners. Read more here.
U.S. Cannabis Markets
Cannabis sales increased 5.3% in December compared to November according to cannabis data analytics firm BDSA. Looking at a per-day basis, sales increased 2.0% month-over-month. In total, BDSA estimates that sales across the 11 markets totaled $1.68 billion during the month. Read more here.
