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X @Forbes
Forbes· 2025-07-12 01:30
Why One-Time Cannabis Darling Tilray Is Now High On Beer https://t.co/p611NqXkW3 https://t.co/p611NqXkW3 ...
Video shows a cannabis farm manager confront federal agents during a raid on his facility
NBC News· 2025-07-11 22:30
You have a warrant. Show me the warrant. Show me theing warrant.I'm a citizen. you. Just asking you if you can please come out. I'll come out if you guys step back.Dude, I have my passport and my license. I'm a citizen, man. Now, just do me a favor.Can you put your arms right here. I just want to check you for weapons. Okay.For what, dude. I just want to check make sure. Look, dude. Look at that.That's all I have. I don't have anything else, dude. Dude, for what, man. For what.I don't have anything, dude. I ...
Planet 13 Launches Revamped Loyalty Program Offering Unbeatable Value, Immersive Events, and a Bold Price Match Guarantee
Globenewswire· 2025-07-11 21:22
Core Insights - Planet 13 Holdings Inc. has relaunched its loyalty program, which includes a price match guarantee for any third-party advertised price, enhancing its position as a leading cannabis retailer [1][4]. Loyalty Program Highlights - The loyalty program is designed to provide customers with unbeatable value and world-class experiences, emphasizing that loyalty extends beyond discounts [2][4]. - Customers can enroll for free in-store or online, allowing immediate access to savings and VIP event access [4]. - A 50% discount is available for all loyalty members in Nevada, with easy qualification by spending $100 or more [7]. Upcoming Events and Experiences - Planet 13 is focusing on customer appreciation through events such as "Planet the 13 Day," which will feature product launches and giveaways, and "Retrograde Day," promising unique surprises [7]. - The company aims to create consistently elevated experiences for its customers, including concerts and cultural events [4]. Company Overview - Planet 13 is a vertically integrated cannabis company with operations in California, Nevada, Illinois, and Florida, and is known for having the largest dispensary in the U.S. located in Las Vegas [5]. - The company operates 37 dispensaries nationwide and is focused on building a recognizable global brand in the cannabis industry [5].
Red White & Bloom Brands Announces Adjournment of Annual General Meeting
Globenewswire· 2025-07-11 21:05
Core Points - Red White & Bloom Brands Inc. has adjourned its 2025 Annual General Meeting of Shareholders to allow more time for the completion and presentation of its audited financial statements for the fiscal year ended December 31, 2024 [1][6] - The date for the reconvened AGM will be confirmed via press release on July 16, 2025, and the record date for shareholders remains May 13, 2025 [2][6] - The company operates as a multi-jurisdictional cannabis operator focusing on major U.S. markets such as California, Florida, Missouri, Michigan, and Ohio, as well as Canadian and international markets [3]
AYR Wellness Provides Update on Extension of the Limited Waiver Agreement with Senior Noteholders
Globenewswire· 2025-07-11 21:00
Core Viewpoint - AYR Wellness Inc. has entered into an amendment to its Limited Waiver Agreement with the majority holders of its senior secured notes, extending the temporary waiver period to July 18, 2025, to facilitate ongoing negotiations and explore strategic options to strengthen its capital structure [1][3]. Group 1: Limited Waiver Agreement - The Majority Holders have provided a waiver for certain events of default related to AYR's delay in filing interim financial statements for Q1 2025 and specific payment defaults under other outstanding indebtedness [2]. - The extension does not permanently waive existing defaults or rights under governing documents but allows for continued dialogue and exploration of strategies to address financial obligations [3]. Group 2: Business Operations - AYR Wellness continues to operate its business in the ordinary course and is evaluating growth opportunities in key markets [4]. - The company operates as a vertically integrated cannabis business with over 90 licensed dispensaries and a range of cannabis consumer packaged goods brands [6].
Protesters, ICE agents CLASH during farm raid
MSNBC· 2025-07-11 20:36
Immigration Enforcement & Policy - Federal agents conducted raids on cannabis farms in California, leading to clashes with protesters [1][2][3][4] - The raids are part of President Trump's larger immigration crackdown [5] - The Department of Homeland Security stated agents were executing criminal search warrants, while Glass House Farm claimed full compliance [4] - The White House aims for strategic immigration enforcement of farm workers, emphasizing no amnesty [5] Political & Social Response - California's Governor Gavin Newsom criticized the White House's tactics, describing them as evoking chaos, fear, and terror [5] - A Democratic congressman was reportedly denied entry to the raided site [4] - Trump's borders warned protesters that violent protests would be considered a felony [7] - Criticism of ICE agents by members of Congress is claimed to contribute to heated rhetoric [7] Security Concerns - An unidentified man was seen appearing to fire a weapon, with the FBI offering a reward for information [4] - Concerns were raised that the heated rhetoric could lead to someone getting killed [7]
X @Forbes
Forbes· 2025-07-11 17:30
Why One-Time Cannabis Darling Tilray Is Now High On Beer https://t.co/jmIGlbt96I https://t.co/jmIGlbt96I ...
Legal Cannabis Global Market Forecast to 2030 | Shifting Consumer Demographics and Preferences are Driving Product Diversification and Strategic Investments
GlobeNewswire News Room· 2025-07-11 12:56
Market Overview - The Legal Cannabis Market has grown from USD 33.52 billion in 2024 to USD 42.91 billion in 2025, with a projected value of USD 144.18 billion by 2030, reflecting a compound annual growth rate (CAGR) of 27.52% [2][11]. - The market evolution is driven by legislative changes, consumer behavior, and technological advancements [2]. Industry Dynamics - Legislative changes and increasing consumer acceptance have led to a diverse range of products, including extracts and edibles, while regulatory bodies are enhancing quality control measures [3]. - Vertical integration and partnerships are essential for achieving scale and distribution advantages, with advances in cultivation improving yields and consistency [4]. - Federal developments are fostering optimism regarding interstate commerce and harmonized licensing and taxation frameworks [5]. Investment Trends - There is a noticeable shift towards ancillary services and strategic mergers and acquisitions, which are reshaping competitive landscapes and refining value creation across the supply chain [6]. - Decision-makers are gaining strategic insights to identify opportunities amid evolving consumer preferences and technological advancements [6]. Tariff Impact - New tariff structures in 2025 have increased costs for cultivation and processing, leading to reassessments of manufacturing locations and supplier networks [8]. - Retailers are facing margin pressures due to increased duties on imported machinery and packaging components, often passing costs to consumers [9]. - Regional operators are diversifying sourcing strategies to mitigate future tariff effects, fostering collaborative partnerships to maintain resilience [9]. Key Report Attributes - The report spans 193 pages, covering the forecast period from 2025 to 2030, with an estimated market value of USD 42.91 billion in 2025 and a forecasted value of USD 144.18 billion by 2030 [11].
Cannabis Stock Cresco Labs Plunges 24% YTD: Time to Sell or Hold?
ZACKS· 2025-07-11 12:36
Core Insights - Cresco Labs (CRLBF) is facing persistent challenges in the U.S. cannabis market despite being a leading vertically integrated operator [1][2] - The company reported a 10% year-over-year decline in revenues for Q1 2025, totaling $165.8 million, amid restrictive federal laws and fragmented state regulations [3][9] - Adjusted gross margin decreased to 49.3%, down 220 basis points year-over-year, while adjusted EBITDA margins contracted to nearly 22% from 28.8% [4][9] - The company anticipates further revenue pressure in Q2 due to a mandatory system transition in Illinois, despite ongoing expansion efforts [5][9] - Cresco's stock has declined 24% year-to-date, contrasting with a 6% rise in the industry [8] Company Performance - Cresco's revenues are solely generated from the U.S., making it vulnerable to domestic market challenges [2] - The company generated $30 million in operating cash flow, but profitability is under pressure from rising costs [4] - Loss estimates for 2026 and 2027 have widened over the past 60 days, indicating ongoing financial difficulties [11] Competitive Landscape - Cresco faces stiff competition from peers like Aurora Cannabis, Canopy Growth, and Tilray Brands, which are also pursuing expansion and cost-optimization strategies [6] - Competitors are diversifying their revenue streams internationally, giving them an edge over Cresco, which remains reliant on the saturated U.S. market [7] Future Outlook - The company's turnaround is contingent on a broader regulatory shift in the U.S., which remains uncertain in the near term [12] - Despite operational discipline and free cash flow generation, the stock is considered to have limited upside and elevated risk for conservative investors [12]
Trulieve Partners with Redemption Cannabis to Launch Purpose Led Products in West Virginia
Prnewswire· 2025-07-11 12:00
Core Viewpoint - Trulieve Cannabis Corp. has launched Redemption Cannabis products in West Virginia, emphasizing social justice and support for those affected by cannabis prohibition laws [1][4]. Company Overview - Trulieve is a leading vertically integrated cannabis company in the U.S., with significant market presence in Arizona, Florida, and Pennsylvania [7]. - The company is focused on growth and expansion through a hub strategy, enhancing retail and distribution capabilities [7]. Redemption Cannabis - Founded by Ryan Basore, Redemption Cannabis reinvests a portion of sales to assist individuals and families impacted by cannabis prohibition [2][6]. - The brand aims to provide high-quality, affordable cannabis while promoting equity and justice in the industry [6]. Product Launch - Redemption's flower products will be available at Trulieve dispensaries in West Virginia starting July 11, 2025 [3][4]. - The partnership with Trulieve allows Redemption to reach new markets and support its mission of reform and second chances [4][5].