Happy Wednesday, Cannabis Investors! We are on the second day of our Cannabis Capital Conference. If you weren’t able to join us, but want to join in, here’s your chance. For existing subscribers, you can get direct access to the live stream through our research platform. And new users, you’re in luck, too. Get instant access here!

Also, check out the newest episode of Cannabis Insider, also available on Apple and Spotify.

Puff Pass: Did someone forward you this email? Click here to get automatically subscribed.

TOP STORY

Top Cannabis Diversification Secrets: Industry Leaders Reveal Strategies For Success At Benzinga Conference

Briefly: Diversification is key in the cannabis industry — hence why it’s being discussed in depth during a panel on the first day of the Benzinga Cannabis Capital Conference in Florida.

So Basically: Moderated by Amy Rubenstein, partner at Dentons, the panel gathered industry experts to dissect what diversification means for cannabis businesses and how they can secure their growth and financial health amidst a dynamic market.

So Then: Panelist and Wedbush analyst Gerald Pascarelli emphasized the necessity of a diverse portfolio, including different delivery mechanisms, form factors, and price points.

Quoted: “Most companies are paying a 70% effective tax rate. When you think about where diversification or growth can go wrong, it’s spending too much CapEx and not protecting your cash.”

So What? While the paths to diversification vary, a common understanding emerged: strategic diversity, grounded in a deep understanding of the market and one’s core competencies, is essential for a successful operation.

Click here to see what the other panelists said.

ZINGERS

Shares of the cannabis-focused ETF AdvisorShares Pure US Cannabis ETF, surged midday Tuesday in what could be reaction to the remarks made at the Benzinga conference

Exclusive: Florida on cusp of adult-use legalization cannabis sales boom, CEO tells Benzinga Conference — “It's going to be huge”

California cannabis CEO has advice on how to beat the illicit cannabis market, shares his formula at the Benzinga Conference

Cannabis valuations “more mathematical, more balance sheet driven” than before: Insights from industry experts

No cannabis tax relief in Canada, Tilray CEO says this “hinders our ability to compete with the illicit market”

ONE FOR THE ROAD

Global Cannabis Strategies Post-German Legalization: Exclusive Insights From Curaleaf, Gold Flora, Verano

Briefly: At the Benzinga Cannabis Capital Conference in Hollywood, Florida, Constantin von der Groeben, managing director of Demecan, declared a pivotal moment for global cannabis legislation.

So Basically: “We’ve reached a tipping point. I think there’s no stepping back from Germany’s cannabis legalization,” von der Groeben said during Tuesday’s panel.

So Then: The discussion, moderated by Tim Seymour of Seymour Asset Management, featured insights from key industry leaders including Matt Darin, CEO of Curaleaf, Laurie Holcomb, CEO of Gold Flora, and Darren Weiss, president of Verano Holdings.

So What? Each shared their perspectives on the evolving global cannabis market, offering insights into how their companies are navigating this dynamic landscape.

Click here to read more.

KEEP READING

Before you go, be sure to subscribe to our other newsletters:

Ring The Bell: If you have to pick just one daily financial newsletter, it’s not a choice. Subscribe here.

The Street Sheet: A Wall Street cheat sheet, delivered every Sunday directly to your inbox. One-click subscribe here.

Future Finance: TradFi is tired. Wake up to the future of finance with this midday fintech and crypto letter. Subscribe here.

The Flag: Top takes from Washington to Wall Street impacting policy and your portfolio. One-click subscribe here.