Happy Wednesday, Cannabis Investors! Who's winning in weed? One analyst broke down the best bets among the cannabis market’s big players.

Plus, this state’s cannabis industry is drowning in debt: $732M owed in taxes, 72% by shuttered companies.

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

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TOP STORY

What 4/20 Spending Says About Sales In Key States

Briefly: The overall week of 4/20 saw 3X the cannabis sales and units sold compared to a typical week. Here’s why that matters.

So Basically: This year's 4/20 cannabis celebrations demonstrated the crucial role of technology in cannabis sales. Treez, a point-of-sale provider, reported a 120% increase in sales on 4/20 compared to the previous year, with a striking 200% increase the day before.

So Then: Pricing trends on 4/20 in 2024 showed notable changes as well as, for the first time, shifts in consumer preferences which showed a preference for convenience as pre-rolls tied with flowers, each accounting for 25% of total sales.

So What? Data from Weedmaps, which verifies retail cannabis products, showed that 72% of items ordered were brand-verified, pointing to a strong consumer preference for recognized and trusted brands.

Click here to find out which states led the sales.

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ZINGERS

Study Finds Unsafe Levels Of Toxic Metals In Commercially Available Cannabis Rolling Papers

Hawaii: Cannabis Decriminalization Bill Fails Amid Unified Legislative Opposition

Maine’s law enforcement agencies bust another illegal grow operation seizing 40 pounds (18 kilograms) of processed cannabis

DEA Sanctions Religious Use Of Ayahuasca But Refuses Psilocybin For Cancer Patients' Pain Relief

ONE MORE FOR THE ROAD

Could Other Social Media Platforms Learn From X's Cannabis Advertisement Strategy?

Briefly: X, formerly Twitter, is the only mainstream technology/social media platform to allow open discourse and advertising for cannabis-related products.

What Happened: That’s according to Alexa Alianiello, X’s U.S. sales and partnerships leader. In an exclusive interview during the Benzinga Cannabis Capital Conference, Alianiello expressed pride in X’s role as a pioneer in creating a safe space for cannabis-related expressions.

Quoted: “We really are the only public platform that allows for the free expression of cannabis conversation,” Alianiello said. The platform supports the advertising of cannabis businesses as well as THC and hemp-derived goods.

What Next: Alianiello called on those unable to attend the conference to engage with X’s platform, highlighting its capability to empower users to contribute to the cannabis movement. “Just that everyone has the power to use their voice as a part of the public conversation around cannabis.”

Click here for more exclusive insights.

BENZINGA CAPITAL CANNABIS CONFERENCE EXCLUSIVE INTERVIEWS

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