🌊 Ride The Wave

There's a seismic shift underway in the world of medical cannabis — and you may not have heard about it.

Author

Brooks Dyroff
March 15, 2024

TGIF Cannabis Investors! End your week with a look at the ongoing seismic shift in the global medical cannabis industry you may not have heard about.

Plus, Jushi beat all expectations. The cannabis company surpassed analysts' 4Q23 sales and profit forecasts.

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

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TOP STORY

Briefly: HHS Secretary Xavier Becerra had a testy exchange with Senator John Cornyn (R-TX) of the Senate Finance Committee regarding rescheduling.

So Basically: Cornyn grilled Becerra on the Health and Human Services’ (HHS) August 2023 recommendation to the Drug Enforcement Administration (DEA) to reclassify marijuana from a Schedule I to a Schedule III substance.

So Then: Cornyn took issue with the thoroughness of the scientific scrutiny and research into cannabis, questioning whether the review examined the health impacts of marijuana use on adolescent brains and pregnant women.

So What? The rescheduling decision ultimately falls on the DEA, but the exchange highlighted the ongoing divide in political opinions on cannabis.

WHERE DEALS GET DONE

The Benzinga Cannabis Capital Conference is where deals get done.

With 2,000+ decision-makers in one room, attendees have the chance to engage in a year's worth of networking in just two days. More than 100 CEOs and 200 Investors confirmed for Investment and Branding on April 16th - 18th at The Diplomat Beach Resort in Hollywood, FL.

Boris Jordan, executive chairman of Curaleaf, to deliver Keynote Speech.

ZINGERS

Tilt Holdings' revenue drops YoY, but manages to reduce net loss

Mike Tyson wants to knock you out with CBN-Infused edibles on world sleep day

Vapor Oil Technology looks to advance cannabis quality with 'Crystalline' patent application

Biden under pressure: Grant clemency to federal cannabis prisoners, HHS for answers on barriers to marijuana research

New study finds 11% of high school seniors report using Delta-8 THC, especially in states without legal cannabis

ONE FOR THE ROAD

Briefly: TerrAscend reported fourth-quarter and full-year financials ended Dec. 31, 2023. Here are the key takeaways.

So Basically: The multi-state operator reported $317.3 million in revenue for 2023, a year-over-year sales increase of 28% in 2023.

So Then: TerrAscend reported $31.1 million in cash flow from continuing operations and $23.4 million in free cash flow for 2023. For the fourth quarter, revenue was up 25.5% from the same period a year ago, coming in at $86.6 million.

So What? I am extremely pleased that, for the first time in our history, we generated positive cash flow for a full year," stated Jason Wild, TerrAscend's executive chairman, who will be attending the upcoming Benzinga Cannabis Capital Conference in Florida on April 16 and 17, 2024.

WHERE DEALS GET DONE

The Benzinga Cannabis Capital Conference is where deals get done.

With 2,000+ decision-makers in one room, attendees have the chance to engage in a year's worth of networking in just two days. More than 100 CEOs and 200 Investors confirmed for Investment and Branding on April 16th - 18th at The Diplomat Beach Resort in Hollywood, FL.

Boris Jordan, executive chairman of Curaleaf, to deliver Keynote Speech.

KEEP READING

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