Dernières nouvelles pour Trulieve Cannabis (OTC:TCNNF) Stock

Trulieve Cannabis

Trulieve Cannabis Corp is a vertically integrated seed to sale and fully licensed medical marijuana company. It is mainly engaged in the cultivation, possession, use, sale, and distribution of medical cannabis.

TRULIEVE CANNABIS CORP by Trulieve Cannabis Corporation

Trulieve Cannabis Corp

A political committee opposing Florida&#8217;s cannabis legalization measure has received a $500,000 donation from an organization reportedly linked to Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO <a href="https://www.benzinga.com/topic/elon-musk">Elon Musk</a>'s prior support of Gov.<a href="https://www.benzinga.com/23/05/32545295/ron-desantis-or-tim-scott-elon-musk-says-he-wants-this-person-to-be-next-president"> Ron DeSantis's primary presidential bid</a>. The financial boost comes as the campaign pushing for cannabis legalization crosses $100 million in contributions.
Florida's cannabis legalization initiative, known as&nbsp;Amendment 3, is set to go before Florida voters in&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/04/38034138/florida-supreme-court-approves-cannabis-legalization-proposal-for-november-election-in-blow-to-d" target="_blank" rel="noreferrer noopener">the upcoming November elections</a>.
The Florida branch of the American Civil Liberties Union (ACLU) posted a familiar video while commenting on Musk&#8217;s anti-cannabis move, which is followed by a breakdown of the campaign finance database provided by Florida investigative reporter Jason Garcia, who covers corporate influence in Florida.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">You mean this Elon Musk is against legal cannabis in Florida? Vote yes on Amendment 3 and let's end the drug war in Florida.<a href="https://t.co/8qLhPqTlWA">pic.twitter.com/8qLhPqTlWA</a> <a href="https://t.co/JAMvBnTsyM">https://t.co/JAMvBnTsyM</a>
&mdash; ACLU of Florida (@ACLUFL) <a href="https://twitter.com/ACLUFL/status/1844924362622930994?ref_src=twsrc%5Etfw">October 12, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">Read Also: <a href="EXCLUSIVE: Elon Musk's X Is 'Safe Space' To Say Weed: 'The Only Social Platform Where You Can Talk About Cannabis Openly'">EXCLUSIVE: Elon Musk&#8217;s X Is &#8216;Safe Space&#8217; To Say Weed: &#8216;The Only Social Platform Where You Can Talk About Cannabis Openly&#8217;</a></figcaption></figure>
<h1 class="wp-block-heading"> Musk Money To &#8216;Keep Florida Clean&#8217;?</h1>
The so-called Faithful &amp; Strong Policies, Inc., which is headed by Florida attorney Scott Wagner, made the contribution to <a href="https://www.benzinga.com/markets/cannabis/24/08/40486924/ken-griffins-12m-donation-and-desantiss-anti-cannabis-pacs-face-off-against-pro-legalization-gro">Keep Florida Clean</a>, a group dedicated to defeating Amendment 3, according to <a href="https://dos.elections.myflorida.com/committees/ComDetail.asp?account=88582">campaign filings</a> (seen above). Keep Florida Clean and the&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/06/39565658/desantis-anti-cannabis-florida-freedom-fund-raises-barely-a-fraction-of-legalization-committees-" target="_blank" rel="noreferrer noopener">Florida Freedom Fund</a> are both chaired by James Uthmeier, DeSantis&#8217; chief of staff and former campaign manager when the governor ran for president.
The half-million dollar injection into the anti-legalization campaign comes with just three weeks to go before the election and shortly after a new poll showing majority support for the cannabis measure, though not quite enough to meet the 60% requirement to pass the constitutional amendment. The latest <a href="https://floridapolitics.com/archives/701476-poll-abortion-recreational-pot-measures-have-majority-support-but-just-1-has-enough-backing-to-pass/">NBC 6 poll</a>, conducted from October 1-4 showed 58% of voters support the measure, falling just two points short of the threshold.
That said, the $500,000 pales in comparison to the over $100 million raised by <a href="https://drupal-cloudfront.benzinga.com/topic/smart-safe-florida">Smart &amp; Safe Florida</a>, the committee that helped put the cannabis legalization amendment on the ballot. As of late August, the legalization amendment had pulled in at least $91 million <a href="https://news.ballotpedia.org/2024/09/18/florida-amendment-3-exceeds-previous-records-for-marijuana-legalization-campaign-contributions/">according to Ballotpedia</a>, the vast majority of which was provided by the state's largest medical marijuana operator Trulieve Cannabis Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>).
While Musk's connection to Faithful &amp; Strong Policies at the moment is uncertain, The Wall Street Journal <a href="https://www.wsj.com/politics/policy/elon-musk-political-donations-stephen-miller-desantis-39464294">reported</a> that he previously contributed $10 million to the organization, with about half of that supporting DeSantis's presidential campaign. Marijuana Moment first <a href="https://www.marijuanamoment.net/group-thats-been-backed-by-elon-musk-donates-500000-to-anti-marijuana-legalization-effort-in-florida/">reported</a> this story.
Meanwhile, DeSantis has been actively rallying opposition to the initiative as his administration has faced criticism over a <a href="https://www.benzinga.com/markets/cannabis/24/10/41207561/desantis-state-of-florida-under-fire-for-taxpayer-funded-anti-cannabis-ad-as-new-lawsuit-emerges">taxpayer-funded public service announcement</a> warning of impaired driving in states with legalized cannabis. At the same time, Trulieve <a href="https://www.benzinga.com/markets/cannabis/24/10/41156781/trulieve-sues-florida-gop-for-defamation-over-false-and-misleading-claims-as-cannabis-legalizati">filed a defamation lawsuit </a>against Florida's Republican Party, accusing it of misleading voters about the implications of Amendment 3.
Now Read:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/10/41320395/florida-cannabis-legalization-gains-support-from-former-congressman-citing-economic-growth-publi">Florida Cannabis Legalization Gains Support From Former Congressman, Citing Economic Growth, Public Health</a></li>
</ul>
Photos: Eugenio Cuppone via Pixabay; Shutterstock

Cannabis

News

Legal

TCNNF

TSLA

Elon Musk-Linked Organization Donates $500,000 To Scuttle Florida Cannabis Legalization Amendment

A recent analysis of 14 <a href="https://www.benzinga.com/money/multi-state-operators">multi-state cannabis operators </a>(MSOs) looks at how the potential removal of 280E in 2025 could impact their cash flows.
<a href="https://www.google.com/search?client=safari&amp;rls=en&amp;q=280E+benzinga+cannabis&amp;ie=UTF-8&amp;oe=UTF-8">Section 280E</a> of the U.S. tax code, which prevents cannabis companies from deducting normal business expenses due to federal prohibition, has long been a burden on the industry. If this tax provision were eliminated, cannabis companies would enjoy far better financial health.
<h4 class="wp-block-heading">Breakdown Of The Analysis</h4>
The chart provided by Viridian Capital Advisors shows the projected 2025 sources and uses of cash among the industry&#8217;s top MSOs, with an emphasis on how eliminating 280E could alter their financial standing.
<ul>
<li>EBITDAR (Earnings Before Interest, Taxes, Depreciation and Rent): This is a critical metric because it represents the companies&#8217; operational cash flow, excluding fixed charges.</li>
<li>Additional Cash: Some companies are sitting on significant cash reserves, which serve as a buffer for covering operational needs. This is represented by the black line that shows EBITDAR plus existing cash.</li>
<li>Impact of 280E: The red bars on the chart represent the additional tax expenses cannabis companies are incurring due to 280E. The black bars below reflect the estimated tax liability if 280E were removed. The significant gap between these bars shows how much relief companies could experience.</li>
</ul>
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="943" height="1024" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/12172339/Captura-de-pantalla-2024-10-12-a-las-18.23.16-943x1024.png" alt="" class="wp-image-592495" style="width:637px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/12172339/Captura-de-pantalla-2024-10-12-a-las-18.23.16-943x1024.png 943w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/12172339/Captura-de-pantalla-2024-10-12-a-las-18.23.16-276x300.png 276w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/12172339/Captura-de-pantalla-2024-10-12-a-las-18.23.16-768x834.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/12172339/Captura-de-pantalla-2024-10-12-a-las-18.23.16.png 995w" sizes="(max-width: 943px) 100vw, 943px" /></figure>
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41297836/exclusive-tracking-every-cannabis-deal-is-a-lot-of-fun-says-financial-expert-behind-essential-in">EXCLUSIVE: Tracking Every Cannabis Deal Is &#8216;A Lot Of Fun,&#8217; Says Financial Expert Behind Essential Investor Tool</a>
<h4 class="wp-block-heading">Financial Outlook For Major MSOs</h4>
According to the analysis, six companies, including Green Thumb (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTC">GTBIF</a>), Trulieve (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>), Verano (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VRNOF#OTC">VRNOF</a>), Cresco (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTC">CRLBF</a>), Glass House (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GLASF#OTC">GLASF</a>), and MariMed (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MRMD#OTC">MRMD</a>), are projected to have enough cash flow to cover all fixed charges in 2025, even without the removal of 280E. Notably, every other company except Schwazze (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/SHWZ#OTCQX">SHWZ</a>) would have positive cash flow if 280E were eliminated.
However, while 2025 looks relatively benign for <a href="https://www.benzinga.com/markets/cannabis/24/09/41103899/cannabis-chart-of-the-week-introducing-the-improved-viridian-capital-credit-ranking-model">MSO credit</a>, 2026 could present challenges, with significant debt maturities that many companies will need to refinance, Viridian Capital analysts <a href="https://dealtracker.viridianca.com/chart-of-the-week/">warn</a>.
Additionally, companies like Curaleaf and Trulieve have substantial back taxes recorded as "uncertain tax liabilities," which could become a financial strain depending on how repayment plans are structured.
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can&#8217;t afford to miss out if you're serious about the business.</li>
</ul>
<h4 class="wp-block-heading">What This Means For The Cannabis Industry</h4>
If 280E is eliminated in 2025, the financial outlook for most cannabis companies would significantly improve. Companies would have more flexibility with <a href="https://www.benzinga.com/markets/cannabis/24/10/41237666/exclusive-tax-changes-could-unlock-hundreds-of-millions-in-cash-flow-for-cannabis-sector-experts">cash flow</a> and this relief could lead to higher profitability and more strategic investments. The potential tax reform could mark a turning point for an industry that has struggled under the burden of high taxes and federal prohibition.
<ul>
<li>Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/10/41283230/epic-cannabis-fails-you-should-know-about-medmen-eaze-and-others-go-down-in-california-meltdowns">Epic Cannabis Fails You Should Know About: MedMen, Eaze And Others Go Down In California Meltdowns</a></li>
</ul>
Cover: image generated with IA tools.

Retail Sales

Economics

Markets

CRLBF

GLASF

GTBIF

MRMD

SHWZ

VRNOF

Almost Every Major Cannabis Company Could See Positive Cash Flow If 280E Is Removed In 2025

Trulieve Cannabis Corp. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/TRUL#CSE">TRUL</a>) (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTCQX">TCNNF</a>) will hold a conference call on Tuesday, Nov. 5, 2024, at 8:30 am Eastern Time following the release of its third quarter 2024 financial results.
The Florida-based medical cannabis giant said founder and CEO Kim Rivers and CFO Wes Getman will participate in the call to review the company&#8217;s financial and operating results. 
In August, Trulieve <a href="https://www.benzinga.com/markets/cannabis/24/08/40189647/trulieve-touts-third-consecutive-quarter-of-revenue-growth-narrows-q2-net-loss-97-yoy-launches-c">reported</a> a 2% quarter-over-quarter and 8% year-over-year increase to $303 million in the second quarter, with 95% of the sum coming from retail sales, driven by higher retail traffic and increased wholesale revenue.
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.</li>
</ul>
Earlier this month the company entered into a partnership with Black Buddha Cannabis. The collaboration will debut products from women-owned medical marijuana brands to Trulieve dispensaries in Arizona and Pennsylvania <a href="https://www.benzinga.com/markets/cannabis/24/10/41119212/medical-cannabis-giant-trulieve-partners-with-black-buddha-to-launch-new-marijuana-flower-lines-">starting this fall.</a>
Meanwhile, Trulieve <a href="https://www.benzinga.com/markets/cannabis/24/07/39736004/all-in-trulieve-fuels-florida-campaign-with-another-1m-to-biggest-fund-in-history">has fueled Smart &amp; Safe Florida's push</a> to legalize recreational cannabis in the Sunshine State with at least $55 million in donations. <a href="https://www.benzinga.com/markets/cannabis/24/05/38831325/florida-cannabis-legalization-amendment-ads-hit-airwaves-the-first-4-pitches-for-legal-weed-in-t">Amendment 3</a> will be voted on Nov. 5.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41156781/trulieve-sues-florida-gop-for-defamation-over-false-and-misleading-claims-as-cannabis-legalizati">Trulieve Sues Florida GOP For Defamation Over &#8216;False And Misleading&#8217; Claims As Cannabis Legalization Vote Looms</a>
One of the company&#8217;s latest moves in that direction was filing a defamation lawsuit accusing the Florida Republican Party of intentionally misleading voters with a deceptive TV campaign ad against the cannabis legalization initiative.
Amendment 3 has drawn <a href="https://www.benzinga.com/markets/cannabis/24/10/41264200/forget-trump-vs-harris-floridas-biggest-election-battle-is-over-cannabis-and-its-costing-million">$68 million in ad spending</a>, which is more than any other political cause on the <a href="https://www.benzinga.com/topic/florida-cannabis">Florida ballot.&nbsp;</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/09/41002710/your-cousins-in-florida-like-their-weed-why-hispanic-voters-could-tip-the-scale-for-cannabis-wil">Your Cousins In Florida Like Their Weed: Why Hispanic Voters Could Tip The Scale For Cannabis,Will It Be Enough?</a></li>
<li><a href="https://www.benzinga.com/markets/cannabis/24/08/40586209/cannabis-giant-trulieve-breaks-ground-as-first-cannabis-sponsor-of-u-s-pro-pickleball">Cannabis Giant Trulieve Breaks Ground As First Cannabis Sponsor Of U.S. Pro Pickleball</a></li>
</ul>
<h3 class="wp-block-heading">TCNNF Price Action</h3>
Trulieve's shares traded 2.14% higher at $11.95 per share at the time of writing on Monday.

Earnings

CSE:TRUL

TRUL

Join Trulieve's CEO For Insights On Q3 Financial Performance: Here's When Earnings Call Will Take Place

The chart shows the percentage change in consensus 2024 EBITDA estimates between the end of 2023 and now. The orange bars represent the portion of EBITDA % change attributable to changes in EBITDA Margins, while the blue bars depict the part attributable to changes in revenue estimates.
<img alt="untitled_design_24.png" src="https://www.benzinga.com/files/images/2024/October/14/untitled_design_24.png" style="height:597px; width:624px" />
In aggregate, the group 2024 EBITDA estimates have been revised downward by 4.5% YTD, and 2.7% of that has occurred since the end of the second quarter. The range is quite wide, however, from a 48.3% downward revision for MariMed (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mrmd#OTC">MRMD</a>) to an upward revision of 23.9% for Trulieve (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tcnnf#OTC">TCNNF</a>).
We had expected 2024 revisions to be going in the other direction. At the beginning of the year, we believed that as we got closer to S3, stock prices would begin to move upward, allowing for some modest equity issuance, balance sheet repair, and the beginnings of a new round of expansion. Instead, we have seen virtually no rise in equity prices, little new capital coming into the cultivation and retail sector, and mostly debt refinancing. Tight capital has kept capex and M&amp;A constrained.&nbsp;
Lower estimated EBITDA margins primarily drive all of the downward revisions. Rising costs, wholesale price compression, and continued capital scarcity have continued to have a negative impact.&nbsp;
The five companies on the right-hand side of the chart stand out for having significant upward revisions in estimated 2024 EBITDA margins. Interestingly, three of the five have had negative revenue revisions. They are shedding unprofitable business and focusing on margin improvement.
Despite the downward revisions, it is important to realize that current 2024 EBITDA estimates are still 8.4% above 2023 levels. Furthermore, we still believe S3 will lead to stock price increases and the re-equitization of balance sheets, which in turn will allow for additional growth. Will the December 2nd DEA hearing have an impact, or will investors wait until S3 is wholly accomplished? New rumblings regarding the SAFER Act are encouraging, but we are skeptical that anything will happen in an election year.
As always, cannabis investing requires patience. With huge catalysts in view, investors need to avoid credit traps and not be shaken by adverse short-term price action.
The Viridian Capital Chart of the Week highlights key investment, valuation and M&amp;A trends taken from the Viridian Cannabis Deal Tracker.
The <a href="https://viridianca.us1.list-manage.com/track/click?u=078ead34a8bbcfd77b0486326&amp;id=c89a19f9ee&amp;e=2699f9b787">Viridian Cannabis Deal Tracker</a> provides the market intelligence that cannabis companies, investors, and acquirers utilize to make informed decisions regarding capital allocation and M&amp;A strategy. The Deal Tracker is a proprietary information service that monitors capital raise and M&amp;A activity in the legal cannabis, CBD, and psychedelics industries. Each week the Tracker aggregates and analyzes all closed deals and segments each according to key metrics:
<ul>
<li>
Deals by Industry Sector (To track the flow of capital and M&amp;A Deals by one of 12 Sectors - from Cultivation to Brands to Software)
</li>
<li>
Deal Structure (Equity/Debt for Capital Raises, Cash/Stock/Earnout for M&amp;A) Status of the company announcing the transaction (Public vs. Private)
</li>
<li>
Principals to the Transaction (Issuer/Investor/Lender/Acquirer) Key deal terms (Pricing and Valuation)
</li>
<li>
Key Deal Terms (Deal Size, Valuation, Pricing, Warrants, Cost of Capital)
</li>
<li>
Deals by Location of Issuer/Buyer/Seller (To Track the Flow of Capital and M&amp;A Deals by State and Country)
</li>
<li>
Credit Ratings (Leverage and Liquidity Ratios)
</li>
</ul>
Since its inception in 2015, the Viridian Cannabis Deal Tracker has tracked and analyzed more than 2,500 capital raises and 1,000 M&amp;A transactions totaling over $50 billion in aggregate value.
The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Penny Stocks

General

Cannabis Chart Of The Week: Consensus 2024 EBITDA Estimates Are Still Up 8.4% Despite Downward Revisions

A new campaign ad supporting Florida&#8217;s Amendment 3, which aims to legalize recreational marijuana, features Republican Sen. Joe Gruters addressing critics of the measure.&nbsp;
Titled "Blowing Smoke," the ad counters claims from Governor <a href="https://www.benzinga.com/topic/ron-desantis">Ron DeSantis</a>, who opposes the amendment and has sparked further controversy by refusing to extend the Oct. 7 voter registration deadline during Hurricane Milton evacuations.
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can&#8217;t afford to miss out if you're serious about the business.</li>
</ul>
<h3 class="wp-block-heading">Gruters Reassures Voters On Public Marijuana Use</h3>
Gruters, who led efforts to ban smoking on public beaches, emphasizes that Amendment 3 won't allow for uncontrolled public marijuana use. "Florida will do marijuana legalization the right way," he assures, explaining that public cannabis use will be regulated much like<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39469809/cannabis-vs-coca-cola-and-marlboro-marijuana-market-growth-outpaces-alcohol-tobacco"> tobacco</a>.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Blowing Smoke &#x7C; Vote Yes on Amendment 3!" width="500" height="281" src="https://www.youtube.com/embed/qcn7U-0XEw0?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
<figcaption class="wp-element-caption">Blowing Smoke &#x7C; Vote Yes on Amendment 3 &#8211; Via Smart And Safe Campaign. </figcaption></figure>
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41279305/desantis-rejects-voter-registration-extension-during-hurricane-milton-evacuations-cannabis-compa">DeSantis Rejects Voter Registration Extension During Hurricane Milton Evacuations; Cannabis Companies Close Operations</a>
<h3 class="wp-block-heading">DeSantis Criticized For Hurricane And Voter Registration Response</h3>
Governor DeSantis argues that the amendment could lead to unchecked marijuana use in public spaces. At the same time, his <a href="https://www.benzinga.com/markets/cannabis/24/10/41279305/desantis-rejects-voter-registration-extension-during-hurricane-milton-evacuations-cannabis-compa">refusal to extend the voter registration deadline</a> amid hurricane evacuations has drawn criticism from civil rights groups.&nbsp;
Amy Keith, executive director of Common Cause Florida, pointed out that evacuation orders hindered voter registration efforts. Brad Ashwell from All Voting is Local echoed the concerns, highlighting that many Floridians faced back-to-back hurricanes.
<h3 class="wp-block-heading">Cannabis Operators Prepare For Hurricane Milton</h3>
In addition to the political debate, cannabis companies like Trulieve Cannabis Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>) and Cresco Labs Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTC">CRLBF</a>) have been affected by the storm.&nbsp;
Trulieve shut down 80 stores, while Cresco closed nine dispensaries and a cultivation facility to protect staff and operations ahead of Hurricane Milton.
Read Next:<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41132320/slipping-weed-sales-in-floridas-market-is-this-100m-bet-really-worth-the-hype"> Slipping Weed Sales In Florida&#8217;s Market: Is This $100M Bet Really Worth The Hype?</a>

Health Care

Politics

Fact-Check DeSantis: Why Florida's Weed Legalization Does Not Mean Smoking In Schools

SLANG Worldwide (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SLGWF#OTC">SLGWF</a>), the cannabis company known for popular brands like O.pen and Firefly, is in the midst of a financial crisis, facing a $17.3 million debt repayment deadline on November 15, 2024. 
The company <a href="https://www.newsfilecorp.com/release/226122/SLANG-Worldwide-Enters-into-Waiver-and-Support-Agreement-with-Secured-Lenders-in-Anticipation-of-Upcoming-Maturity-Date?k=cannabis">announced</a> a deal with its lenders, agreeing to pay $1.75 million upfront and provide frequent financial updates to avoid immediate action.
This situation goes back to a 2021 <a href="https://www.benzinga.com/markets/cannabis/24/08/40602390/slang-cannabis-co-explores-strategic-alternatives-amid-q2-2024-revenue-drop-and-cash-flow-challe">financing arrangement</a>, where SLANG secured the $17.3 million loan from Trulieve Cannabis Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>), Pura Vida Investments, and Seventh Avenue Investments (the current ownership of this loan was not declared in the statement, and could have varied).
The funds were primarily intended to boost operations in Vermont, a key part of SLANG&#8217;s long-term growth strategy. However, the <a href="https://www.benzinga.com/topic/cannabis-market">cannabis market</a>&#8216;s downturn since 2021 has derailed these plans.
As the debt deadline approaches, SLANG has admitted it may not be able to repay the loan in full. The company is now considering drastic measures, including selling assets, further downsizing, or potentially winding down its operations. Financial advisory firm B. Riley Farber Inc. has been hired to help guide SLANG through this critical period.
Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/09/41053445/cannabis-companies-delisted-from-major-stock-exchanges-in-2024-what-went-wrong">Cannabis Companies Delisted From Major Stock Exchanges In 2024: What Went Wrong?</a>
<h3 class="wp-block-heading">Financial Fragility</h3>
SLANG's financial struggles were further highlighted in its <a href="https://www.benzinga.com/markets/cannabis/24/08/40602390/slang-cannabis-co-explores-strategic-alternatives-amid-q2-2024-revenue-drop-and-cash-flow-challe">second-quarter 2024 </a>earnings report, which revealed a 26% year-over-year revenue drop to CA$6.28 million ($4,57 million). Declining sales in key markets, including a CA$1.27 million decrease in Vermont and a CA$0.51 million drop in Colorado, have significantly impacted the company's cash flow.
In addition, SLANG reported a comprehensive loss of CA$11.5 million for the quarter, more than double the loss recorded in the same period of 2023. Gross profit fell by 38%, and cash reserves dwindled to CA$6.75 million, down from CA$9.04 million at the start of the year. CEO John Moynan acknowledged the challenges, stating that "increased competitive headwinds&#8230; have led to a decline in sales revenue, gross profit, and Adjusted EBITDA."
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can't afford to miss out if you&#8217;re serious about the business.</li>
</ul>
<h3 class="wp-block-heading">SLANG Stock Action</h3>
As of this writing, SLANG&#8217;s stock was trading 40.24% at $0058 per share at the close of the market on Thursday.
<ul>
<li>Read Next:<a href="https://www.benzinga.com/markets/cannabis/24/08/40472205/after-months-of-capital-crunch-cannabis-company-lotus-ventures-completes-sale-and-delisting"> After Months Of Capital Crunch, Cannabis Company Lotus Ventures Completes Sale And Delisting</a></li>
</ul>

Contracts

 SLGWF

Global Cannabis Consumer Packaged Goods SLANG At Risk: $17.3M Debt And Revenue Drops Spell Trouble

Florida cannabis businesses began closing down in preparation for <a href="https://www.benzinga.com/topic/hurricane-milton">Hurricane Milton</a>, which hit the state's west coast late Wednesday. Despite the storm&#8217;s looming threat, Governor <a href="https://www.benzinga.com/topic/ron-desantis">Ron DeSantis </a>refused to extend the Oct. 7 voter registration deadline, even as millions were forced to evacuate their homes. In addition to the <a href="https://www.benzinga.com/topic/2024-election">Nov. 5 presidential elections</a>, Floridians will vote on a cannabis legalization initiative <a href="https://www.benzinga.com/markets/cannabis/24/04/38034138/florida-supreme-court-approves-cannabis-legalization-proposal-for-november-election-in-blow-to-d">known as Amendment 3.</a>
"People can register today," DeSantis said Monday. "There's nothing inhibiting you from registering today. The storm has not hit yet." 
This did not sit well with some voters and civil rights groups.
"The governor said that there was nothing inhibiting people from registering yesterday, while we had parts of the state under mandatory evacuation orders," Executive Director of Common Cause Florida Amy Keith <a href="https://floridaphoenix.com/2024/10/08/voting-rights-group-unhappy-that-registration-deadline-isnt-extended-with-milton-approaching/">told</a> the Florida Phoenix. "We had folks desperately trying to board up their houses and, as I said, really trying to clear out the debris from Hurricane Helene so that it doesn't get picked up by the winds that are coming from Hurricane Milton."
DeSantis, by the way, has been vehement <a href="https://www.benzinga.com/markets/cannabis/24/06/39455304/desantis-fierce-opposition-notwithstanding-floridas-cannabis-legalization-amendment-shatters-all">in his opposition</a> to the cannabis legalization amendment.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/10/41276280/hurricane-milton-closes-multiple-florida-airports-over-3-000-flights-canceled-and-delayed-10-air">Hurricane Milton Closes Multiple Florida Airports, Over 3,000 Flights Canceled And Delayed: 10 Airline Stocks That Could Be Hit Hardest</a>
Brad Ashwell, Florida state director with All Voting is Local, told the Florida Phoenix that by not extending the voter registration deadline, the state is excluding thousands of Floridians from the process.
"Many Florida voters are facing back-to-back hurricanes and the state could have done the bare minimum in suspending the deadline, as has been done in the past. This continues a disturbing trend of efforts from state officials to discourage and undermine voter registration efforts by community organizations," he said, according to the outlet.
Meanwhile, cannabis operators have taken steps to protect their businesses and employees, <a href="https://mjbizdaily.com/florida-cannabis-businesses-shut-down-halt-delivery-as-hurricane-milton-nears/">noted</a> MJBiz Daily.
Chicago-based Cresco Labs (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTC">CRLBF</a>) closed nine of its dispensaries and a cultivation facility to give staff time to prepare. Trulieve Cannabis Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>) shut down 80 stores, closed another 26 early, and stopped deliveries from at least 20 locations. Ayr Wellness (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AYRWF#OTC">AYRWF</a>) closed 56 of its 66 stores and paused operations at its cultivation site. Similarly, Verano Holdings Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VRNOF#OTC">VRNOF</a>) shut down 37 Müv dispensaries by Wednesday, planning for 55 more closures by Thursday.
Now Read:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41255036/hurricane-milton-inmates-help-florida-residents-prepare-by-filling-sandbags">Hurricane Milton: Inmates Help Florida Residents Prepare By Filling Sandbags</a></li>
</ul>
Photo: Shutterstock

Government

AYRWF

DeSantis Rejects Voter Registration Extension During Hurricane Milton Evacuations; Cannabis Companies Close Operations

<h2 class="wp-block-heading">Cannabis Legalization Draws More Ad Dollars Than Presidential Race</h2>
As the 2024 election season heats up, Florida&#8217;s presidential ad spending has taken a sharp decline, with cannabis legalization emerging as the dominant issue in the state.&nbsp;
According to media tracking firm AdImpact, just $1.4 million has been spent on TV ads for the presidential race between Kamala Harris and Donald Trump in Florida—down significantly from previous cycles.&nbsp;
By comparison, the 2016 presidential election saw $55 million in TV ad spending, while 2020 saw $177 million.
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can&#8217;t afford to miss out if you're serious about the business.</li>
</ul>
<h3 class="wp-block-heading">$68 Million Poured Into Cannabis Legalization</h3>
In stark contrast, Amendment 3, which seeks to legalize cannabis, has drawn an enormous $68 million in ad spending—more than any other political cause on the <a href="https://www.benzinga.com/topic/florida-cannabis">Florida ballot</a>.&nbsp;
Local media <a href="https://www.news-journalonline.com/story/news/politics/elections/2024/10/08/florida-presidential-election-amendments-marijuana-abortion-tv-ads/75513759007/">reported</a> Trulieve Cannabis Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>), has spent $55 million in support of the amendment through its backing of the group Smart &amp; Safe Florida.&nbsp;
<a href="https://www.benzinga.com/markets/cannabis/24/10/41207561/desantis-state-of-florida-under-fire-for-taxpayer-funded-anti-cannabis-ad-as-new-lawsuit-emerges">Opponents of the amendment</a>, including the Florida Republican Party and No on 3 have spent a combined $11.7 million to defeat the measure.
Read Also:<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41132320/slipping-weed-sales-in-floridas-market-is-this-100m-bet-really-worth-the-hype"> Slipping Weed Sales In Florida&#8217;s Market: Is This $100M Bet Really Worth The Hype?</a>
<h3 class="wp-block-heading">Slashing Budgets&nbsp;</h3>
Florida&#8217;s once-crucial status as a battleground state has faded, with both major parties slashing presidential campaign budgets. Harris has spent only $539,000 on TV ads in the state, while Donald Trump and national Republicans have virtually ignored it, confident they will secure Florida&#8217;s 30 electoral votes.&nbsp;
In contrast, local media reported the <a href="https://www.benzinga.com/markets/cannabis/24/09/41002710/your-cousins-in-florida-like-their-weed-why-hispanic-voters-could-tip-the-scale-for-cannabis-wil">state remains a battleground </a>for social issues. Alongside the cannabis initiative, Amendment 4, which aims to protect abortion rights, has drawn $32.8 million in ad spending.
With over $100 million spent on these two amendments, it's clear that cannabis and abortion rights are <a href="https://www.benzinga.com/markets/cannabis/24/10/41149545/trump-harris-vance-and-walz-agree-on-this-end-cannabis-criminalization-in-florida">capturing the attention—and dollars</a>—of <a href="https://www.benzinga.com/topic/florida-cannabis">Florida </a>voters far more than the presidential race.
Read Next:<a href="https://www.benzinga.com/markets/cannabis/24/09/40712816/what-trump-learned-about-marijuana-that-desantis-did-not-and-why-the-gop-might-become-weed-frien"> What Trump Learned About Marijuana That DeSantis Did Not And Why The GOP Might Become Weed-Friendly</a>

Market Summary

Regulations

Forget Trump Vs. Harris – Florida's Biggest Election Battle Is Over Cannabis, And It's Costing Millions

Rosie Mattio, founder and CEO of Mattio Communications, and Jason Erkes, chief communications officer at Cresco Labs (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTC">CRLBF</a>), both agreed that throughout their many years in public affairs and communications, they'd never seen anything quite like Florida's cannabis legalization campaign in support of <a href="https://www.benzinga.com/markets/cannabis/24/04/38034138/florida-supreme-court-approves-cannabis-legalization-proposal-for-november-election-in-blow-to-d" target="_blank" rel="noreferrer noopener">Amendment 3</a>.
"Massive…massive," said Erkes at the <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Capital Conference</a> on Oct. 9. The panel was &#8220;One Month Out: Inside Florida&#8217;s Record-Breaking Adult-Use Legalization Effort.&#8221;
Erkes noted the <a href="https://drupal-cloudfront.benzinga.com/topic/smart-safe-florida" target="_blank" rel="noreferrer noopener">Smart &amp; Safe Florida</a>&nbsp;campaign raised at least $100 million to get the word out.&nbsp;Indeed, Amendment 3 is the best-funded cannabis legalization amendment in American history, surpassing the previous record set by&nbsp;<a href="https://www.benzinga.com/markets/cannabis/20/04/15926183/two-years-after-prop-64-california-cannabis-industry-at-a-crossroads" target="_blank" rel="noreferrer noopener">California's 2016 Proposition 64.</a>
Amendment 3 will go before Florida voters this coming&nbsp;<a href="https://www.benzinga.com/topic/2024-election" target="_blank" rel="noreferrer noopener">November</a>.
<h1 class="wp-block-heading">Getting The Word Out Like None Other</h1>
One of the campaign's strengths, said Mattio, was that it meets people where they are — in the towns and communities across Florida — and the reception has been positive. People relate to issues such as criminal justice reform and freedom of choice. They don't necessarily need to be cannabis consumers to get behind these basic concepts, Mattio said. Not to mention that medical marijuana has been legal in Florida for a decade and its success "has been an example of what a good program looks like," she added.
Mattio and Erkes had the highest praise for Smart &amp; Safe's nearly 800 satellite offices all over Florida, the thousands of lawn signs, the campaign's 13 TV ads and of course making sure people were registered to vote. "It's a political campaign, after all," Erkes said.
<h1 class="wp-block-heading">Speaking Of TV Ads &nbsp;</h1>
Panel moderator Bryna Dahlin asked about the recent lawsuits popping up in Florida. There's the <a href="https://www.benzinga.com/markets/cannabis/24/10/41156781/trulieve-sues-florida-gop-for-defamation-over-false-and-misleading-claims-as-cannabis-legalizati">defamation lawsuit</a> launched by Trulieve Cannabis Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>) accusing the Florida Republican Party of intentionally misleading voters with a deceptive TV campaign ad. 
That lawsuit alleges that the TV ad in question misleads voters by implying that only large cannabis companies, such as Trulieve will benefit from marijuana legalization. 
Then there's Florida state Sen. Jason Pizzo&nbsp;(D) who is <a href="https://www.benzinga.com/markets/cannabis/24/10/41207561/desantis-state-of-florida-under-fire-for-taxpayer-funded-anti-cannabis-ad-as-new-lawsuit-emerges">suing the State of Florida</a> for misusing taxpayer dollars to fund an ad produced by the&nbsp;Florida Department of Transportation opposing Amendment 3.
"I generally don't think it's a good idea to poke the bear," said Erkes, but in this case "one way to discredit a false narrative is to launch a lawsuit." In fact, it's a great PR campaign, he added.
Now Read: 
<ul>
<li>EXCLUSIVE: <a href="https://www.benzinga.com/markets/cannabis/24/10/41258536/exclusive-cannabis-companies-must-get-more-juice-from-the-same-squeeze-says-cresco-labs-ceo-as-c">Cannabis Companies Must &#8216;Get More Juice From The Same Squeeze,&#8217; Says Cresco Labs CEO As Challenges Persist</a></li>
</ul>
Photo: Benzinga Cannabis Capital Conference, Oct. 9, 2024, Photo by Wendy Davis

Events

Exclusives

EXCLUSIVE: 'Poking The Bear' As Florida's Contentious Cannabis Legalization Vote Looms

The Miami Herald, one of Florida&#8217;s oldest newspapers and recipient of 24 Pulitzer Prizes endorsed the state's cannabis legalization initiative, known as&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/04/38034138/florida-supreme-court-approves-cannabis-legalization-proposal-for-november-election-in-blow-to-d" target="_blank" rel="noreferrer noopener">Amendment 3</a>, which will go before <a href="https://www.benzinga.com/topic/2024-election" target="_blank" rel="noreferrer noopener">voters on Nov. 5.</a>
"For more than half a century, America has been fighting a war on drugs that most people agree has failed. It focused too often on street arrests of young people of color who spent years in prison for small amounts of marijuana while violent cartels bringing in opioids, cocaine and fentanyl &#8211; among the most dangerous drugs &#8211; continued doing business," <a href="https://www.miamiherald.com/opinion/election-recommendations/article293659794.html">wrote</a> the newspaper's editorial board on Tuesday.
"Now Floridians have a chance to help police direct their resources to where they will matter more &#8211; to combat killer drugs &#8211; and allow the legal use of marijuana products for adults 21 and older. This can be done with proper monitoring, just as the state oversees the sale of alcohol and tobacco products."
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41207561/desantis-state-of-florida-under-fire-for-taxpayer-funded-anti-cannabis-ad-as-new-lawsuit-emerges">DeSantis, State Of Florida Under Fire For Taxpayer-Funded Anti-Cannabis Ad As New Lawsuit Emerges</a>
<h2 class="wp-block-heading">Cannabis Generates Millions In Annual Tax Revenue</h2>
Founded in 1903 by Frank B. Stoneman, the father of journalist and women&#8217;s suffrage advocate Marjory Stoneman Douglas, the newspaper pointed to the economic potential of legalization, citing the <a href="https://www.benzinga.com/markets/cannabis/23/07/33255155/ron-desantis-and-florida-lawmakers-estimate-legal-weed-will-generate-at-least-500m-in-tax-revenu">Florida Financial Impact Estimating Conference</a>, which predicts the state could generate $200 million in sales tax revenue in the first year rising to $431 million annually.
"That money could be used for whatever the Florida legislature determines is appropriate. One priority, though, must be an education campaign to ensure that minors do not use marijuana."
The Legislature, notes the endorsement, should consider excise taxes on marijuana, similar to those imposed on alcohol and tobacco, to further regulate the industry.
The Miami Herald acknowledged concerns that have been raised by opponents. For instance, critics says the amendment gives existing medical marijuana companies such as Trulieve Cannabis Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>) significant control over the market. Critics also note that the amendment does not explicitly allow home-growing, though the Miami Herald points out that &#8220;constitutional scholars counter that the legislature can allow people to grow their own plants and the state can set limits."
On other fronts, Amendment 3 offers legal protections for recreational users similar to those for medical marijuana users and state laws would continue to address driving under the influence and public consumption.
In the end, "The Miami Herald Editorial Board recommends voting&nbsp;YES&nbsp;on Amendment 3 for the safe and regulated use of recreational marijuana for adults."
Now Read:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/09/40925596/david-portnoys-viral-push-for-floridas-marijuana-amendment-3-calls-for-freedom-to-smoke-weed-eat">David Portnoy&#8217;s Viral Push For Florida&#8217;s Marijuana Amendment 3 Calls For Freedom To Smoke Weed, Eat Pizza, Watch Football</a></li>
</ul>
Photo: Shutterstock

Media

Miami Herald Endorses Florida Cannabis Legalization, Highlights Failed Drug War, Revenue Potential

Zuanic &amp; Associates hosted an online panel, &#8220;The Hemp Derivatives Advocates&#8221; that brought together key players in the hemp industry to discuss the regulatory challenges around <a href="https://www.benzinga.com/markets/cannabis/24/09/40956859/hemp-derived-products-like-delta-8-thc-are-here-to-stay-says-analyst">hemp-derived products</a>.
In the midst of this national discussion, Christopher Lackner, president of the Hemp Beverage Alliance, JD McCormick, chairman of the American Healthy Alternatives Association, and Jonathan Miller, general counsel of the U.S. Hemp Roundtable, advocated a united front to face growing hemp restrictions. The <a href="https://www.benzinga.com/topic/florida-cannabis">situation</a> in Florida got particular attention.
McCormick emphasized the impressive growth of hemp-derived products. Citing a sales report from Whitney Economics, he estimated the industry in the zone of $2.8 billion dollars a year. 
&#8220;Many hemp retailers in states like Florida, Georgia, Tennessee, North and South Carolina are doing hundreds of thousands of dollars in sales at the retail level a month, many millions of dollars a year,&#8221; he said.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39820619/strategy-shift-in-the-works-are-cannabis-giants-getting-into-the-hemp-derived-thc-market">Strategy Shift In The Works? Are Cannabis Giants Getting Into The Hemp Derived-THC Market?</a>
<h3 class="wp-block-heading">Proliferation Of THC Beverages </h3>
Lackner spoke about the potential of the <a href="https://www.benzinga.com/markets/cannabis/24/08/40509701/hemp-derived-thc-beverages-navigating-regulatory-uncertainty-in-a-potential-13-5b-market">hemp beverage market</a>, which continues to gain momentum despite its relatively small size.
&#8220;There isn&#8217;t a Budweiser or a PepsiCo out there quite yet,&#8221; Lackner said, &#8220;but we are seeing a lot of national and international brands really beginning to eke their way out.&#8221; He referenced emerging brands such as Rebel Rabbit, Cycling Frog and Mary Jones Soda, predicting they&#8217;ll soon be common names in stores across the country.
He added that hemp-derived THC beverages are finding their way <a href="https://www.benzinga.com/markets/cannabis/24/08/40225540/summer-sizzles-with-thc-infused-beverages-market-report-reveals-top-selling-weed-drinks-in-u-s">into new markets</a>. &#8220;New liquor stores, new chains…they&#8217;re coming for THC beverages.&#8221; he said, emphasizing the category&#8217;s potential to revolutionize the adult beverage sector. 
<h3 class="wp-block-heading">Can Hemp Thrive In Legal Cannabis Markets?</h3>
&#8220;Absolutely not,&#8221; said McCormick when asked if cannabis prohibition was beneficial to hemp derivatives products.
&#8220;Probably the best example of this is the state of Illinois. Some of the largest recreational marijuana operators in the country exist in Chicago, Illinois. You also have thousands and thousands of hemp retailers, and distributors, some of the largest distributors in the United States in the hemp space are based there," he said.
Despite its growth, the hemp industry is grappling with regulatory threats in several states.
Miller addressed the situation in <a href="https://www.benzinga.com/markets/cannabis/24/08/40323184/missouri-governors-thc-ban-threatens-9-000-retailers-statewide-amid-nationwide-clampdown-on-hemp">Missouri</a> and <a href="https://www.benzinga.com/markets/cannabis/24/09/41012794/gov-newsoms-hemp-ban-goes-into-effect-consequences-for-industry-investors-patients">California</a> where authorities are restricting or banning hemp products. He introduced the idea of a coalition of big cannabis players being behind some of these hemp bans.
Florida&#8217;s Governor Ron DeSantis recently <a href="https://www.benzinga.com/markets/cannabis/24/06/39243424/desantis-vetoes-bill-that-would-regulate-intoxicating-hemp-in-lifeline-to-industry-as-he-bashes-">vetoed</a> legislation that would have severely restricted hemp activity. Hemp groups are actively <a href="https://www.benzinga.com/markets/cannabis/24/07/39760907/ron-desantis-floridas-gop-and-hemp-industry-pile-on-to-defeat-marijuana-legalization">opposing</a> a cannabis legalization initiative, knows as Amendment 3.
McCormick linked Amendment 3 to what he called a cannabis monopoly and criticized the market domination of large cannabis companies, arguing that they use their influence to rig the market at the expense of smaller hemp operators.
&#8220;There are dozens upon dozens of marijuana lobbyists in the state of Florida. And so if you think that the limited licenses and monopolistic privileges of some of these companies&#8230;if you think that Tiger is going to change its stripes after they get recreational marijuana, I would argue that the opposite is true,&#8221; McCormick said. &#8220;They&#8217;re going to say, okay, we&#8217;ve got constitutional protection. Now let&#8217;s double and triple the lobbying efforts. Let&#8217;s solidify our monopolistic goals here.&#8221;
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can&#8217;t afford to miss out if you're serious about the business.</li>
</ul>
<h3 class="wp-block-heading">A Call For Thoughtful Hemp Regulation</h3>
Looking ahead, the panelists agreed on the need for clear and fair federal regulation. 
They pointed to Senator Ron Wyden's <a href="https://www.benzinga.com/markets/cannabis/24/09/41069354/synthetic-cannabinoids-could-be-federally-banned-under-new-senate-bill-to-regulate-hemp-derived-">Cannabinoid Safety and Regulation Act </a>as a potential guide for managing hemp-derived products.
&#8220;It would ensure that products are properly, appropriately age-gated…and provide transparency when it comes to what&#8217;s in the product,&#8221; Miller explained.
&#8220;That&#8217;s the blueprint,&#8221; he added.
<ul>
<li>Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/09/40698576/navigating-hemp-vs-cannabis-debate-one-agenda-for-all-us-cannabis-councils-david-culver-weighs-i">Navigating Hemp Vs. Cannabis Debate: One Agenda For All? US Cannabis Council&#8217;s David Culver Weighs In</a></li>
</ul>
Cover: AI generated image

Experts Link Florida's Cannabis Legalization Effort To 'Monopolistic Goals,' Offer A Blueprint For Hemp Regulation

Florida state Sen. Jason Pizzo (D) filed a court order Friday against the State of Florida for misusing taxpayer dollars to fund an ad opposing a cannabis legalization initiative, known as <a href="https://www.benzinga.com/markets/cannabis/24/04/38034138/florida-supreme-court-approves-cannabis-legalization-proposal-for-november-election-in-blow-to-d" target="_blank" rel="noreferrer noopener">Amendment 3</a> that will go before <a href="https://www.benzinga.com/topic/2024-election">the voters on Nov. 5.</a>
The ad, produced by the Florida Department of Transportation (FDOT), <a href="https://www.benzinga.com/markets/cannabis/24/09/41036799/desantis-provokes-outrage-over-taxpayer-funded-ads-linking-marijuana-legalization-to-car-crashes">warns against the dangers of driving</a> under the influence of cannabis. In the middle of the 30-second video warning viewers not to drive high, the narrator says, &#8220;DUI crashes increase in states with legalized marijuana, putting everyone at risk.&#8221;
Pizzo, a likely candidate for governor in 2026, and quite a few other Floridians took exception to the funding source of the PSA.
"Our challenge is to FDOT's [the Florida Department of Transportation] misuse of taxpayer dollars to influence the election as violating the appropriations power under the Florida Constitution," Pizzo said in a text message <a href="https://floridianpress.com/2024/10/pizzo-to-file-court-order-against-floridas-alleged-use-of-taxpayer-dollars-in-anti-marijuana-campaign/">reported</a> by The Floridian. "There is no appropriation for FDOT to spend money on elections."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I have directed our team to return and reject all contributions from Florida insurance companies. We'll also seek an injunction against the state's use of taxpayer (your) money for political messaging. For years, our state has wasted precious time, and many millions, peddling…
&mdash; Sen. Jason Pizzo (@senpizzo) <a href="https://twitter.com/senpizzo/status/1842004185027412321?ref_src=twsrc%5Etfw">October 4, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/41036799/desantis-provokes-outrage-over-taxpayer-funded-ads-linking-marijuana-legalization-to-car-crashes">DeSantis Provokes Outrage Over Taxpayer-Funded Ads Linking Marijuana Legalization To Car Crashes</a>
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.</li>
</ul>
<h2 class="wp-block-heading">DeSantis Pulling The Anti-Cannabis Campaign Strings</h2>
Once the ad hit the airwaves, <a href="https://drupal-cloudfront.benzinga.com/topic/smart-and-safe-florida">Smart and Safe Florida</a>, the organization that helped get Amendment 3 on the ballot, <a href="https://www.benzinga.com/markets/cannabis/24/09/41036799/desantis-provokes-outrage-over-taxpayer-funded-ads-linking-marijuana-legalization-to-car-crashes">sent cease and desist letters</a> to 54​​ TV stations running the ad, calling it state-funded political propaganda and a &#8220;ruse to obtain the highly discounted rates&#8221; for airing PSAs.
The advocacy group accused Gov. <a href="https://www.benzinga.com/topic/ron-desantis" target="_blank" rel="noreferrer noopener">Ron DeSantis</a> (R) and the GOP-backed <a href="https://www.benzinga.com/markets/cannabis/24/07/39873861/desantis-backed-group-launches-to-defeat-cannabis-legalization-in-florida-gop-bigwigs-are-all-in">Vote No on 3 political committee</a> of using state resources to channel the message through a government agency, amplifying an opposition talking point at a lower cost.
Pizzo, the incoming Senate Minority Leader, apparently couldn't agree more.
"While coddled special interests have bankrolled the political crusades of a few, most of our constituents are worse off than they were yesterday, last week, and last year," Pizzo said in the X post. "We work for you, not them."
<h2 class="wp-block-heading">Oh Yeah, There&#8217;s Another Lawsuit</h2>
Meanwhile, medical marijuana giant Trulieve Cannabis Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>) is <a href="https://www.benzinga.com/markets/cannabis/24/10/41156781/trulieve-sues-florida-gop-for-defamation-over-false-and-misleading-claims-as-cannabis-legalizati">suing the Florida Republican Party</a> for "false and misleading" claims and for intentionally misleading voters with what it calls a deceptive TV campaign ad against the cannabis legalization initiative.
Read More:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/10/41156781/trulieve-sues-florida-gop-for-defamation-over-false-and-misleading-claims-as-cannabis-legalizati">Trulieve Sues Florida GOP For Defamation Over &#8216;False And Misleading&#8217; Claims As Cannabis Legalization Vote Looms</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

DeSantis, State Of Florida Under Fire For Taxpayer-Funded Anti-Cannabis Ad As New Lawsuit Emerges

Trulieve Cannabis Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>) filed a defamation lawsuit on Wednesday, accusing the Florida Republican Party of intentionally misleading voters with a deceptive TV campaign ad against the cannabis legalization initiative, known as <a href="https://www.benzinga.com/markets/cannabis/24/04/38034138/florida-supreme-court-approves-cannabis-legalization-proposal-for-november-election-in-blow-to-d" target="_blank" rel="noreferrer noopener">Amendment 3</a> that will go before the voters this coming <a href="https://www.benzinga.com/topic/2024-election" target="_blank" rel="noreferrer noopener">November</a>. 
The lawsuit alleges that the ad misleads voters by falsely implying that only large cannabis companies, like Trulieve will benefit from the legalization measure, while ordinary Floridians would be prohibited from growing their own marijuana.
The ad features a gardener apparently excited by the news of marijuana legalization but is then interrupted by a character called &#8220;Big Weed,&#8221; who claims that only large corporations can legally grow cannabis under the proposed amendment.
Trulieve's legal team argues that the &#8220;Big Weed&#8221; character is a clear reference to their company, Florida's largest medical marijuana operator, which has <a href="https://www.benzinga.com/markets/cannabis/24/08/40486924/ken-griffins-12m-donation-and-desantiss-anti-cannabis-pacs-face-off-against-pro-legalization-gro">contributed more than $90 million</a> to the cannabis legalization campaign. The lawsuit contends that this narrative is not only false but strategically designed to deceive voters into believing that Amendment 3 would create a monopoly for already established cannabis companies.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41149545/trump-harris-vance-and-walz-agree-on-this-end-cannabis-criminalization-in-florida">Trump, Harris, Vance And Walz Agree On This: End Cannabis Criminalization In Florida</a>
<h3 class="wp-block-heading">Home Cultivation Controversy</h3>
The issue of home cultivation <a href="https://www.benzinga.com/markets/cannabis/24/08/40496563/ron-desantis-staffer-peeved-flordias-cannabis-legalization-initiative-has-no-home-grow-provision">has become a point of contention</a> in the debate over Amendment 3. Opponents say the amendment will solidify the dominance of the state's licensed medical marijuana operators like Trulieve by allowing them to control the recreational weed market.
However, Trulieve's lawsuit contends that the proposed amendment does not address nor change the existing ban on home cultivation of marijuana. According to the company, the controversial TV ad falsely suggests otherwise.
<h3 class="wp-block-heading">DeSantis And Florida GOP On The War Path</h3>
The lawsuit also highlights a mailer distributed by the Republican Party of Florida, which accuses "mega marijuana corporations" of orchestrating a &#8220;power grab&#8221; to eliminate competition and cement their monopoly. 
Florida Governor Ron DeSantis (R) <a href="https://www.benzinga.com/markets/cannabis/24/08/40642418/florida-cannabis-legalization-gains-momentum-64-of-likely-voters-support-amendment">has claimed that Trulieve authored</a> the amendment and is creating a "de facto monopoly&#8221; and &#8220;weed cartel.&#8221;
Trulieve's lawyers assert, <a href="https://www.miamiherald.com/news/politics-government/state-politics/article293383819.html">according</a> to the Miami Herald, that this claim is equally misleading, and that the amendment would actually enable the state Legislature to expand the number of licensed marijuana operators, thereby increasing competition in the market.
<h3 class="wp-block-heading">GOP: Lawsuit Is &#8216;Overreaction&#8217;</h3>
Republican Party of Florida representative Anthony Power dismissed the lawsuit as an overreaction. "It's funny that a company that spends almost $100 million on a political campaign is so sensitive about honest TV ads," Power said in a statement, per the outlet. He characterized the lawsuit as an attempt to silence critics and vowed to continue opposing the measure.
In filing the lawsuit, Trulieve said it is seeking "to set the record straight, to vindicate its rights under civil law, to hold the defendants accountable for deceiving voters, and to recover compensatory and punitive damages."  
With voting by mail already underway in Florida, this will surely be an ongoing story, so stay tuned.
Now Read:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/09/41036799/desantis-provokes-outrage-over-taxpayer-funded-ads-linking-marijuana-legalization-to-car-crashes">DeSantis Provokes Outrage Over Taxpayer-Funded Ads Linking Marijuana Legalization To Car Crashes</a></li>
</ul>

Trulieve Sues Florida GOP For Defamation Over 'False And Misleading' Claims As Cannabis Legalization Vote Looms

Despite pouring millions into the push for adult-use cannabis legalization, Florida's cannabis market is showing signs of strain.&nbsp;
According to a recent report from <a href="https://www.benzinga.com/topic/beacon-securities-limited">Beacon Securities</a>, financial backing for the legalization campaign has surged, yet dispensary sales have slipped during the third quarter of 2024.&nbsp;
Companies like Trulieve Cannabis Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>) and Curaleaf Holdings Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>) are leading the charge with significant contributions, but the growing number of dispensaries and external factors, such as Hurricane Helene, have raised questions about whether the market's fundamentals justify the hype.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can't afford to miss out if you&#8217;re serious about the business.</li>
</ul>
<h3 class="wp-block-heading">Turbocharged</h3>
The <a href="https://www.benzinga.com/markets/cannabis/24/09/41036799/desantis-provokes-outrage-over-taxpayer-funded-ads-linking-marijuana-legalization-to-car-crashes">Smart &amp; Safe Florida </a>campaign, responsible for spearheading the adult-use legalization efforts, received a significant financial push in September.&nbsp;
According to the report by analysts Doug Cooper, Russell Stanley and Donangelo Volpe, Trulieve Cannabis recently added $9.5 million to its contributions, while Curaleaf contributed $1 million. To date, the campaign has raised over $100 million, with more than $24 million still available. 
<h3 class="wp-block-heading">Diluted Growth</h3>
Per-dispensary sales in <a href="https://www.benzinga.com/markets/cannabis/24/09/41002710/your-cousins-in-florida-like-their-weed-why-hispanic-voters-could-tip-the-scale-for-cannabis-wil">Florida</a> showed signs of softening during Q3, impacted by an increasing number of dispensaries and temporary disruptions like Hurricane Helene.&nbsp;
The state saw a 4% quarter-over-quarter (q/q) rise in dispensaries, with nine companies adding a total of 26 new locations.&nbsp;
According to the report, Trulieve alone accounted for 12 of these openings.&nbsp;
Overall, flower sales volume in the state increased 3% q/q, while oil-based product sales dipped 1%, with both categories showing slower growth compared to the previous quarter.
On a per-dispensary basis, flower sales volumes slipped 1% q/q, while oil-based product sales fell 5%.&nbsp;
These figures likely reflect the increased competition from <a href="https://www.benzinga.com/markets/cannabis/24/09/40990665/cannabis-sales-bloom-in-first-north-carolina-weed-store-marijuana-footprint-in-florida-grows-as-">new dispensaries</a> and effect of storm-related closures.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/40774795/trump-says-hell-reschedule-cannabis-if-elected-backs-marijuana-banking-reform-and-floridas-amend">Trump Says He&#8217;ll Reschedule Cannabis If Elected, Backs Marijuana Banking Reform And Florida&#8217;s Amendment</a>
<h3 class="wp-block-heading">Top Players See Mixed Results&nbsp;</h3>
Trulieve, the dominant player in <a href="https://www.benzinga.com/markets/cannabis/24/09/40969689/desantis-urges-gop-to-oppose-cannabis-legalization-as-party-splits-over-trump-marijuana-endorsem">Florida</a>, maintained its leadership position despite mixed results in both product categories. Its flower sales increased by 1% q/q, although the company lost 68 basis points (bps) in market share, now standing at 38%. In the oil-based product category, Trulieve&#8217;s sales remained flat, but it gained 50 bps in market share, increasing its lead to 31%.
Curaleaf, the second-largest operator in Florida, reported a strong 11% rise in flower sales volumes, boosting its market share by 79 bps to 10%. However, its oil-based product sales fell 2%, though it retained its second-place ranking with a 13% market share despite a slight loss of share.
Verano Holdings Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VRNOF#OTC">VRNOF</a>) had flat flower sales following sequential declines in Q1 and Q2, which were attributed to capacity upgrades. The company's market share in flower sales slipped by 19 bps, landing at 7%, keeping its third-place ranking. Verano's oil-based product sales dropped 8%, reducing its share by 68 bps to 9%.
Ayr Wellness Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AYRWF#OTC">AYRWF</a>) experienced strong growth in flower sales, up 12% q/q, which increased its <a href="https://www.benzinga.com/markets/cannabis/24/09/40753011/ayr-wellness-conditional-approval-for-medical-marijuana-operations-in-virginia-what-it-means-for">market share</a> by 51 bps to over 6%, ranking fourth in the state. However, its oil-based product sales declined 7%, dropping its share by 72 bps, though it maintained its third-place position with a 12% market share.
<h3 class="wp-block-heading">Smaller Players </h3>
<ul>
<li>Cresco Labs Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTC">CRLBF</a>) saw solid growth in both product categories, with flower sales volumes rising 7% q/q, raising its market share by 20 bps to 5%. The company&#8217;s oil-based product sales increased 6%, adding 23 bps in market share, taking it up to 4%.</li>
</ul>
<ul>
<li>Green Thumb Industries Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTC">GTBIF</a>) posted mixed results, with flower sales declining by 18% q/q, lowering its market share by 45 bps to 2%. However, its oil-based product sales surged by 26%, adding 48 bps to its market share, also reaching 2%.</li>
</ul>
<ul>
<li>Planet 13 Holdings Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PLNHF#OTC">PLNHF</a>) managed to hold its ground in the oil-based products segment, with market share flat at 2% despite a 2% sales decline. However, the company's flower sales fell 12%, reducing its market share by 47 bps to just under 3%.</li>
</ul>
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/40712816/what-trump-learned-about-marijuana-that-desantis-did-not-and-why-the-gop-might-become-weed-frien">What Trump Learned About Marijuana That DeSantis Did Not And Why The GOP Might Become Weed-Friendly</a>
<h3 class="wp-block-heading">Florida's $100M Bet: What's At Stake</h3>
With adult-use cannabis legalization on the horizon through Amendment 3, Florida's market is set to see significant changes. According to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38470560/landing-in-floridas-cannabis-market-legal-adult-use-marijuana-could-yield-874m-in-2">BDSA data</a>, total cannabis sales in Florida are projected to grow at a 12% compound annual growth rate (CAGR) from 2023 to 2028, reaching $4.5 billion by the end of that period.
However, legislative uncertainties surrounding the expansion of adult-use licenses add unpredictability to the market, with over 600 dispensaries already in operation and medical cannabis sales hitting $2.6 billion in 2023.
<h3 class="wp-block-heading">Hype-Worthy?</h3>
Pablo Zuanic&#8216;s analysis paints an optimistic picture for Florida's cannabis market, predicting a $6 billion valuation and significant growth for operators like Cansortium and AYR Wellness<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38037571/floridas-6b-cannabis-market-anticipates-400-growth-following-court-decision-allowin"> if adult-use legalization passes in November 2024</a>.&nbsp;
Zuanic forecasts up to 400% growth for AYR and substantial upside for other major players, highlighting the potential market explosion. However, when compared to the recent Beacon Securities report, which shows slipping per-dispensary sales and slowing growth, the question remains whether the market fundamentals can sustain this anticipated boom.&nbsp;
Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/09/40879364/young-republicans-break-ranks-to-back-cannabis-legalization-is-the-gop-ready-for-a-shift-in-the-">Young Republicans Break Ranks To Back Cannabis Legalization &#8211; Is The GOP Ready For A Shift In The Status Quo?</a>

Analyst Color

Analyst Ratings

CURALEAF HLDGS INC by Curaleaf Hldgs Inc.

CURLF

PLNHF

Slipping Weed Sales In Florida's Market: Is This $100M Bet Really Worth The Hype?

Trulieve Cannabis Corp. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/TRUL#CSE">TRUL</a>) (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTCQX">TCNNF</a>) announced Tuesday that it has entered into a partnership with Black Buddha Cannabis.
The collaboration will debut products from women-owned medical marijuana brands to Trulieve dispensaries in Arizona and Pennsylvania starting this fall.
Products from Black Buddha&#8217;s &#8220;BLYSS&#8221; and &#8220;DREAM&#8221; lines of premium medical marijuana flower will be available in Trulieve stores throughout the two states starting Friday, Oct. 4.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/cannabis-conference/"><img loading="lazy" decoding="async" width="970" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/01093122/ccc-oct-24-banner__1_-1.gif" alt="" class="wp-image-574647" /></a></figure>
Founded by Roz McCarthy, CEO of Soaring High Industries and Minorities for Medical Marijuana, Black Buddha Cannabis "brings a unique approach to the medical marijuana industry with a focus on wellness and healing."
Read Also: <a href="https://www.benzinga.com/markets/cannabis/22/02/25348968/redefining-black-owned-weed-minorities-for-medical-marijuana-m4mm-s-roz-mccarthy-launches-black-">Redefining Black-Owned Weed: Minorities For Medical Marijuana (M4MM)&#8217;s Roz McCarthy Launches Black Buddha Cannabis</a>
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.</li>
</ul>
&#8220;We are incredibly excited to bring Black Buddha Cannabis to the vibrant markets of Arizona and Pennsylvania,&#8221; McCarthy said in a press release. &#8220;Our brand is deeply rooted in wellness, and our mission is to help people feel better, whether they are part of the adult-use or medical marijuana community. We believe everyone deserves access to products that enhance their well-being, and we&#8217;re thrilled to offer our carefully curated flower lines to these new markets.&#8221;
Kim Rivers, Trulieve&#8217;s CEO, shared McCarthy's enthusiasm.
&#8220;We are excited to welcome Black Buddha Cannabis to our product lineup,&#8221; Rivers said. &#8220;Roz&#8217;s inspiring story and her brand&#8217;s dedication to healing through medical marijuana align perfectly with Trulieve&#8217;s mission to provide high-quality, purpose-driven products to our customers.&#8221;
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/22/09/28857745/exclusive-trulieve-ceo-kim-rivers-calls-to-action-on-cannabis-reform">EXCLUSIVE: Trulieve CEO Kim Rivers&#8217; Calls To Action On Cannabis Reform</a></li>
</ul>

Medical Cannabis Giant Trulieve Partners With Black Buddha To Launch New Marijuana Flower Lines In Arizona And Pennsylvania

<a href="https://www.benzinga.com/events/cannabis-conference/">Ross Gerber</a>, co-founder and CEO of Gerber Kawasaki Wealth and Investment Management, is set to take the stage at this year's <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Capital Conference</a> in Chicago on October 8-9, 2024. Known for his bold views on the <a href="https://www.benzinga.com/cannabis">cannabis industry</a> and keen insight into finance, Gerber's appearance at the event provides attendees an opportunity to hear from one of the leading voices on <a href="https://www.benzinga.com/events/cannabis-conference/">the intersection of cannabis and capital markets</a>.
<h3 class="wp-block-heading">Leader In Cannabis Finance And Long-Time Legalization Advocate</h3>
Gerber's influence in the financial world is well-established. His Santa Monica-based firm, Gerber Kawasaki, managed more than $2.6 billion in assets as of January, 2024. But what sets him apart is his longstanding advocacy for cannabis legalization, a passion that dates back to his college years at the University of Pennsylvania, where he organized one of the largest pro-legalization rallies on campus.
Over the years, Gerber has cultivated close ties with industry heavyweights like Trulieve (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>)'s Kim Rivers, TerrAscend (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TSNDF#OTC">TSNDF</a>)'s Jason Wild, and Ben Kovler of Green Thumb Industries (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTC">GTBIF</a>), using his platform to advance the conversation around cannabis reform. Gerber&#8217;s investments and advocacy in the cannabis space have made him a key figure in discussions about the future of cannabis finance, particularly in the context of potential federal rescheduling.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="The Big Cannabis Show" width="500" height="281" src="https://www.youtube.com/embed/XgZ2aVcoaug?start=27&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
<h3 class="wp-block-heading">What To Expect From The Benzinga Cannabis Capital Conference</h3>
At the <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Capital Conference</a>, Gerber will bring his candid insights on the challenges cannabis businesses face, from tax issues to limited access to capital. As someone who has long advocated for cannabis rescheduling, he'll dive into the potential shifts this could bring to the industry.
In recent discussions, Gerber noted that federal rescheduling could relieve cannabis companies from burdensome tax laws and open doors for mainstream financial institutions to participate in the market. "The financial performance of cannabis companies could improve dramatically with even small changes to federal law," he said in previous talks.
Attendees can also expect Gerber to shed light on the importance of leadership and innovation in navigating these turbulent waters. His partnerships with CEOs like Rivers and Wild have only reinforced his belief that strategic vision will determine who thrives as the industry faces upcoming legal changes.
<h3 class="wp-block-heading">A Must-Attend Event For Cannabis Investors And Industry Participants</h3>
With over 2,000 attendees and 200-plus investors slated to attend, this year's <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Capital Conference</a> is expected to be one of the most significant gatherings in the industry. Whether you're a seasoned investor or new to the cannabis game, Gerber's talk promises to provide critical insights into where the industry is heading and how to position yourself for success.
Gerber's participation isn't just about what's happening now, it's about what comes next. His focus on the financial mechanisms that can reshape the cannabis landscape offers investors and industry insiders alike a roadmap for navigating the opportunities ahead.
<h3 class="wp-block-heading">Don't Miss Out</h3>
If cannabis finance and investment are on your radar, you won't want to miss this chance to <a href="https://www.benzinga.com/events/cannabis-conference/">hear from Ross Gerber</a>. With early bird tickets now available, it's the perfect time to <a href="https://www.benzinga.com/events/cannabis-conference/">secure your spot</a> at the <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Capital Conference</a> and be part of the conversation shaping the future of cannabis.

TSNDF

Multi-Billion-Dollar Fund Manager Ross Gerber Will Discuss Cannabis And Its Financial Future At This Key Chicago Event

As Tropical Storm Helene intensifies and approaches Florida's Gulf Coast, Trulieve Cannabis Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>), one of the largest multi-state operators (MSOs) in the U.S. weed industry, is bracing for potential disruptions. Investors have voiced concerns about the storm's potential impact on operations, especially given Trulieve's extensive footprint in Florida. However, Trulieve&#8217;s CEO Kim Rivers says the company is fully prepared for what's coming ashore.
In a Twitter exchange responding to user @WolfOfWeedST, Rivers laid out the company's readiness plans, noting that it&#8217;s facilities are built to withstand the storm. &#8220;We are locked and loaded. Not our first storm rodeo. Buildings are all wind rated and have all been thru storms in the past,&#8221; Rivers wrote, addressing concerns about infrastructure vulnerabilities as Helene strengthens into a potentially catastrophic event.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We are locked and loaded. Not our first storm rodeo. Buildings are all wind rated and have all been thru storms in the past. The biggest threat is loss of power but lines come from the southeast so that's looking ok. Regardless, generators are on site, storm prep done and teams…
&mdash; Kim Rivers (@rivers_kim) <a href="https://twitter.com/rivers_kim/status/1838931491704721750?ref_src=twsrc%5Etfw">September 25, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
<h3 class="wp-block-heading">A Storm On The Horizon</h3>
Helene, which is expected to make landfall as a major hurricane, poses a significant threat to Florida's west coast. The National Hurricane Center (NHC) has already issued warnings for storm surges that could reach up to 15 feet, along with wind speeds forecasted to exceed 100 mph as the storm intensifies. Counties along the Florida coast have begun issuing evacuation orders and power outages are expected.
Trulieve's headquarters, operations and dispensaries are heavily concentrated in Florida, making the company particularly vulnerable to disruptions. But Rivers assured stakeholders that the company's hurricane preparedness plan has been activated. While acknowledging that the biggest challenge could be power outages, she remained optimistic. "The biggest threat is loss of power but lines come from the southeast so that's looking ok. Regardless, generators are on site, storm prep done and teams ready to go."
<h3 class="wp-block-heading">Impact On Cannabis Supply Chain</h3>
Given that Trulieve also supplies wholesale cannabis products to other operators, any disruption to its facilities could ripple throughout the supply chain.
Cannabis investors are watching closely, with some expressing concern over potential setbacks to the cannabis industry's recovery after a challenging several years. @WolfOfWeedST pointed out, "The only thing that can screw up A3 [Amendment 3, the initiative to legalize adult-use cannabis in the state] and this run is hurricane Helene for the MSO's in Florida," highlighting the dependency of several players on Trulieve's production and wholesale operations.
As the cannabis industry watches closely, Helene's path will be a key focus in the coming days. While the physical infrastructure is in place, the true test will come in the aftermath of the storm, when the focus will shift to how quickly operations can resume and whether supply chains remain intact.
Here&#8217;s hoping everyone remains safe and sound.

Will Hurricane Helene Disrupt Florida's Cannabis Industry? Trulieve CEO Says Co. Is 'Locked And Loaded, Not Our First Storm Rodeo'

<h3>GAINERS:</h3>
<ul>
<li><a href="https://www.benzinga.com/quote/FUAPF">Global Compliance</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FUAPF#OTC">FUAPF</a>) shares closed up 43.83% at $0.00</li>
<li><a href="https://www.benzinga.com/quote/CNGGF">Cann Gr</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNGGF#OTC">CNGGF</a>) shares closed up 26.80% at $0.03</li>
<li><a href="https://www.benzinga.com/quote/LBUY">Leafbuyer Techs</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LBUY#OTC">LBUY</a>) shares closed up 25.00% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/LMLLF">Pharmadrug</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LMLLF#OTC">LMLLF</a>) shares closed up 17.17% at $0.02</li>
<li><a href="https://www.benzinga.com/quote/MGWFF">Maple Leaf Green World</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MGWFF#OTC">MGWFF</a>) shares closed up 12.70% at $0.04</li>
<li><a href="https://www.benzinga.com/quote/MXC">Mexco Energy</a> (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/MXC#AMEX">MXC</a>) shares closed up 6.21% at $13.69</li>
<li><a href="https://www.benzinga.com/quote/YCBD">cbdMD</a> (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/YCBD#AMEX">YCBD</a>) shares closed up 5.32% at $0.48</li>
<li><a href="https://www.benzinga.com/quote/CXXIF">C21 Investments</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CXXIF#OTC">CXXIF</a>) shares closed up 5.31% at $0.25</li>
<li><a href="https://www.benzinga.com/quote/BMMJ">Body and Mind</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMMJ#OTC">BMMJ</a>) shares closed up 5.28% at $0.03</li>
<li><a href="https://www.benzinga.com/quote/GNLN">Greenlane Hldgs</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNLN#NASDAQ">GNLN</a>) shares closed up 4.78% at $5.24</li>
<li><a href="https://www.benzinga.com/quote/CNPOF">RIV Capital</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNPOF#OTC">CNPOF</a>) shares closed up 4.52% at $0.17</li>
<li><a href="https://www.benzinga.com/quote/GRWG">GrowGeneration</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRWG#NASDAQ">GRWG</a>) shares closed up 4.50% at $2.09</li>
<li><a href="https://www.benzinga.com/quote/SMG">Scotts Miracle Gro</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMG#NYSE">SMG</a>) shares closed up 4.22% at $81.21</li>
<li><a href="https://www.benzinga.com/quote/OILFF">Nextleaf Solutions</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/OILFF#OTC">OILFF</a>) shares closed up 3.93% at $0.07</li>
<li><a href="https://www.benzinga.com/quote/TCNNF">Trulieve Cannabis</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>) shares closed up 3.81% at $11.98</li>
<li><a href="https://www.benzinga.com/quote/ZDPY">Zoned Props</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ZDPY#OTC">ZDPY</a>) shares closed up 3.50% at $0.59</li>
<li><a href="https://www.benzinga.com/quote/XXII">22nd Century Group</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XXII#NASDAQ">XXII</a>) shares closed up 3.19% at $0.28</li>
<li><a href="https://www.benzinga.com/quote/VFF">Village Farms Intl</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFF#NASDAQ">VFF</a>) shares closed up 3.15% at $0.91</li>
<li><a href="https://www.benzinga.com/quote/ACB">Aurora Cannabis</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACB#NASDAQ">ACB</a>) shares closed up 3.03% at $5.74</li>
</ul>
<h3>LOSERS:</h3>
<ul>
<li><a href="https://www.benzinga.com/quote/GBHPF">Global Hemp Group</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GBHPF#OTC">GBHPF</a>) shares closed down 13.74% at $0.02</li>
<li><a href="https://www.benzinga.com/quote/RMHB">Rocky Mountain High</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RMHB#OTC">RMHB</a>) shares closed down 10.00% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/TGIFF">1933 Industries</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TGIFF#OTC">TGIFF</a>) shares closed down 9.27% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/CARA">Cara Therapeutics</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARA#NASDAQ">CARA</a>) shares closed down 8.64% at $0.28</li>
<li><a href="https://www.benzinga.com/quote/CLSH">CLS Holdings USA</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CLSH#OTC">CLSH</a>) shares closed down 8.51% at $0.04</li>
<li><a href="https://www.benzinga.com/quote/CBDY">Target Group</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CBDY#OTC">CBDY</a>) shares closed down 8.18% at $0.00</li>
<li><a href="https://www.benzinga.com/quote/CNTMF">Cansortium</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNTMF#OTC">CNTMF</a>) shares closed down 8.18% at $0.15</li>
<li><a href="https://www.benzinga.com/quote/ELLXF">Elixinol Wellness</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ELLXF#OTC">ELLXF</a>) shares closed down 6.98% at $0.00</li>
<li><a href="https://www.benzinga.com/quote/CVSI">CV Sciences</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CVSI#OTC">CVSI</a>) shares closed down 4.74% at $0.05</li>
<li><a href="https://www.benzinga.com/quote/BBRRF">Blueberries Medical</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BBRRF#OTC">BBRRF</a>) shares closed down 3.85% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/CURR">Currenc Group</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CURR#NASDAQ">CURR</a>) shares closed down 3.57% at $2.70</li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Movers

BBRRF

BMMJ

CARA

CBDY

CLSH

CNGGF

CNPOF

CNTMF

CURE PHARMA HLDG CORP by CURE Pharmaceutical Holding Corp.

CURR

CVSI

CXXIF

ELLXF

FUAPF

GBHPF

GNLN

GRWG

LEAFBUYER TECHNOLOGIES by Leafbuyer Technologies, Inc.

LBUY

LMLLF

MGWFF

OILFF

RMHB

TGIFF

XXII

YCBD

ZDPY

Cannabis Stock Gainers And Losers From September 24, 2024

Hispanics, who account for 22% of Florida's electorate with 2.75 million voters, are showing increasing support for cannabis legalization. In a recent poll conducted by TelevisaUnivision and Media Predict, 60% of Hispanic voters in the state expressed either a definite or probable &#8220;yes&#8221; on Amendment 3, which seeks to legalize recreational cannabis for adults aged 21 and older.&nbsp;
This is a 2% rise from last month's numbers, highlighting growing acceptance within this key demographic. For cannabis investors, this trend signals potential market expansion in Florida, making the Hispanic electorate an essential group to watch as it could shape the future of the state's cannabis industry.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can't afford to miss out if you&#8217;re serious about the business.</li>
</ul>
<h3 class="wp-block-heading">High Support Among Non-Hispanic Voters</h3>
Among non-Hispanic voters, 63% showed similar enthusiasm for cannabis legalization. The <a href="https://uci.sharepoint.com/:p:/s/KWTeam/Eeh7819q-VhCkaX-fpsvOVsBQMO7sxoSN1b2BpFw3fbzdA?rtime=JcOK8MDY3Eg">poll</a>, conducted online from September 12-16 with 1,155 likely voters, highlights the growing acceptance of recreational cannabis across diverse voter groups. Investors should take note: if approved in the November election, <a href="https://www.benzinga.com/topic/florida-cannabis">Florida&#8217;s cannabis market</a> could undergo a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38037571/floridas-6b-cannabis-market-anticipates-400-growth-following-court-decision-allowin">400% growth</a>, providing new opportunities for business development.
<h3 class="wp-block-heading">Economic Concerns Remain Paramount</h3>
In addition to cannabis, Florida Politics <a href="https://floridapolitics.com/archives/697038-poll-hispanic-voters-are-warming-to-florida-ballot-measures-on-recreational-pot-abortion/">reported</a> that abortion rights have also captured the attention of Hispanic voters. Amendment 4, which seeks to protect abortion access until fetal viability (around 24 weeks), had consistent support from 63% of Hispanic voters. The intensity of this support grew, with 41% now expressing certainty in their vote, up from 39% last month.
While cannabis and abortion are hot topics, economic issues remain at the top of the list for Hispanic voters. A staggering 80% of respondents identified the rising cost of living as the most pressing issue, followed by inflation at 79%.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/40879364/young-republicans-break-ranks-to-back-cannabis-legalization-is-the-gop-ready-for-a-shift-in-the-">Young Republicans Break Ranks To Back Cannabis Legalization—Is The GOP Ready For A Shift In The Status Quo?</a>
<h3 class="wp-block-heading">Will It Be Enough?</h3>
As Florida and the natioin approach the upcoming <a href="https://www.benzinga.com/topic/2024-election">November 2024 elections,</a> the outcome remains uncertain. National dynamics, such as concerns over the economy and immigration, may overshadow cannabis reform as a top priority for voters. 
While V.P. Kamala Harris and her running mate <a href="https://www.benzinga.com/general/politics/24/09/40844701/trump-harris-might-not-debate-again-but-their-running-mates-will-what-voters-should-know-about-w">Tim Walz </a>support <a href="https://www.benzinga.com/markets/cannabis/24/09/40846480/cannabis-experts-say-weed-reform-is-a-race-against-time-is-the-dea-delaying-bidens-rescheduling-">federal cannabis reform</a>, Donald Trump&#8216;s recent <a href="https://www.benzinga.com/markets/cannabis/24/08/40666944/donald-trump-supports-cannabis-legalization-in-florida-game-changer-and-huge-blow-to-ron-desanti">backing </a>for legalization in Florida presents a different challenge. His stance is more of a concept rather than a detailed policy.
Trump's endorsement could energize conservative voters who may previously have been ambivalent on the issue, potentially undercutting Harris's advantage in traditionally progressive areas.&nbsp;
Despite strong support for Amendment 3 among Hispanic voters, the broader electorate's focus on economic and social issues in such a divided political landscape may limit its impact on swaying the cannabis legalization effort.
Trulieve Cannabis Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>), Curaleaf Holdings, Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>), and Ayr Wellness Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AYRWF#OTC">AYRWF</a>) are some of the<a href="https://www.benzinga.com/cannabis"> key players</a> in Florida's medical cannabis market. Trulieve, in particular, dominates the Florida market with a large number of dispensaries. If Amendment 3 passes, these companies could see significant stock movement as they transition to serving a broader, recreational consumer base.
Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/09/40926862/desantis-targets-one-big-weed-company-funding-floridas-legalization-campaign-cites-corporate-int">DeSantis Targets &#8216;One Big Weed Company&#8217; Funding Florida&#8217;s Legalization Campaign, Citing &#8216;Corporate Interests&#8217;</a>

Your Cousins In Florida Like Their Weed: Why Hispanic Voters Could Tip The Scale For Cannabis,Will It Be Enough?

<h3>GAINERS:</h3>
<ul>
<li><a href="https://www.benzinga.com/quote/FFNTF">4Front Ventures</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FFNTF#OTC">FFNTF</a>) shares closed up 33.33% at $0.06</li>
<li><a href="https://www.benzinga.com/quote/MGWFF">Maple Leaf Green World</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MGWFF#OTC">MGWFF</a>) shares closed up 29.66% at $0.03</li>
<li><a href="https://www.benzinga.com/quote/LBUY">Leafbuyer Techs</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LBUY#OTC">LBUY</a>) shares closed up 25.65% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/NWVCF">EnWave</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NWVCF#OTC">NWVCF</a>) shares closed up 14.84% at $0.17</li>
<li><a href="https://www.benzinga.com/quote/ITHUF">iAnthus Capital Hldgs</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ITHUF#OTC">ITHUF</a>) shares closed up 13.39% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/RSSFF">Affinor Growers</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RSSFF#OTC">RSSFF</a>) shares closed up 13.21% at $0.04</li>
<li><a href="https://www.benzinga.com/quote/TGIFF">1933 Industries</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TGIFF#OTC">TGIFF</a>) shares closed up 12.58% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/ELLXF">Elixinol Wellness</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ELLXF#OTC">ELLXF</a>) shares closed up 11.48% at $0.00</li>
<li><a href="https://www.benzinga.com/quote/RMHB">Rocky Mountain High</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RMHB#OTC">RMHB</a>) shares closed up 11.11% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/XXII">22nd Century Group</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XXII#NASDAQ">XXII</a>) shares closed up 10.73% at $0.29</li>
<li><a href="https://www.benzinga.com/quote/CBDY">Target Group</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CBDY#OTC">CBDY</a>) shares closed up 10.00% at $0.00</li>
<li><a href="https://www.benzinga.com/quote/CXXIF">C21 Investments</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CXXIF#OTC">CXXIF</a>) shares closed up 7.91% at $0.24</li>
<li><a href="https://www.benzinga.com/quote/CVSI">CV Sciences</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CVSI#OTC">CVSI</a>) shares closed up 6.49% at $0.05</li>
<li><a href="https://www.benzinga.com/quote/SMG">Scotts Miracle Gro</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMG#NYSE">SMG</a>) shares closed up 5.47% at $77.92</li>
<li><a href="https://www.benzinga.com/quote/EAST">Eastside Distilling</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EAST#NASDAQ">EAST</a>) shares closed up 5.14% at $0.49</li>
<li><a href="https://www.benzinga.com/quote/MRMD">MariMed</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MRMD#OTC">MRMD</a>) shares closed up 4.69% at $0.17</li>
<li><a href="https://www.benzinga.com/quote/TCNNF">Trulieve Cannabis</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>) shares closed up 4.53% at $11.54</li>
<li><a href="https://www.benzinga.com/quote/CRLBF">Cresco Labs</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTC">CRLBF</a>) shares closed up 4.37% at $1.67</li>
<li><a href="https://www.benzinga.com/quote/VFF">Village Farms Intl</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFF#NASDAQ">VFF</a>) shares closed up 3.55% at $0.91</li>
</ul>
<h3>LOSERS:</h3>
<ul>
<li><a href="https://www.benzinga.com/quote/FUAPF">Global Compliance</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FUAPF#OTC">FUAPF</a>) shares closed down 33.33% at $0.00</li>
<li><a href="https://www.benzinga.com/quote/SOLCF">SOL Glb Inv</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SOLCF#OTC">SOLCF</a>) shares closed down 14.08% at $0.04</li>
<li><a href="https://www.benzinga.com/quote/KAYS">Kaya Holdings</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/KAYS#OTC">KAYS</a>) shares closed down 9.42% at $0.04</li>
<li><a href="https://www.benzinga.com/quote/CURR">Currenc Group</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CURR#NASDAQ">CURR</a>) shares closed down 7.12% at $2.80</li>
<li><a href="https://www.benzinga.com/quote/OILFF">Nextleaf Solutions</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/OILFF#OTC">OILFF</a>) shares closed down 5.87% at $0.06</li>
<li><a href="https://www.benzinga.com/quote/CNPOF">RIV Capital</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNPOF#OTC">CNPOF</a>) shares closed down 5.45% at $0.16</li>
<li><a href="https://www.benzinga.com/quote/CNBX">CNBX Pharmaceuticals</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNBX#OTC">CNBX</a>) shares closed down 4.23% at $0.01</li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

CNBX

EAST

FFNTF

ITHUF

KAYS

NWVCF

RSSFF

SOLCF

Bullish Sentiment Across The Cannabis Space - Check Full Movers For September 23, 2024

Trulieve: Regulatory Developments And Growth Acceleration Could Trigger Significant Upside

Trulieve Is Not A Good Cannabis Stock To Own

Trulieve Cannabis (TSE:TRUL) has released an update. Trulieve Cannabis Corp. is expanding its reach by opening a new medical cannabis dispensary in...

Trulieve Debuts New Florida Medical Cannabis Dispensary

Why Cannabis Is Still An Excellent Long-Term Investment Opportunity

Colorado cannabis tax revenue seen declining as marijuana tourism subsides

Pennsylvania voters in key districts support recreational cannabis legalization

Trulieve Cannabis (TSE:TRUL) has released an update. Trulieve Cannabis Corp. has partnered with Black Buddha Cannabis to introduce a line of premiu...

Trulieve Debuts Black Buddha Cannabis in Key Markets

Democratic congressmen pressure DEA, DOJ to reclassify marijuana

Trulieve Should Be Sold

Trulieve Cannabis (TSE:TRUL) has released an update. Trulieve Cannabis Corp. is set to open a new medical cannabis dispensary in Hallandale Beach, ...

Trulieve Launches New Florida Dispensary With Grand Opening

AAWH

ACRDF

ACRHF

AYWWF

CBSTF

CNBS

GHBWF

GRAM

GRAMW

JUSHF

MAPS

MAPSW

MSOS

PLNH

VEXTF

VREOF

YOLO

Small Cap

Press Releases

Trulieve Employee Training Program Earns Gold Award for Excellence

Trulieve to Open Florida Medical Cannabis Dispensaries in Cocoa, Miramar Beach, Niceville, and Tampa

Trulieve Opens Relocated Dispensary in Tucson, Arizona

Trulieve to Open Medical Cannabis Dispensary in Clearwater, Florida

Trulieve Announces Upcoming Event Participation

Trulieve to Open Medical Cannabis Dispensary in Lake Worth, Florida

Trulieve to Open Medical Cannabis Dispensary in Hudson, Florida

Trulieve Partners with Black Buddha Cannabis to Launch Premium Products in Arizona and Pennsylvania

Trulieve to Open Medical Cannabis Dispensary in Hallandale Beach, Florida

Trulieve Cannabis Corp. to Hold Third Quarter 2024 Results Conference Call on November 5, 2024

Comments

Trulieve Cannabis

Actualités

Dernières nouvelles pour Trulieve Cannabis (OTC:TCNNF) Stock

Notizie

PARTENAIRE / CONTRIBUTEUR

BENZINGA MONDIAL