An increasing number of county and local elected officials across California are acknowledging a longtime cannabis industry grievance – legal companies’ taxes are too high – and cutting local levies on retail sales, business operations or both.
Marijuana retailers across the country are adjusting to handling and securing more cash in-store after Mastercard’s abrupt decision last month to halt millions of dollars in cannabis purchases involving its popular debit card.
The AdvisorShares Poseidon Dynamic Cannabis Exchange Traded Fund (ETF), which is managed by the Paxhia sibling founders of California-based cannabis hedge fund Poseidon Investment Management, is shutting down less than two years after launching.
Mastercard’s new hardline demand that banks and payment processors immediately halt cannabis transactions involving its debit card has upended the cannabis industry and put more licensed operators at financial risk, industry insiders told MJBizDaily.
Turkish delight, the sweet, chewy, powdered confection, has captured Nathan Cozzolino’s imagination since the owner-operator of Rose Los Angeles and maker of marijuana edibles brand Rose Delights, was young.
California-based marijuana distribution giant Herbl is going to the courts in a bid to recover some of the roughly $10 million it claims retailers owe the company, which fell into receivership in June.
Marijuana operators and consumers anticipating consumption lounges opening this summer in Las Vegas will probably have to wait.
Maryland marijuana regulators suspended the business license of Cookies Baltimore, a franchisee of one of the country’s best-known cannabis brands.
Being one of a small number of stores in a cannabis desert might seem like an easy proposition: Open your doors and let customers roll in, unencumbered by competition.
But as Lauren Fontein learned when she opened a store in Fresno (population 500,000), being a cannabis oasis comes with its own challenges.
A group of California distributors and brands representing more than half the state’s wholesale B2B cannabis market has hired a credit association to rate retailers in the hopes of reducing the hundreds of thousands of dollars in unpaid invoices – and reining in repeat offenders.
Cannabis companies operate in a highly competitive and rapidly changing environment, and labor disputes can have a significant impact on business operations, leading to lost revenue, reputational damage and even regulatory sanctions.
More than 100 employees at Illinois marijuana stores and 80 at a California cannabis delivery service are joining unions.
