Daily Cannabis News and Stock Picks by Benzinga Cannabis


Welcome to Cannabis Daily – Your daily guide to cannabis news, industry trends, and trade ideas in under 5 mins.

 Cantor Fitzgerald – overweight on Curaleaf with a long term hold

 New Jersey, mayors and state lawmakers are pushing back against an attorney general memo stating police officers can use marijuana hile off duty, these particular people are quoting a federal bill that bans guns from cannabis consumers.

However, there is a little known exception in the bill for government employees. So we'll see how that plays out, but obviously some peopledo not want police officers and state employees to also be consumers. So that's going to be an interesting stigma for us to watch hopefully break over the next year.

My Winners Today:

$CURLF

Oxley

Hosted & Produced By:

Elliot Lane

Aaron Thomas

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New Jersey launched their recreational cannabis program marijuana program on. It seems to have gone very well.

Looking at posts from the likes of GTI before they opened, they had a line of 60 plus outside their door, looking at the posts from Tara sent and Jason Wilde and Rosie Matio. Their companies had S incredibly successful for 24 21 and the weekend after, because of New Jersey coming on the heels of the big cannabis holiday 4/20, that being said 4/20. We're still waiting on a lot of data to come out. But the analysis expected prior to four 20 was $160 million of cannabis sales on that day, specifically on. Product price reduction was around 65% across the board in the U S on last Thursday, I would do have a few stats though.

High tide hit on the NASDAQ reports. 1.37 million Canadian dollars in sales on four 20 Michigan. I think 2.3 tons of cannabis was sold 2.3 tons y'all that was 15 and a half million dollars in sales in the state that is up $5 million from last year and get this from two years ago, up $12 million incredible day, obviously for the state of Michigan.

I think we'll see that across the board, especially in states like Michigan, Illinois. I think you'll see the residuals of that in New Jersey, but it sounds like we are going to see some pretty exciting data over the course of the next week from four 20. We'll keep you updated there. Let's get to some other news though.

Pablo's watch of Cantor. Fitzgerald maintains an overweight rating on cure leaf OTC, listed C U R L F and ups their price target from 15 and a half to 16 and a half dollars. He believes cure leaf should be a long-term hold. That has nothing to. Kierra leaf is the best position. This is actually a interesting news to me that the best position for wholesale in the Northeast New Jersey, of course just legalized New York, Connecticut, Delaware, about to go as well.

And cure leaf. That's super interesting me is the best positioned for that. The best wholesaler in the U S right now is Cresco labs. So the fact that cure leaf can overtake that in some big cannabis markets to do. Yeah, that's going to be some news and competition to watch overall, just as a reminder, guidance for 2022 for cure leaf is between 1.4 and 1.5 billion with around a 28% EBITDA margin.

Chuck Schumer. I'm not a fan favorite in the cannabis market is reaffirming his intent to release his federal marijuana legalization bill before the August congressional recess. Obviously we were hoping to have something like. We were hoping to have something this month as that was the initial promise, but of course there was quite a bit of political movement that just made that not possible.

I don't think it's all Schumer's fault to be fair. But that being said this is not the first politician to promise certain timing to us. New Jersey, mayors and state lawmakers are pushing back against an attorney general memo stating police officers can use Marilyn. While off duty, these particular people are quoting a federal bill that bans guns from cannabis consumers.

However, there is a little known exception in the bill for government employees. So we'll see how that plays out, but obviously some people not wanting police officers and state employees to also be consumers. So that's going to be an interesting stigma for us to watch hopefully break over the next year.

Hopefully not more than. Headsets one of our favorite data players in the space offers their first quarter of 2022 highlights. The established states such as California grew sales three and a half percent year over year. Other states in their performance were not so hot, like Washington down 11% year over year, Colorado down 13%, Oregon down 15% Nevada down, 16% while newer recreational and medical.

Also grew in year over year. So Michigan get this up 28% Illinois up 20% Arizona up 16% and Massachusetts, which is newer than California in Colorado, but older than Michigan, Illinois, and Arizona up 22%. The sharp growth for Massachusetts they think is because of or this is actually a note from Pablo's watch as well.

Is it because of an increase in store count? An interesting note there, Canada. Through another note from Pablo's wanted to high fire data reports, a 5% drop in cannabis sales sequentially in the first quarter of 2020. And this is after two quarters of consecutive sequential growth market shares till Ray's leading the gang with 9.8%.

Heck. So at 9.6 organic gram at 8.2 canopy at seven Oxley at 6.9. Hello, village farms at 6.6 Kronos at 4.7 plus four more. Three of which are private and then Aurora cannabis in 10th at 2.3%. Yikes company news Delta nine, D L T N F a on the OTC received $5 million via a loan from a current shareholder and high tide hit eye on the NASDAQ.

Of course one of the major footprints in Canada, they do have a CBD operations in Europe and the U S. Ancillary products in the U S now at 478,000 Canada cabana loyalty program members specifically in Canada. Last but not least to wrap this puppy up, this has been a long one, but we had some catch-up to do y'all.

Eric Adams is pushing for greenhouses on public rooftops, despite some pretty heavy federal opposition from a current rule and law that states otherwise. This is Elliot lane. I hope this is helpful for you. If I'm calling out winners right now, got to look at Cura leaf. That's a pretty exciting note from Pablo and you got to look at Oxy.

Coming in at like fifth 1, 2, 3, 4, 5, yeah. Fifth on Canada's market share. That's pretty impressive. They're listening to on the OTC as well. And Delta nine and high tide, I think both positive news as well, but I think Cura leaf and Oxley for me are my winners of the day Elliot lane with cannabis daily.

We're back to normal. Y'all we'll see you again tomorrow. Have a fabulous Monday. Get it started. 

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