Insights

LOS ANGELES- COMPASS Pathways, a company specializing in mental health treatments, has garnered significant attention in recent market reports due to favorable analyst ratings and its stock performance. Several brokerages have maintained a consensus "Buy" rating on COMPASS Pathways, with price targets ranging from $23.00 to $47.40. Six research analysts have recently reiterated their "buy" ...

LOS ANGELES- High Tide Inc. reported strong financial results for the third fiscal quarter of 2024, with record revenue of $131.7 million, reflecting a 6% increase year-over-year and sequentially. This revenue growth underscores the company's success in expanding its market share and navigating the competitive cannabis sector. The company's gross profit reached $35.5 million, a ...

LOS ANGELES- Recently uncovered White House recordings from 1973 reveal that President Richard Nixon privately acknowledged that cannabis was "not particularly dangerous," a stance at odds with his administration's aggressive drug policies. The recordings, discovered by drug reform advocate Kurtis Hanna while reviewing the Nixon Library archives, show a more nuanced perspective on cannabis than ...

LOS ANGELES- California Governor Gavin Newsom announced emergency regulations on Friday that would prohibit the sale of hemp products containing detectable levels of THC, the psychoactive compound in cannabis. The move aims to address concerns over the availability of intoxicating hemp products, especially those accessible to minors. Hemp products are currently sold outside of regulated ...

LOS ANGELES- The cannabis industry faced heightened volatility as the MSOS ETF (NYSE: MSOS), which tracks U.S. cannabis companies, dropped by 15.24% following the DEA’s decision to delay rescheduling cannabis until December 2. The market response reflects growing uncertainty within the sector, as investors had anticipated regulatory clarity that could unlock further growth opportunities for ...

LOS ANGELES- Former President Donald Trump recently shared his thoughts on Florida's Amendment 3, a ballot measure that would legalize cannabis for adults 21 and over. In a post on Truth Social, Trump signaled tentative support for the initiative, marking his first public stance on cannabis legislation during this election cycle. Amendment 3, backed by ...

LOS ANGELES- The Missouri Hemp Trade Association has filed a lawsuit against the Department of Health and Senior Services (DHSS) challenging the state's recent ban on intoxicating hemp products. The lawsuit, filed in Cole County Circuit Court, argues that the DHSS lacks the legal authority to enforce the ban, which stems from an executive order ...

LOS ANGELES- In July, cannabis prices in Michigan's legal market dropped to an all-time low, with the average price of an ounce of flower falling to $79.70, according to data from the Michigan Cannabis Regulatory Agency. This marks a nearly 14.5% price decline in 2024, driven by market oversupply, regulatory pressures, and competition from illicit ...

LOS ANGELES- A new campaign to legalize medical cannabis in Wisconsin has been launched by the Indigenous Cannabis Industry Association and the Wisconsin Tribal Task Force on Cannabis. The initiative, named Wisconsin Wellness, aims to persuade state lawmakers to legalize medical cannabis for conditions such as post-traumatic stress disorder, anxiety, and chronic pain. Wisconsin remains ...

LOS ANGELES- The U.S. Drug Enforcement Administration (DEA) has initiated steps to reclassify cannabis, potentially shifting it to a status similar to regulated medicines such as Tylenol with codeine or some steroids. This federal change could significantly impact the 26 states where cannabis remains illegal, prompting them to decide whether to ban its sale or ...

LOS ANGELES- atai Life Sciences, a biopharmaceutical company focused on transforming mental health treatment, announced its financial results for the second quarter of 2024 along with updates on its clinical pipeline. The company highlighted significant progress in advancing its VLS-01 and EMP-01 programs, which target treatment-resistant depression (TRD) and social anxiety disorder (SAD), respectively. Dr. ...

LOS ANGELES- Minnesota's newly established cannabis market is attracting significant interest from out-of-state applicants, according to recent data from the Office of Cannabis Management (OCM). Of the 1,817 pre-applications submitted this summer for various cannabis licenses, over half originated from individuals residing outside Minnesota. The state's cannabis law does not mandate residency, allowing out-of-state applicants ...

LOS ANGELES- New York state officials released a comprehensive report this week, reviewing the progress made in the three years since the state's cannabis legalization law was signed by then-Governor Andrew Cuomo in 2021. The Office of Cannabis Management (OCM) and the Cannabis Control Board (CCB) outlined the development of the legal cannabis market, emphasizing ...

LOS ANGELES- A group of academics from The University of Manchester, supported by Policy@Manchester, has submitted evidence advocating for the rescheduling of psilocybin under the UK's drug laws. The submission, authored by Professor Jo Neill, Dr. Sara Tai, and Dr. John Gigg, highlights the therapeutic potential of psilocybin and other psychedelics in treating severe mental ...

LOS ANGELES- Growlink, a provider of advanced Internet of Things (IoT) controllers, sensors, and cultivation software for controlled environment agriculture, has closed a $2 million seed financing round led by Casa Verde Capital. The funding will enable Growlink to expand its AI capabilities and enhance its third-party integration platform, ensuring compatibility with various hardware systems. ...

LOS ANGELES- The debate around legalizing recreational cannabis continues to draw support and opposition from various societal factions. Central to this contentious issue is a push to amend state laws to allow adults aged 21 and over to legally possess and purchase cannabis. This article examines the latest developments in one state’s efforts toward this ...

LOS ANGELES- Government survey data released today by the US Department of Health and Human Services confirms that state-specific cannabis legalization laws have not negatively impacted teen cannabis use rates. The latest National Survey on Drug Use and Health (NSDUH) from the Substance Abuse Mental Health Services Administration (SAMHSA) reveals that teenagers are significantly less ...

LOS ANGELES- Ohio will commence recreational cannabis sales early next week, possibly as soon as Tuesday, August 6, following the issuance of the first necessary licenses on Monday. Jamie Crawford, Public Information Officer for Ohio’s Department of Commerce, stated, “We intend to issue the first set of non-medical licenses on Tuesday. There will be no ...

LOS ANGELES- Ascend Wellness Holdings, Inc. saw its stock price increase by 2.9% on Friday, trading as high as $1.07 before closing at the same price. This trading activity represented a 301% increase in volume, with 48,219 shares changing hands, compared to the average daily volume of 12,015 shares. The company, a major player in ...

LOS ANGELES- Trulieve, a medical cannabis company, has contributed an additional $5 million to support the campaign for legalizing recreational cannabis in Florida. This donation, made on July 15th, was directed to the Smart & Safe Florida political committee, which is spearheading the initiative for the November ballot. According to the state Division of Elections, ...

LOS ANGELES- Vice President Kamala Harris, once opposed to cannabis legalization during her tenure as District Attorney of San Francisco, has now become a leading advocate for the cause. In April, she made history as the first U.S. vice president to publicly support cannabis legalization, emphasizing the need for reform in her statement, "We need ...

NEW YORK- The National Health Service (NHS) England has reimbursed a patient for the cost of medicinal cannabis flowers to manage chemotherapy-induced nausea and vomiting (CINV). Michael Roberts, diagnosed with rectosigmoid adenocarcinoma and lung metastases, became the first British patient to receive such a reimbursement.Original Article Michael Roberts (MR) received FOLFIRI chemotherapy and later, FOLFOX ...