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By Harrison Bard, CEO and co-founder Custom Cones USA In the ever-evolving landscape of legalized cannabis, the pre-roll emerges as a potent symbol of accessibility and convenience. This simple product, essentially ready-to-smoke cannabis rolled into a paper, has not only captured the hearts of consumers but has also dominated sales, particularly in 2024. Now accounting for 15% of the market, pre-rolls have proven themselves as indispensable in the burgeoning cannabis industry. Let’s take a closer look at how pricing and other factors are contributing to the rise of pre-rolls. Wide range of pre-roll prices A major factor in the pre-roll’s…
News from: Blüm Holdings, New York, RAW, California State Fair, and more.The Daily Hit is a recap of the top financial news stories for Tuesday, June 18, 2024. On the Site Blüm Holdings sheds cannabis dispensary in debt-cutting move The sale retired about $44.5 million in debt for Blüm. Read more here. New York leaders say more than 500 illicit cannabis shops shuttered thus far Roughly 400 of the shops were located in New York City. Read more here. RAW rolling papers sues male enhancement pill company for copying its trademark RAW had its own packaging claim problems in 2023…
$6.73 – Average price of a pre-roll in the U.S. (April 2024) In April 2024, the average cost of a pre-roll dipped to $6.73, down from $8.03 the previous year, marking a significant 16% year-over-year decrease, according to data from cannabis analytics firm Headset. This trend is largely attributed to reduced material costs in maturing markets and in spite of the effects of an increase in the luxury-infused pre-roll sector, which saw a growth of 27.9% year-over-year. Source: Headset and Custom Cones USA The post Number of the Week: $6.73 appeared first on Green Market Report.
Massachusetts cannabis regulators unanimously approved an administrative order on Thursday to allow the transport of marijuana products to the popular summer destinations of Martha’s Vineyard and Nantucket. The Cannabis Control Commission’s decision, which took effect immediately, comes in response to a lawsuit filed in May by the owners of two island shops, Patient Centric (operating as Island Time) and The Green Lady, which sought permission for such deliveries. The state had previously banned the transport of marijuana by air or sea, citing potential violations of federal law. Island dispensaries have faced growing hurdles in maintaining inventory, particularly after Fine Fettle,…
New Hampshire hit the brakes on legalizing adult-use cannabis after its House of Representatives voted on Thursday to table the bill for the rest of the legislative session. “It’s a sad day to see legalizers kill legalization,” Karen O’Keefe, director of state policies for the pro-legalization Marijuana Policy Project, said in a statement. “While H.B. 1633 was an imperfect bill, it is far easier to revise a law than to pass a bill from scratch — especially if the next governor is a prohibitionist.” New Hampshire is the last state in New England that hasn’t legalized adult-use cannabis. The Granite…
A key House committee on Thursday removed provisions from an annual appropriations bill that would have shielded banks working with state-legal marijuana businesses from federal penalties. The Financial Services and General Government bill, which funds various agencies for the coming fiscal year, initially included provisions preventing regulators from penalizing financial institutions solely for serving cannabis companies operating legally under state law. But after some GOP lawmakers, including North Carolina Republican Rep. Chuck Edwards raised concerns during earlier markups, arguing that the language amounted to an “affirmative authorization disguised as a limitation,” the Republican-led House Appropriations Committee this week nixed those…
An advocate of social justice for her entire career, Danielle Drummond started at multistate operator Ascend Wellness Holdings (OTC: AAWH) in 2021 as the company’s vice president of social equity, her first foray into the professional marijuana world. Less than three years later, she took home the prize for advocacy, just last month at the Green Market Report Women in Cannabis Awards in New York City. “I believe in the power of the plant to change lives medicinally and financially. I have had close family and friends incarcerated for this and this is my way of ensuring that they and our…
An ongoing wrongful death lawsuit from McMurrey’s family could still cost the MSO even more.Marijuana industry giant Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) continues to be haunted by the ghost of Lorna McMurrey, the former Massachusetts worker who died in early 2022 due to working conditions at one of its now-shuttered manufacturing facilities. This week, the Florida-based multistate operator agreed to a state fine of $350,000 in connection with McMurrey’s death. The fine is a settlement with Massachusetts state regulators, Masslive.com reported, and is in addition to a federal fine of $14,500 already levied by the federal Occupational Safety…
Villanueva attributes much of her success to the extra drive she feels as a woman competing in a “man-driven industry.”Irene Villanueva, director of cultivation operations at The Source, worked her way up through the trenches in the Las Vegas marijuana trade. Her hard work and dedication to the craft were key factors in her winning took home the top cannabis cultivator prize at the Green Market Report Women in Cannabis Awards in New York last month. Villanueva, who started growing marijuana 10 years ago in her garage as a side hustle for extra cash, launched her full-time cannabis career in…
The price of cannabis in the U.S. is anything but uniform. An analysis of nationwide data shows that consumers can expect to pay anywhere from around $200 to nearly $600 for an ounce of high-quality marijuana, depending on where they live. The national average, corrected for outliers, lately stood at $318.72 per ounce. Quality of product also has a significant impact on the overall price. The average national price for “medium-quality” cannabis fell nearly 20% to $256.08 per ounce, according to the global price index site priceofweed.com. The findings, drawn from figures reported by priceofweed.com, point to the significant role…