SMOKE SIGNALS 08.15.22

Another brutal week in California cannabis. Rumors are swirling about leading California distributors experiencing severe AR issues, with over 30% of active accounts over 30 days late on payment.

Dispensaries continue to shutter and layoffs continue, with cuts at HERBL, Curafleaf, CRESCO, Weedmaps, and Wunder to name a few.

RETAIL

On the brighter side, TRP opens Cookies Miami.

Favorite headline of the week: High Times Buys California Consumption Lounge in Mostly Stock Deal Despite $0 Stock Value

BRANDS

Jeeter hits AdWeek, launching 100-Stop Jeeter Mart Pop-up tour, and CNBC drops an article on co-founders, Lucas Tracz and Sebastian Solano.

Berner is the first cannabis executive to earn the cover of Forbes Magazine.

Jason Vetgosky's Petal Fast celebrates 2 Years and expands to Michigan. Haters going to hate, but Jason seems to be one of the few people hiring right now.

Greenlane Holdings announces its plans to sell its marijuana packaging division to focus on consumer brands.

Tilray CEO, Irwin Simon, calls the U.S. “a $100 billion opportunity in cannabis.”

The highly paid CEO’s likely to destroy the cannabis.

TECH

Treez enters Mass. Let’s go

Our favorite weekly read the Broccoli Report hips us to this super NFT project.

Be cool, and vote for SXSW panel “Can the Union of Equity and Tech Save Cannabis.”

DISTRIBUTION

Fun read on Nabis.

MANUFACTURING

NYC announces first recreational cannabis license.

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