The Daily Hit: July 24, 2024

The Daily Hit is a recap of the top financial news stories for Wednesday, July 24, 2024.

SEC sues California cannabis investor over $38 million ‘Ponzi-like’ scheme

Newell, through Black Hawk and its related funds, promised investors a 10% annual return, but the funds were not profitable.

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Federal judge upholds Wyoming’s new hemp regulations

The ruling allows the state to continue enforcing the new rules while the case proceeds.

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LeafLink buys Dama Financial for undisclosed amount

The acquisition will allow LeafLink to expand its banking services to its customers.

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GrowGeneration announces revenue growth, store closures

The company said it would be refocusing on its proprietary brands and e-commerce platform.

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Organigram leans into THCV products with Phylos

THCV cannabis is sometimes called diet weed for its energizing properties and lack of a munchie side effect.

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Ontario Cannabis Store

Levels of THC in cannabis oils sold by the Ontario Cannabis Store were wrong outside the variance allowed by federal cannabis regulations in 40 per cent of samples, a study at McMaster University showed.

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The National Transportation Safety Board

NTSB has raised concerns about the planned federal rescheduling of cannabis, saying the move could potentially affect drug testing for those working in transportation and other safety-sensitive positions.

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Ohio

Cresco Labs in Yellow Springs has received its license for dual use cannabis cultivating and processing, the company announced Wednesday.

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Thailand

Thailand will regulate cannabis for medicinal use instead of re-listing the plant as a narcotic, the deputy prime minister said on Tuesday, in the government’s U-turn on its previous policy.

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