Welcome to Cannabis Daily - Your daily guide to cannabis news, industry trends and trade ideas in under 5 mins.
Episode Summary:
Governor of Kentucky looking to legalize medical marijuana in the coming legislative session.
The studies show that adults who used weed 20 or more days during the last month, were more likely to sleep less than 6 hours a night.
- Jupiter Wellness JUPW
- MedMen Enterprises MMNFF
- Flower One Hldgs FLOOF
Hosted & Pduced By:
Elliot Lane
Aaron Thomas
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Unedited Transcript:
This is Elliot lane with cannabis. Thanks as always to the one and only producer a T get to hear from him in a few minutes on some awesome bits of news that have happened over the course of the week.
And thanks to Benzinga as always for letting us host this, looking forward to diving in with you on some cannabis news and stack. So let's go ahead and get started. Andy Beshear, that is the governor of Kentucky looking to legalize medical marijuana in the coming legislative session. Also looking to decriminalize possession for adults 21 and older.
This comes on the heels of a conference where he is saying he wants to be. Or he wants to sell across borders across state borders. So when I think of, if this is successful on a federal level, of course you'll have companies like Charlotte's web in Kentucky and a few other hemp companies as well, that could benefit from this.
As well as I'm sure those that would transition to the THC side in can and cannabis in Kentucky Kentucky, very well known for its agriculture like tobacco. And a few other crops as well. So keep an eye there. Obviously I'm a Kentucky and so I'm biased. So I love seeing news like this flower one that's fluke, F L O F on the OTC.
My favorite ticker in the game issues, common shares to satisfy interest payment under its converted. Dentures. So just a bit of news there. If you are a stockholder shareholder in flower, one med men, M M in F F unveils, a plan for nationwide donation drive between December 13th and 23rd for local charities in each med men market.
I think it's continually important for us. Call out ESG initiatives to call out companies and large companies, especially giving back to their communities as this is a huge point of contention in the cannabis space between the cultural and corporate sides. The larger cannabis companies, not doing enough for the industry and consumers and the communities that support the industry.
So it's important to call out Verano and glass house and med men when they do things like this, because I think there's more of it than we realize Jupiter wellness, acquisition court announces completion of up-sized $138 million IPO. That is J w a C. On the NASDAQ at $10 per unit, they began trading on December 7th.
So just a few days back, Jupiter is a spec with goals of becoming a leading pharmaceutical cannabinoid company. Now friends not to confuse you as of yesterday. Jupiter. Well, So different company, not in Jupiter wellness acquisition, but just Jupiter wellness. That's J U P w on the NASDAQ merged with next frontier pharmaceuticals.
Next frontier stock holders will receive shares of Jupiter. They are largely focused on the CBD side of life and of course the pharmaceutical and R and D side of this. Cresco labs, CR LBF closes acquisition of Laurel harvest and Pennsylvania. A they, Laurel harvest is a vertically integrated clinical registry.
And one of the original 20 licenses of that kind with a very heavy hand in research and research partnerships. So Cresco lab expanding in a unique sense in Pennsylvania, as opposed to maybe the normal M and a and inorganic expansion we see from the likes of douchey. So from a new side, a little bit lighter for the stock news for a Friday, but luckily we're not done.
Not yet. Producer 80, bringing the heat for us today. What you got? My friend what's up Elliot. How's it going? Happy Friday. Happy Friday, my friend going good. Going good. Feeling good. This week, we are almost to the holidays almost to the end of the year. Yes, Christmas is right around the corner. So happy holidays, zinger, nation let's get right into it.
So let's kick it off CBD products, commonly flagged by FDA for making ups, unsubstantiated claims about treating COVID. It's really pretty weird since the start of the COVID-19 pandemic, the U S food and drug administration has sent numerous warning letters to companies for misrepresenting their CBD products as treatment options for patients.
According to an N that I can't talk, according to an analysis published in the journal of cannabis research Canadian. Products or among those most frequently cited by the FDA for violations. So pretty crazy. This is just more and more evidence. You know, it's funny that the CBD companies are the ones being demonized in this report, which honestly they should be a little bit, but where, you know, the FDA needs to be caught out here.
You have to have regulations on packaging, on ingredients, on testing. And there are basically none for this industry. So the CBD companies can say what they want, as long as they're not killing people or hurting them in some way. It really is amazing that this is still an issue, that there are things being sold over the counter.
There are things being sold in, in drug stores and gas stations and pharmacies and you know, all, all around the country, mark CBD and we're not really even positive their CBD in it. Like, you know, Margo who is the founder of Gabby's? I'm sorry, not Gabby's another CBD company out west. She.
We interviewed her on cannabis hour, probably a little under a year ago. And you know, she is appalled at the state of the CBD industry right now. And I know a lot of CBD companies are as well as it's not necessarily their fault, but there are those who claim to be CBD companies who make it much harder for them to operate.
So to me, this is just more evidence of the issue with the CBD regulations from the FDA and the lack of involvement from any type of federal Oregon. Yeah. And I think the craziest part is as I kept reading it said in the article hemp derived CBD products are not currently regulated by the FDA and the spokesperson for the agency recently affirmed that the agency is not anticipated to provide any guidance for the, for either production or marketing of these products anytime soon, how can you not blame?
A little bit for this. I mean, it's, it's shocking to me. I know it's not federally legal and I get that, but we're, we're consuming this on a federal. So, you know, let let's just play the ignorant card. Anyway, we, I could rant about this all day. Aaron, we could have a pretty deep conversation. Yes. What else you got for us?
My friend let's let's move on. So saucy brew works announces the brand launch of saucy. Canada works, building sauces, lifestyle brand with a full range of products for consumers to enjoy throughout their day, such as coffee, craft beer. And now. Cannabis sausage. Ken works will launch first in Michigan, illegal recreational state.
Shout out Michigan on the heels of saucy brew works brew hub expansion into that market. Salsa. Canada works is already developing expansion opportunities in other states and commitment to quality products that serve high quality.
Yeah. I always love seeing a new brands in the space. I mean, I think it legitimizes the CPG aspect of the cannabis industry. So super cool news there and nice to see another company expand the horizons into the cannabis space that wasn't necessarily birthed from the canvas. We are working for me to use by use do anyways.
It's okay. It's Friday. So we'd like to get a little freaky. All right, move on, move on.
All right. So let's get into a little science aspect of cannabis, a new study, determined correlation between cannabis and sleep. The new study reveals that sleeping cannabis may not be linked in the weight. We previously thought, however, the research is not conclusive. So a talk before sleep is the key to shut eye for many but new research published this week.
Suggest that may not be the case. Hmm. So they're just saying, it just may not be, they're not offering. Y this may not be, yeah. So the studies show that adults who use weed 20 or more days during the last month, where 64% more likely to sleep less than 60 or six hours a night and 76% more likely to sleep longer than nine hours a night.
If they take into account lifestyle. Yeah, I guess so, so is that a curiosity? I mean, I feel like there's a lot of factors there. I mean, I would imagine the study had to have certain restrictions on what you could do. So, you know, for me, that's super interesting. I'm not going to lie upon consumption in the past.
I've gotten very tired. So, you know, I would say if this is at all, And cannabis is not linked to any to better sleep and to better rest that there goes a lot of marketing for this, that. You know, they, they have to, if this study becomes mainstream and, you know, has any truth to it in terms of you know, in terms of effect on your body, this is there's going to be a major shift in marketing for, from cannabis companies and brands, because you can't advertise.
You know, this is Endeca, you know, you're going to rest. This is a wind down. You know, they'll have to change quite a bit. So, you know, it'd be interesting to see how the study progresses, but right now, I mean, nobody's worried about this. It's. Yeah, I think, I think, yeah, exactly. And like you said, I think studies like this will always be inconclusive because of the fact of, of how different cannabis is to every single person.
So you can get a different kind of strain. You can get a different kind of, you know, strength or potency. So. The user in a different way. So if you really, if you really are trying to find, you know, a cannabis solution to help you sleep there is definitely a strain out there. There's sir, there's some kind of, you know, cannabis or marijuana out there that will aid you in what you're trying to do.
Awesome. My friend, good bits of news today that, oh, wait, we have one more wait, there's one more. I wanted to end it on a really cool. A couple of days ago. Let's see. Let's see. So the world's largest T H C brownie was made and it came weighing in at 850 pounds. I think this is for national brownie day.
Yes. So when the bay with the bakery team at mayor meds, a new mask or Massachusetts edibles factory prepared to launch a new line of THC infused brownies, they had two ideas, debut Bobby's baked products on national brownie day and go big, really big.
I'm going to admit, I saw a picture of it and it looks like a giant square block of coal. Yeah. It doesn't look appetizing at all. They described it as the monster block of. Yeah, it's a block of chocolate. Wait a minute. 850 pounds. It's three feet wide and three feet long and 15 inches tall. God dense brownie, 800 pounds.
You want to take a guess on how much THC. I'm going to say a thousand. No, that seems way too low. I don't know. I don't know. Hit it with us. One teeth thousand milligrams of THC as 200 times, the dosage allowed in a single package brownie, which is a hundred milligrams. Wow. So it's, it's insane. So you could take the 11.25 cubic square foot brownie.
It would be sufficient to get you and 199 of your closest friends, quite high. So, Hey, if you've got a lot of friends hit, hit, hit up all your Facebook friends, you know, make a Facebook event and get this brownie. Yeah. I mean, I that's incredible. And honestly I'm sure it's no longer in existence.
That thing has been consumed. I'm just saying. No in the cannabis space, the brownie no longer exists. So people like the TSA don't need to worry about transporting that. Oh my gosh. That's just insane to look at, but yeah. Awesome. Aaron, this was fun, man. It was good to do this again. We have a whole other week to do this next week, but my friend have a great weekend.
And to all you investors out there. Have a fantastic weekend, make some money today tune in to benzinga.com/cannabis. Read up on the news rate and review this podcast. Let us know what you think and what you want. And we will do this again Monday. Thanks everyone. Investors. Thanks so much for tuning in to Benzing.
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