The Daily Hit is a recap of cannabis business news for Nov. 21, 2022.
ON THE SITE
New York Awards Adult-Use Retail Licenses, But Heaps of Questions Remain
The New York Cannabis Control Board on Monday awarded its first round of adult-use cannabis permits, along with 282 pages of new industry rules and some significant policy updates. But a small mountain of questions remains for stakeholders, leaving the market’s near future still shrouded in uncertainty for many. Read more here.
Nonprofits Among the First Licensees for New York Adult-Use Cannabis Market
More than 900 applicants submitted the paperwork for the New York CAURD licenses, which was far less than the OCM had hoped for. At least three New York City-based nonprofits Housing Works, The Doe Fund, and LIFE Camp confirmed they had been chosen. Read more about these organizations here.
Cannabis Retail Expects Solid Boost from Green Wednesday
Summer often gets the credit as the prime season for cannabis sales, but the back end of the year is no slouch. Several dispensary brands told Green Market Report that business typically jumps anywhere from 10% to 30% between the week before Thanksgiving and the start of the new year. Read more here.
Chicago Dispensary Gets Zoning Approval for Former Rainforest Cafe Site