Michigan cannabis sales.
August cannabis sales came in at ~$208M compared to ~$210M in July which is a MoM decline of 1% but a YoY increase of 25.5%. Brand counts are up 14% YoY and unit growth is up 90.3% YoY. Unit growth also increased 1.2% from July to August indicating to us that the industry really is growing, but pricing pressure is dragging sales numbers down. Average price per product in August for the state of Michigan is down 34% YoY.
Trulieve Opens New Dispensary in Arizona.
Trulieve Cannabis Corp (TCNNF) is a Hedgeye Cannabis Best Idea Long.
Trulieve announced earlier today the opening of a new location at 1633 S. Highway 92, Sierra Vista, Arizona. The new adult-use-only dispensary will open its door Saturday, Oct.1. "Trulieveis excited to expand access to cannabis in Sierra Vista and build strong relationships in the community," said Kim Rivers, CEO ofTrulieve. "Our company is driven by our commitment to providing high-quality products and exceptional customer experiences. The new location will offer a wide variety of popular products including Trulieve brands such as Alchemy, Avenue, Co2lors, loveli, Modern Flower, Muse, and Roll One. Customers can also choose from a broad assortment of products from partner brands. Trulieve entered the Arizona market in October 2021 as part of its acquisition of Harvest Health & Recreation, Arizona’s largest cannabis retailer.
Cannabis Use = No Security Clearance.
As part of advancing the NDAA, leaders are also seeking to attach separate broader intelligence legislation that had included a provision preventing the denial of security clearances over cannabis when it was approved by a Senate committee earlier this year. But now, two senators have protested the inclusion of the marijuana language and it has been dropped from the measure, prompting the sponsor to separately file new, broader amendments on the issue. The House passed its own version of the NDAA in July, and that legislation included provisions on marijuana banking, psychedelics research, veterans’ medical cannabis access and more. This is just another example of getting absolutely zero cannabis reform movement from the Senate and paints a bleak picture that we get anything done by the time the new congress takes office next year. marijuanamoment.net
