Illinois Cannabis trends.
Illinois cannabis sales came in at ~$157M for October, a sequential decline of 1% and a YoY increase of 1.3%. 1.3% YoY growth is not the top-line growth that companies are paying for when they speak about the growth drivers of this market. Unit volumes were up 14.3% YoY but down 0.6% sequentially. Pricing is down 0.5% sequentially and 11.4% YoY. This is the 19 straight months that Illinois has seen negative pricing growth per unit sold. When will this, the most significant headwind to the industry, pass through? Your guess is as good as ours. The data looks to be getting less bad, but we would have expected a turn in this data by now.
Hedgeye D.C.
Yesterday, on "The Call," @HedgeyeDC said if we don't get cannabis reform done in the lame-duck session, it could be years down the road. If the republicans take the House and Jim Jordan is the Likely Chair of the Judiciary Comm, all bets are off for cannabis reform. Sen. Cory Booker (D-N.J.) agrees. He said that Democrats who want marijuana reform must do it "now" or else risk waiting "many years from now" when the party will control both houses of Congress. "When the House of Representatives takes over — even though there's a lot of House members from states that have legalized marijuana in one way or the other — I just don't see the Republicans wanting to advance that," Booker said during an interview with NJ Spotlight News. "So, it's either now, or it might be many years from now," he added.
'Holy Ears' By Mike Tyson and Evander Holyfield
Probably one of the most iconic scenes in boxing history was when Mike Tyson bit part of Evander Holyfield's ear off in 1997. Now the two are teaming up to launch a line of cannabis-infused edibles called "Holy Ears." The two former boxers are reuniting under the newly formed cannabis company Carma Holdings, which also houses Tyson 2.0, Tyson's existing cannabis company. "From Mike Bites to Holy Ears, now cannabis fans around the world can experience the same wellness benefits that plant-based products have brought me," Tyson said in a statement, adding that it is a "privilege to reunite" with his former opponent. "Mike and I have a long history of competition and respect for one another. And that night changed both of our lives. Back then, we didn't realize that even as power athletes, we were also in a lot of pain," Holyfield said. "Now, nearly 20 years later, we have the opportunity to share the medicine we needed throughout our careers."
