Nevada Monthly cannabis trends.
Nevada cannabis sales for the month of November came in at ~$70M which was down 3.9% sequentially but up 0.4% YoY. The sequential decline was due to a mix of unit volumes being down 2% and pricing power also being down 2%. Unit volumes are up 15.6% YoY but that is being off set by the average unit price is down 13.1% YoY.
Monthly Q&A + Industry Trends Call.
CALL DETAILS:
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We are hosting our monthly Q&A and Cannabis Industry Trends Update call for subscribers next Wednesday. We will answer questions regarding our position monitor, our process, and legalization, as well as give an update on our state-by-state cannabis sales tracker.
Please submit your questions in advance to - You can also submit them live during the event, but chances are you will get a better answer from us by sending them in advance!
Another headwind ahead for the cannabis industry.
Euroclear, which serves 90% of the world’s 50 largest banks as a clearing house, has informed investors that it will ‘no longer support international cannabis-related stocks come 2023. The cannabis industry has gotten hit with many headwinds in the last few weeks, from SAFE not being included in the NDAA to debit cards being banned in dispensaries to now the actual stocks not being able to pass through the largest clearing house. You could ask why would Euroclear do this? The answer is pretty obvious, the risk/reward of clearing trades of cannabis companies that operate in U.S. where cannabis is federally illegal just isn't there anymore. In a statement, “Euroclear, a custodian that we and a number of UK stockbrokers use, have announced they will no longer support international cannabis-related stocks… They are making this change following a review of all international cannabis-related stocks in which they decided they no longer meet the admission criteria to trade.”
