Maryland's Green Rush With $55M In Weed Sales, Hemp Cultivators Sue Alaska And More Cannabis Regs
Portfolio Pulse from Jelena Martinovic
Maryland's cannabis market saw $90 million in sales in October, with recreational sales reaching a new record of $55 million. Ascend Wellness Holdings Inc. (OTCQX:AAWH) reported a 13% sequential increase in retail revenue due to marijuana sales. Meanwhile, Missouri's medical cannabis program will transfer $13 million to the Missouri Veterans Commission. In Alaska, a lawsuit has been filed against the Department of Natural Resources by a collective of hemp cultivators and producers over recent restrictions on hemp products.
November 09, 2023 | 9:30 pm
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Ascend Wellness Holdings Inc. reported a 13% sequential increase in retail revenue, largely due to marijuana sales in Maryland.
The increase in marijuana sales in Maryland has directly contributed to Ascend Wellness Holdings' increase in retail revenue. This positive financial performance could potentially lead to a short-term increase in the company's stock price.
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