Streetbeat News

Regulatory

BLOZF

Cannabix Technologies Inc. has filed an International Patent Application for its breath sample capture technology, which has detected delta-9 THC in early testing. The company is in discussions with forensic laboratory organizations to integrate its technology into current testing methods. This comes as California's employment laws change, prohibiting employers from making decisions based on the presence of non-psychoactive cannabis metabolites in drug screening.

Portfolio Pulse from Vuk Zdinjak

August 04, 2023 | 3:36 pm

GTBIF

Colorado Governor Jared Polis expressed satisfaction with the legalization of marijuana and psychedelics, citing benefits such as job creation and tax revenue generation. New Mexico set a record with $34 million in recreational cannabis sales in July 2023. Federal, state, and local officials voted to add new marijuana items to a federal handbook to establish model standards for cannabis definitions, packaging, and labeling. New York's legal cannabis sales reached $33 million in the first six months, falling short of projections. Employees at Warwick's RISE Dispensary in Rhode Island unionized with UFCW Local 328 after Green Thumb Industries (OTC:GTBIF) took over the dispensary in 2021.

Portfolio Pulse from Nicolás Jose Rodriguez

August 04, 2023 | 3:36 pm

SPY

Federal Reserve's Bostic stated that the U.S. jobs numbers were as expected and he is comfortable with the current situation. He also mentioned that the Fed is likely to be in restrictive territory well into 2024 and is on a trajectory to reach 2% inflation. He is not surprised that wages are still strong and is keeping an eye on it.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 3:36 pm

ACRHF

CURLF

GTBIF

Four military veterans have filed a lawsuit against the Office Of Cannabis Management (OMC) in New York, accusing it of violating the Marijuana Regulation and Taxation Act (MRTA) by prioritizing licenses for individuals with prior drug convictions. The plaintiffs argue that all 'social equity' applicants should have been prioritized, not just those with prior cannabis convictions. The lawsuit requests a temporary restraining order and preliminary injunction to stop the state from awarding and processing any further retail licenses. The OMC has so far issued 463 retail licenses to individuals with prior marijuana-related convictions and non-profits.

Portfolio Pulse from Nina Zdinjak

August 04, 2023 | 3:36 pm

SPY

VGK

Russian news outlets have reported that the judge in the Navalny case has sentenced him to an additional 19 years in jail, according to Reuters.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 3:35 pm

DWAC

SPY

Former President Donald Trump has called for the U.S. Supreme Court to intervene in the 2024 presidential race, claiming that his ongoing legal battles amount to 'election interference'. This comes after Trump pleaded not guilty to charges of trying to subvert the 2020 presidential race. Despite the legal issues, Trump continues to lead in the Republican primary polls.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 3:32 pm

DLTNF

TSX:DN

Delta 9 Cannabis Inc. (OTC:DLTNF) (TSX:DN) plans to expand its distribution and cross-docking business in Manitoba due to changes in wholesale distribution regulations by Manitoba Liquor & Lotteries Corporation. The new regulations, effective from July 31, 2023, will improve lead times for cannabis shipments and allow the company to bring additional cannabis inventory from third-party suppliers into the province. The company expects to increase its revenues from this new growth segment and shorten lead times for deliveries to 3 – 5 business days.

Portfolio Pulse from Vuk Zdinjak

August 04, 2023 | 3:31 pm

MESO

Mesoblast Limited's (NASDAQ:MESO) shares fell after the FDA required an additional trial for its resubmission of remestemcel-L for pediatric steroid-refractory acute graft versus host disease (SR-aGVHD). The FDA requires more data and Mesoblast will conduct a study in high-risk adults. The company has generated pilot data showing a survival benefit with remestemcel-L in this target population. However, analysts downgraded the stock due to a lack of clarity regarding the path forward for remestemcel-L.

Portfolio Pulse from Vandana Singh

August 04, 2023 | 3:29 pm

ASRT

Assertio Therapeutics reported its Q2 financial results and withdrew its 2023 financial outlook due to the recent approval of a generic indomethacin suppository by the US FDA. This has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 3:28 pm

MOBQ

Mobiquity Technologies, Inc. (NASDAQ:MOBQ) has announced a 1-for-15 reverse stock split to maintain compliance with Nasdaq's minimum bid price requirement. The company's common stock will begin trading on a split-adjusted basis from August 7, 2023. Mobiquity had previously received a delist letter from Nasdaq for non-compliance with the minimum stockholders' equity requirement. However, after presenting its plan to regain compliance, the company was granted an extension through November 14, 2023, by the Nasdaq Hearings Panel.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 3:25 pm