High-Rise: Cannabis MSOs, Products & Market Analysis

The High-Rise Episode 162: Welcome Back to the High-Rise!Join hosts Cy Scott (Headset) and Emily Paxhia (Poseidon) as they return to analyze October cannabis market data, discuss Q3 MSO earnings, and explore emerging industry trends. After a brief hiatus, The High Rise is back with data-driven insights on the state of the cannabis industry.Episode Highlights- Deep dive into October 2024 retail sales data across major markets- Analysis of Florida's market decline and the impact of recent hurricanes- Spotlight on New York's market growth and standout brands- Q3 MSO earnings review and market performance - Discussion of Florida's failed adult-use ballot measure- New Zealand study reveals cannabis's impact on other substance useKey Market Insights- California maintains market leadership with $350M in October sales- Arizona shows concerning 25% year-over-year decline- New York continues strong growth trajectory- Missouri stands out with ~8% year-over-year growth- Florida sees significant declines across multiple product categoriesNotable Brands in New York- Ayrloom (Top performer in 4 categories)- Off Hours (Edibles)- Ruby Farm (Pre-Roll)- Dank by Definition (Flower)- MFNY (Concentrates)- Episode 141: Cannabis & Alcohol- The presentation dataHeadset

Hey Headsetters, we're back with a new interview episode, this time with Verano's George Archos and Aaron Miles. We cover their wholesale strategy, a unique approach to loyalty and visions for the future.  Listen closely and you might actually catch the date that Schedule 3 is scheduled to happen (not really).In this conversation, George Archos and Aaron Miles from Verano discuss their company's performance in Q1 and their position in the cannabis industry. They talk about Verano's footprint, retail composition, and brands. They also discuss their focus on customer loyalty and the launch of their exclusive membership program, the Cabbage Club. The conversation touches on the growth of Verano's wholesale business, particularly in markets like New Jersey and Illinois. They also discuss the challenges and opportunities of opening doors in different markets and the importance of data-driven decision-making. The conversation concludes with a discussion about Verano's plans for expansion in Ohio and Florida. Verano Holdings is preparing for the launch of adult-use cannabis in Ohio and expects to see significant demand in both their stores and the wholesale market. TakeawaysVerano has a sizable footprint in the cannabis industry and is celebrating its 10th year anniversary.Verano focuses on high-quality products and has a range of brands catering to different market segments.Verano places a strong emphasis on customer loyalty and has launched the exclusive membership program, the Cabbage Club.Verano has seen growth in its wholesale business, particularly in markets like New Jersey and Illinois.Opening doors in different markets can be challenging, but Verano has been successful by building relationships and offering unique, innovative products.Verano is planning for expansion in Ohio and Florida, with expectations of significant sales growth in these markets. Verano Holdings is preparing for the launch of adult-use cannabis in Ohio and expects significant demand in both their stores and the wholesale market.Verano focuses on creating their own brands rather than acquiring existing ones, but they may consider acquisitions in the future.They are cautious about entering the hospitality aspect of the cannabis business, such as music festivals and lounges, due to regulatory hurdles and the difficulty of making the economics work.Verano is excited about the potential benefits of rescheduling cannabis, including being treated like a normal business, accessing banking services, and improving their marketing capabilities.They anticipate better polling numbers in Florida and potential news on Pennsylvania.Verano is well-positioned for future opportunities and is focused on being prepared for inclusion in the capital markets.KeywordsVerano, Q1 performance, cannabis industry, footprint, retail composition, brands, customer loyalty, Cabbage Club, wholesale growth, opening doors, data-driven decision-making, expansion, Verano Holdings, adult-use cannabis, Ohio, wholesale market, product offerings, acquisitions, hospitality aspect, regulatory hurdles, rescheduling cannabis, banking services, marketing capabilities, Florida, Pennsylvania, future opportunities, capital marketsHeadset

In this conversation, Cy and Emily discuss the recent announcement by the DEA that they will recommend rescheduling cannabis to Schedule III. They explore the potential implications of this decision, including its impact on the capital markets, banking reform, and the ongoing Commerce Clause case. They also touch on the significance of this shift in the federal government's view of cannabis and the challenges that lie ahead in the implementation process. Overall, they express cautious optimism about the future of cannabis legalization in the United States.TakeawaysThe DEA's recommendation to reschedule cannabis to Schedule III represents a significant shift in the federal government's view of cannabis and acknowledges its potential positive benefits.While rescheduling alone does not immediately change the criminality around cannabis or allow for uplisting and banking reform, it sets a strong foundation for future progress.The rescheduling decision may pave the way for discussions on capital markets and banking reform, as well as potential memos from the DOJ and the impact of the Commerce Clause case.The implementation process and potential challenges, including legal battles and administrative procedures, will play a crucial role in determining the actual impact of rescheduling.Despite the uncertainties and challenges, there is a sense of cautious optimism about the future of cannabis legalization in the United States.Chapters00:00 Introduction and Overview03:02 DEA Recommends Rescheduling Cannabis to Schedule III09:26 The Trauma and Optimism of Cannabis Legalization13:49 The Implications of Rescheduling16:13 The Commerce Clause Case and Fair Application of the CSAKeywordsDEA, rescheduling, cannabis, Schedule III, capital markets, banking reform, Commerce Clause case, implementation process, federal government, legalizationHeadset

Watch out Florida Man, the new headline is going to be about the big numbers that Florida will be putting up in a post adult-use legalized cannabis world. Join Cy Scott (CEO of Headset) and Emily Paxia (Managing Partner of Poseidon) discuss the exciting news that adult-use cannabis legalization has been approved for the November 2024 ballot in Florida - how we got here and what it means. Links:Florida Amendment 3 Ballot [Ballotopedia] Florida Supreme Court approves ballot measure to legalize recreational marijuana [ Politico]Headset

The commish is cracking down in New York, bringing the full might of the OGS to the legal cannabis market. Emily Paxhia and Cy Scott take a laid-back data-backed look at all the latest headlines coming out of New York -- good and bad! New York Must Figure Out How to Fix Cannabis Mess, Hochul Orders [NYTimes]Jenny's cannabis sales [Headset] The Comish [Wikipedia]Homeland Security, NYPD team up on cannabis smuggling investigation [Green Market Report]Top state cannabis official Damian Fagon put on administrative leave following NY Cannabis Insider investigation [NYup.com]Headset

Okay, so it's been a little while but we are back (by popular demand)! The High-Rise returns with an all-new episode where we discuss what's coming for the show this year, and cover the stories we think we'll be talking a lot about during this upcoming year. New York City vs. Upstate, Ohio timelines, Vapor Pen sales continued rise and Hemp D9 THC is everywhere! It's good to be back.Show links:NYC vs. NY cannabis sales analysis [Headset]Ohio is on schedule [FOX19] Headset

We did it everyone, 2023 is done!! Well, for the High-Rise podcast anyway. On this episode, Emily and Cy wrap up the year with a podcast episode discussing the significant growth and trends in the cannabis industry throughout 2023 and a look back at what was discussed throughout the year from 75 episodes worth of content! They wrap up the podcast and the year by thinking through 2024 and what is ahead for California. Thanks to everyone who's been with us this year, I hope your 2023 was great and your 2024 will be even better.Headset

In the latest High-Rise, Cy and Emily discuss the latest updates on cannabis legalization in New York and Ohio. They cover the settlement in New York and the approval of licenses for existing medical operators to transition into the adult-use market. They also discuss the disappointing progress of the cannabis industry in New York over the past year. The bulk of the discussion is on the recently legalized Ohio,  where they explore the recent legalization and the proposed changes to the law, including tax increases, home cultivation limits, criminal expungement, and more. They also touch on the potential impact of these changes on the Ohio market and the use of Luster Pods in the state.Links:https://www.headset.io/industry-reports/ohio-cannabis-market-overviewhttps://www.marijuanamoment.net/ohio-senate-marijuana-bill-keeps-criminalization-and-undermines-equity-despite-expungements-and-home-grow-advocates-warn/Headset

New York is (probably) back baby! So, in our latest episode, we dove into New York's cannabis scene – and let me tell you, it's been a wild ride. We kicked things off talking about how New York's retail footprint in cannabis exploded by 2600% - that's going from 1 to 27 stores, which is huge, right? But there's a catch; it's still just 27 stores, and we've got thousands of unlicensed ones around.We chatted about the CAURD program - that's the Conditional Adult-Use Retail Dispensary program. It's been a bit of a slow burn, honestly. There was this lawsuit from disabled veterans that really put things on ice. Now, there's a proposed settlement that might just shake things up, and we might see these stores finally opening up.There's a lot of potential brewing in New York's cannabis market. It's about getting those doors open, making sure everyone's included, and maybe, just maybe, we'll see some serious growth. Let's keep our fingers crossed and see what unfolds!Show notes:Adult-Use License Types$83M for 3Qs in New YorkHeadset

Hey all, hope you had a great Thanksgiving!In this episode of the "High-Rise Podcast," co-hosts Cy and Emily delve into the intricacies of Green Wednesday in the cannabis industry as its happening, focusing on emerging trends, market comparisons, and the nuances of consumer behavior. They examine the distinct dynamics between markets like Missouri and California, highlighting the differences in discounting strategies and sales patterns. The episode further explores the impact of store closures and shortened hours on sales trends, offering a unique perspective on how these factors influence market behavior.A significant portion of the discussion is dedicated to the evolving landscape of vaping in the cannabis industry. The co-hosts dissect the popularity of vaping among Gen Z consumers, emphasizing how this preference is shaping the market. They discuss the technological advancements in vaping, drawing parallels to the evolution of smartphones, and explore how these innovations are influencing consumer choices and preferences. The episode also touches on regulatory aspects and market compliance, providing a comprehensive overview of the challenges and opportunities within the cannabis industry.Headset

This episode explores 'whole day units' in Ohio's medical cannabis program and their impact on the market. Hosts Cy and Emily compare Ohio's cannabis regulations with other states, focusing on patient counts, dispensary numbers, and sales. They discuss Ohio's transition to legal adult cannabis use and speculate on its potential effects. The conversation also covers Snoop's decision to quit smoking and its implications for the industry. A significant portion of the podcast is dedicated to 'Green Wednesday,' highlighting consumer trends and sales patterns in cannabis before Thanksgiving. Show notes:Washington's Dream on SNLSnoop Dogg says he's giving up smoking after years of marijuana useHeadset

Join Emily Paxhia and Cy Scott in the latest episode of High-Rise, where they unpack Ohio's surprising jump into legalizing adult-use cannabis. It's a big deal, not just for Ohioans, but also for the political chessboard. The conversation then takes a turn into the world of cannabis heavyweights, diving into the Q3 financial drama of Multi-State Operators like Ascend, GTI, Terrasend, Verano, Trulieve, and Curaleaf. Emily lends her sharp expertise to dissect trends, successes, and the not-so-small matter of navigating the infamous 280E tax code. They also touch on the potential seismic shifts in federal policy and what this could mean for cannabis businesses. Wrapping up, our hosts explore the evolving strategies of cannabis companies, showing us how the industry is growing up, getting smarter, and maybe, just maybe, figuring it all out. Whether you're deep in the cannabis game or just casually tuning in, this episode is a delightful blend of insight, analysis, and just the right touch of humor - perfect for anyone who enjoys a smart take on the ever-evolving cannabis industry.

In this 150th episode of The High Rise podcast, hosts Cy Scott and Emily Paxhia celebrate milestones for the show and Cy's company Headset. Headset recently processed its 50 billionth dollar in cannabis point-of-sale data, equating to nearly 1 billion transactions. They also launched a free tool called Brand Explorer that lets anyone search and analyze cannabis brands and their performance. The hosts then discuss normalization and mainstreaming of cannabis, including Total Wine putting THC beverages on display in Minnesota and Green Thumb partnering with New York bakery Magnolia for cannabis edibles. They see these major brand crossovers as helping destigmatize cannabis use. Headset Cannabis Brand ExplorerTHC at Total WineGTI & Magnolia Bakery CollaborationHeadset

Join Emily and Cy as they host Darren Weiss, President of Verano as they discuss the genesis of the historic lawsuit filed against the federal government challenging cannabis prohibition under the Commerce Clause. The lawsuit argues that the federal government's current contradictory stance on cannabis - where it is illegal at the federal level but allowed and regulated in many states - violates the Commerce Clause by interfering with intrastate cannabis commerce.The lawsuit is spearheaded by law firm Boies Schiller Flexner with support from a coalition of cannabis companies. Verano president Darren Weiss explains how the Commerce Clause was originally intended to regulate commerce between states, not commerce within states. He argues the federal regulation of intrastate cannabis markets contradicts the original intent.Cy, Emily and Darren discuss how the contradictory federal policy impacts businesses of all sizes, from multi-state operators down to small social equity licensees. The lawsuit aims to open up banking, reduce tax burdens, and create fairness across the industry. While the case will likely take years to reach the Supreme Court, it represents a new front in the ongoing fight for cannabis law reform.Headset

In this episode of the podcast, Cy and Emily dive into the latest pre-roll industry report from Headset. They discuss how pre-rolls are exploding in popularity, especially in Canada where they now make up a third of all cannabis sales. Cy compares Canada's love of pre-rolls to Ned Flanders' Canadian counterpart and his fondness for doobies. The hosts talk about the growth of the connoisseur pre-roll segment, which has fueled much of the category's growth. They also touch on the rise of multipacks and some of the production challenges in scaling pre-roll manufacturing. Show notes / links:Headset Industry Report - Pre-Rolls: Analyzing category performance & sales trends"They warned me Satan would be attractive." - Ned FlandersHeadset

In this week's episode, Cy Scott and Emily Paxhia dive deep into the shifting dynamics of the cannabis market. They begin with a closer look at Missouri, where the top 5 local cannabis brands are emerging strong, now accounting for almost 30%. What's fueling this rise, and what does it signify for other regional players?  The discussion then transitions to a recap of the Benzinga Cannabis Capital Conference in Chicago. Cy and Emily recap the High Rise's first-ever live episode on stage at the event—a few key takeaways, and what a blast it was to podcast in front of a live audience. Emily also recapped on Meadowlands another industry event in Norther California organized by Meadow a leading point-of-sale tech platform in the industry.   Last but not least, they delve into the data, breaking down the sales metrics for cannabis in September. With their unique blend of expert analysis, casual banter, and a dash of humor, this episode promises to be both informative and entertaining for all listeners.https://www.benzinga.com/events/cannabis-conference/https://meadowplatform.comhttps://www.headset.io/markets

We are live! Or,  were live for that matter.Cannabis pioneer Kris Krane joins the High Rise at Benzinga in Chicago to reflect on his 25+ year career. He discusses pivotal moments like legalization in 2012 and his shift from advocacy to industry. Krane also provides an insider perspective on dynamics shaping the Illinois market and future growth opportunities. Tune in for a fascinating, in-depth interview with one of the leading voices in the cannabis reform movement.

This week, Cy and Emily dive deep into the transformative shifts in the cannabis industry. The much-anticipated SAFE Banking Act is finally approaching a Senate Committee vote, a monumental step in ensuring the industry's legitimacy. But the progress doesn't stop there!   The Cannabis Users' Restoration of Eligibility (CURE) Act aims to break barriers in federal employment due to marijuana use. Plus, with a majority of the US population now having access to adult-use legal cannabis, Cy and Emily ponder if we've reached the pivotal tipping point in cannabis acceptance. With parallels to the journey of gay marriage legalization, the momentum in the cannabis space is palpable.   As always thanks for streaming in with us here at the High Rise, if you like what we're doing, or if you have any feedback about the podcast, please let us know by leaving a review at www.highrise.fm ! https://www.marijuanamoment.net/key-senate-committee-officially-schedules-marijuana-banking-vote/https://www.fincen.gov/sites/default/files/shared/305326_MJ%20Banking%20Update%204th%20QTR%20FY2021_Public_Final.pdfhttps://www.marijuanamoment.net/congressional-committee-will-vote-on-removing-marijuana-as-barrier-to-federal-employment-or-security-clearances/https://www.mpp.org/news/press/states-surpass-$15-billion-in-tax-revenue-from-legal-adult-use-cannabis-sales/

In this episode, Cy and Emily discuss the shifts in Maryland's cannabis scene. They reference a Brookings Institute study which highlights surprising support for cannabis in the state's November '22 election. Interestingly, even traditionally conservative regions in Maryland backed the move to legalize cannabis, proving that the topic transcends typical political lines.Maryland's approach to cannabis equity stands out. The state's decision to open its first adult-use marijuana license applications exclusively for social equity businesses is noteworthy. These changes also come with a new outlook on regulations, including the significant step of not allowing police searches based on marijuana odor.On the sales front, Maryland has seen an impressive uptick in numbers, especially since recreational sales began. Price trends show increased costs in specific product categories, hinting at changing consumer preferences. The episode also sheds light on top-performing cannabis brands in Maryland, including the likes of SunMed, which has ties to the established Van Wingerden greenhouse legacy, and others such as Curio Wellness and gLeaf.Tune in with Cy and Emily to get an insightful overview of the evolving cannabis market in Maryland.https://www.brookings.edu/articles/marylands-cannabis-politics-offers-insights-for-the-nation/https://crabcakescannabis.comhttps://www.headset.io/markets/maryland

On this episode of the High Rise Cy and Emily decide not to talk too much about the recent news of the U.S. government's potential move to reschedule cannabis to a schedule III controlled substance. At this point there's no need to pontificate amongst all of the speculation bouncing around the industry until we get a substantial update from the government…so stay tuned everyone!    Shifting gears, our hosts get into a thorough analysis of August's cannabis industry sales figures, putting a spotlight on some of the top brands making waves this month along with he following insights:The overall market performance.The competitive landscape in Maryland's burgeoning cannabis market after its second month of sales – Who's coming out on top?A detailed breakdown of breakout brands, including the Elfbar clone in WA.The varying performances of MSOs in wholesale across different markets, with a case study contrasting &Shine's journey in Nevada vs. Illinois.An overview of top brands, basket trends, and a projection on how 2023 might wrap up for the industry.Stream through to the end of this data-backed episode to get a good 360-degree view of the current state and potential future of the cannabis industry. 

In this episode of High Rise, Cy and Emily delve into the unfolding narrative of Ohio's imminent cannabis ballot initiative. The hosts unpack the Coalition to Regulate Marijuana Like Alcohol's journey to secure signatures, detailing the suspenseful race against time and the subsequent validation process. They outline the proposed legal framework, including the creation of a Division of Cannabis Control and a 10% sales tax on marijuana, with revenue dedicated to a social equity program.By drawing parallels with Michigan's successful revenue model, Cy and Emily project a substantial market potential for Ohio. The hosts discuss the intricate balance between public sentiment and political opposition, providing insight into the potential influence of Governor Mike DeWine's stance on legalization.https://www.youtube.com/watch?v=tWIhLmIiYzAhttps://www.marijuanamoment.net/ohio-marijuana-legalization-measure-falls-679-signatures-short-of-november-ballot-but-activists-now-have-10-days-to-fix-that/ 

On this episode of the High Rise Cy and Emily paint a vivid picture of how cannabis brands are quenching their thirst for beer ventures specifically, Tilray purchasing eight beverage brands from AB/InBev. The discussion explores the implications of this cross-industry relationship on the evolving landscape of both markets. Our hosts also take a quick look into the recent Ohio cannabis legalization initiative that will make its way to the state's November ballot. Stream the entire episode so you don't miss a thing!https://www.marijuanamoment.net/ohio-marijuana-legalization-initiative-will-appear-on-the-november-ballot-state-officials-announce/#google_vignette

Join Cy and Emily in an insightful conversation with John Hartmann, the new CEO of Ascend Wellness, as they delve into the dynamic world of leadership, strategy, and growth in the cannabis industry.The discussion takes a deep dive into Ascend Wellness's strategic operations. John shares unique insights gained from spending extensive time at each of the company's dispensaries and cultivation facilities. The CEO sheds light on the impact of limited licenses in generating high revenue per store and discusses the strategic approach for states that are further from legalizing adult use. The conversation also touches upon Ascend's immediate near-term objectives for improvements across the company, with a focus on data-driven strategies and planning for market transitions from medical to adult use. https://www.awholdings.comhttps://www.linkedin.com/in/john-hartmann-821210/

Join Cy and Emily on The High Rise as they explore the dynamic landscape of New Jersey's cannabis program. In this episode, they begin by delving into the recent amendments made by the Cannabis Regulatory Commission, prioritizing cannabis licensing for social equity applicants for three months starting September 27. The hosts discuss the implications of these changes, the focus on wholesale, distributor, and delivery licenses, and how it impacts diversely owned businesses.The conversation continues as Cy and Emily address the grilling of the Cannabis Regulatory Committee of New Jersey before a Senate Judiciary Committee. Learn about the concerns raised, including cannabis accessibility to minors, the challenges faced by medical-only dispensaries, and the debate surrounding the state's expensive marijuana prices. They also shed light on Curaleaf's decision to reduce production amid claims of an ample marijuana supply in the state.Discover the latest statistics and market trends in New Jersey, including the decline in the medical market and the impact on patient numbers. The hosts examine the state's current licensing status and the challenges posed by neighboring states' market expansion.

In this episode of The High Rise, Cy and Emily provide a comprehensive look at the state of Illinois' cannabis program, exploring recent modifications to 55 new adult-use licenses. Tune in as they discuss the key changes in the licensing process, the use of a lottery system for selecting winners, and the removal of residency requirements and bonus points for military veterans. Our hosts also shed light on the challenges faced by entrepreneurs awarded licenses in raising necessary funds to open their stores.Join the conversation on The High Rise as Cy and Emily delve into Illinois' social equity initiatives established by the Department of Commerce and Economic Opportunity (DCEO). Learn about the technical and financial assistance provided to social equity applicants to level the playing field and foster their successful participation in the legal cannabis industry. Gain valuable insights into the criteria for social equity applicants and how these measures aim to support individuals and communities historically impacted by cannabis-related arrests and imprisonment.As the episode continues, our hosts discuss Headset's Insights product launch for Illinois coverage, providing data on sales growth, category performance, and market trends in the state. Discover how Illinois' cannabis market has evolved over the years, its position as the third-largest market in the US, and the opportunities and challenges it faces amidst fluctuating sales growth.https://dceo.illinois.gov/cannabisequity.html

In this episode of The High Rise, Cy and Emily dive into the intriguing phenomenon of THC inflation in the cannabis industry. They begin by addressing Organigram's recent earnings call, where CEO Beena Goldenberg highlighted the issue of falsely labeled cannabis products with exaggerated THC levels. Shockingly, nearly 50% of cannabis flower sales in Q3 were found to be labeled as containing 26% or more THC, a figure that has doubled in the last 10 months. The hosts discuss the impact of THC inflation on consumer trust, market dynamics, and the need for regulatory enforcement.https://mgmagazine.com/business/retail-merchandise/edibles-trending-toward-high-potency/

In this episode of The High Rise, we delve into the latest news in the cannabis industry regarding a trademark infringement case. Tune in as we discuss the case involving the popular marijuana strain Zkittlez, which recently faced legal pressure from confectioner Wrigley, the owner of the Skittles trademark. Don't miss this episode that sheds light on the evolving landscape of intellectual property in the cannabis space.https://mjbizdaily.com/wrigley-wins-lawsuit-to-keep-skittles-name-off-marijuana-productshttps://www.cbsnews.com/news/weed-edibles-kid-friendly-packaging-doritos/#:~:text=Feds%20crack%20down%20on%20companies%20marketing%20weed%20edibles%20in%20kid%2Dfriendly%20packaging,-By%20Megan%20Cerullo&text=Edible%20cannabis%20products%20sold%20in,Federal%20Trade%20Commission%20said%20Wednesday.https://www.leafly.com/strains/runtz

Join Cy and Emily as they uncover some of the buzz around Maryland's initial weekend of legal cannabis sales. Plus, get a nice little breakdown on 4th of July sales trends across the U.S. cannabis industry, delving into the evolving dynamics of cannabis consumption that occurs during this festive summertime holiday.

In this episode of The High Rise, Cy and Emily are joined by special guest Mitch Trellis, co-founder of Remedy, a leading retail chain in Maryland. Join them as they dive into an exciting discussion about Maryland's highly anticipated launch into adult-use recreational cannabis. Mitch provides valuable insights into the state's regulatory framework, market dynamics, and the potential impact of this milestone on the industry. Get an exclusive behind-the-scenes look at the preparations, challenges, and opportunities that come with Maryland's transition. https://www.linkedin.com/in/mitchelltrellis/https://remedymaryland.com

In this episode of The High Rise, Cy and Emily delve into the latest cannabis news and industry updates. They start by discussing the significant development that the U.S. Department of Health and Human Services (HHS) is conducting an administrative review of cannabis scheduling, with plans to present President Joe Biden with a federal cannabis scheduling decision later this year, as revealed by HHS Secretary Xavier Becerra. Join our hosts as they analyze the potential implications of this review and its impact on the cannabis landscape.Additionally, Cy and Emily address the recent news of the closure of HERBL, a prominent California cannabis distributor. They examine the reasons behind HERBL's shutdown and use it as a starting point to explore the broader concept of industry shakeouts. Our hosts shed light on how businesses in any industry, including cannabis, undergo natural cycles of restructuring and consolidation. Stick around to end of this episode as they discuss the lessons and implications of industry shakeouts for the cannabis sector.https://hbr.org/1997/03/strategies-for-surviving-a-shakeouthttps://www.benzinga.com/markets/cannabis/23/06/32884597/federal-cannabis-scheduling-decision-expected-this-year-says-bidens-health-secretary

In this episode of The High Rise, Cy and Emily explore the exciting developments surrounding Alabama's upcoming medical marijuana program. Join them as they discuss the state's journey, from the signing of the program into law in 2021 to the preparations for the launch expected this year. Delve into the details of Alabama's medical marijuana program, including the licensing process, product categories (gelatinous cubes any body?) its potential impacts, and the overall cannabis landscape in the state.

In this exciting episode of The High Rise, Cy and Emily bring their insights straight from New York City as they delve into the rapidly evolving cannabis market in the state. Joining them is special guest Jeffrey Schultz, an attorney and investor with extensive knowledge of the industry. Together, they explore and analyze the unfolding landscape of the New York cannabis market. From regulatory updates to investment opportunities, they provide a deep dive into how the market is taking shape and what it means for entrepreneurs, investors, and consumers. Don't miss this enlightening conversation that uncovers the dynamics and potential of the New York cannabis industry, exclusively on The High Rise.https://www.linkedin.com/in/jeffreyschultz/https://mjbizdaily.com/cannabis-msos-set-to-enter-new-york-adult-use-market/

In this week's episode of The High Rise, Cy and Emily dive into the latest update on the SAFE Banking Act. Join them as they discuss the recent developments and insights gained from Emily's investigating the hearings in Washington D.C. Get an inside look at the progress and potential impact of the SAFE Banking Act on the cannabis industry.

In this special rerun episode, we're revisiting our conversation with US Representative Nancy Mace from South Carolina. Pulled from the archives, we sit down with Representative Mace to discuss The States Reform Act, a bill she introduced that seeks to remove cannabis as a Schedule I drug. We also dive into her personal journey in the cannabis industry and the potential positive impacts that cannabis legalization could bring to Americans in the future. Don't miss this insightful and timely discussion, exclusively on The High Rise.https://www.youtube.com/watch?v=vRKeDSsxqig&t=120shttps://twitter.com/donmurphy12a/status/1649101872710533140

This week on The High Rise, we're discussing recent bank failures and closures and their potential impact on the SAFE Banking Act. As more states legalize cannabis, the need for secure banking solutions for cannabis businesses becomes increasingly pressing. Join Cy and Em for a timely discussion on the latest developments in cannabis banking and the potential impacts on the SAFE Banking Act.

In this week's episode of The High Rise, we're covering 4/20, the unofficial holiday celebrated by cannabis enthusiasts worldwide. Join us as we examine the cultural phenomenon of 4/20 and its impact on the cannabis industry, including exclusive insights into sales numbers from Headset's Insights platform. Don't miss out on this highly informative and fun post 4/20 breakdown.https://www.headset.io/posts/a-look-at-last-years-4-20

In this week's episode of The High Rise, we're thrilled to welcome back Andrew Carter, Director and Consumer Analyst at Stifel. Andrew joins us to delve into the latest notable moves being made by Canadian cannabis LPs (Licensed Producers) and to provide his expert analysis on these developments. Tune in for an insightful and engaging discussion on the current state and future of the Canadian cannabis market, exclusively on The High Rise.https://www.greenmarketreport.com/canopy-growth-reaches-deal-on-c100-of-debt/https://www.bloomberg.com/news/articles/2023-04-17/toronto-exchange-fights-to-keep-stock-listings-in-canada-over-us?sref=jT1g8YPW&leadSource=uverify%20wall

In this week's episode of The High Rise, we're excited to welcome back Matt McGinley, a Managing Director at Needham & Company and a regular guest host on the show. With his wealth of cannabis industry analysis and financial knowledge, Matt joins Cy and Emily to dive into the latest earnings news from major industry MSOs, as well as insights into the current state and future of the cannabis market. With so much to unpack, you may want to listen twice to catch all the valuable info shared on this episode.https://www.linkedin.com/in/matt-mcginley-4827516/https://www.needhamco.com/team_members/matt-mcginley/

So the market for T-shirts, hats, paintings and even motivational speeches is going to get a lot smaller in Washington D.C. and for good reason! They are finally building out their ‘adult-use' market. For a city known for its dysfunction, the news this week on the new law around DC shows some meaningful progress. https://www.marijuanamoment.net/d-c-medical-marijuana-expansion-bill-eliminating-licensing-caps-becomes-law-following-congressional-review/https://gentlemantoker.com/how-do-i-get-weed-in-dc#layout-xMmjzufsEgyeUlzzhttps://www.businessinsider.com/district-derp-marijuana-washington-dc-dog-paintings-2020-5https://www.axios.com/local/washington-dc/2022/08/16/dc-crack-down-marijuana-gifting-shops

It seems like with each new legal adult use recreational market that opens up, there's usually some kind of litigation involved—and the state of New York is no exception. On this episode of the High Rise, Cy and Emily shed some light on some of the drama happening in NY and why several major cannabis companies have had it with the way policy makers are trying to run things.https://cannabis.ny.gov/dispensary-location-verification

Happy Pi Day! Speaking of numbers, banking in the cannabis industry is still a total mess. In light of the recent collapse of Silicone Valley Bank, Cy and Emily felt compelled to talk about the ever persistent banking issues that plague the industry, as well as the historic (now 10 years old) Cole Memo. 

If any category has the ability to differentiate and innovate itself more than most others, its Vapor Pens. Give this episode a full stream to hear Cy and Emily's data backed analysis on this highly adaptive product category.https://www.headset.io/industry-reports/a-look-at-cannabis-vapor-pen-sales-trends#formhttps://www.bloomberg.com/news/newsletters/2023-02-27/vape-ip-center-of-attention-as-blinc-faces-off-against-chinese-competitor

This week on the High Rise, Cy and Emily dive into the topic of pricing trends around the industry at large. MJBizDaily recently published an article that scratches the surface on cannabis sales in California falling in 2022. Our hosts decided it would be a good idea to drill into this story much further and look at the pricing data in each market to find out why dollar sales are falling amid these inflationary times the world is going through right now.https://mjbizdaily.com/californias-annual-cannabis-sales-fell-in-2022-for-the-first-time-since-adult-use-launch/

Twitter has just announced that they will now open up advertising on its platform to cannabis companies. This is huge news for an industry that's been previously prohibited to advertise on mainstream social media channels. Cy and Emily get into all the interesting details and data points around this positive news, as well as kindly critique a Marvel movie or two along the way.

Welcome back to the High Rise! We've got another great episode for you as Cy and Emily welcome a very special guest, Kyla Sirni CEO and co-founder of Dispense. Dispense is an e-commerce software that empowers cannabis dispensaries to list and sell products on their own website, giving owners the ability to utilize their online menus to increase SEO, drive sales, all while creating and owning their own customer database.Prepare you ears for some fascinating cannabis tech talk, where Cy, Emily, and guest Kyla share their stories and passions for wanting to help business owners succeed in this exciting and ever evolving industry. https://www.dispenseapp.com/abouthttps://www.linkedin.com/in/kylamoore/

Missouri wasted absolutely no time in setting up its legal cannabis program — the state even opened its doors ahead of schedule! Cy and Emily marvel at this refreshing example of how a new adult use market can legislatively get out of its own way and get things done — unlike many other states that shall not be named here.  https://www.ksdk.com/article/news/local/thc-infused-red-hot-riplet-brownies-st-louis-missouri/63-f512c8e2-db4c-4508-ab66-83c067f5dbbdhttps://www.chicagotribune.com/marijuana/illinois/ct-illinois-marijuana-okay-dispensary-20230202-5v2m5kf6rjgdtf4ug56cymslii-story.html

On this episode of the High Rise Cy and Emily talk about Emily's recent winter trip to New York where she had a chance to visit a couple of the new fully legal cannabis shops in NYC. Our hosts also get into the top of interstate commerce from California and how that ties into other markets on the East Coast. https://twitter.com/mkarnes/status/1620215988519313409https://www.syracuse.com/marijuana/2023/01/finally-some-information-about-nys-200m-cannabis-fund-managers-sees-the-light-of-day.htmlhttps://www.leafly.com/brands/fire-ass-mids

Already at the top of the year we're seeing 4 new states that will soon take us to 25 total states in the US with legal cannabis programs—almost halfway there! Stream the whole episode as Cy and Emily reveal who's on the docket for legalization and some interesting insights that only the High Rise can give ya. 

Now you can legally buy recreational cannabis in New York! The first legal sale of recreational weed took place in a dispensary in Manhattan, just meeting the state's deadline to open a store in 2022.Housing Works Cannabis Co., on Broadway and East 8th Street, and the dispensary's first customer before the doors were opened to the public at 4:20 p.m. Cy and Emily dig into the all the details behind this one of a kind store with a couple other headlines to roll it all up.https://hwcannabis.cohttps://www.nytimes.com/2022/12/29/nyregion/ny-weed-sales.htmlhttps://www.charitynavigator.org/ein/133584089https://illinoisnewsjoint.com/illinois-cannabis-curbside-pickup-ends-jan-1/

Welcome back to the High Rise! On this episode we wanted to share a Q&A session from a webinar series produced by Trailblazers, a cannabis content community that seeks to advance the industry, unified by a shared ethos and vision of the future. We hope you enjoy hearing from Cy and Emily while they field some great questions around a 2022 recap and some forward looking predictions for 2023 https://www.trailblazerspresents.comhttps://alpharoot.com

This week on the High Rise we are very excited to have two great guests join us on the pod. Sara Stewart CEO and Co-founder of Ritual Cannabis Hospitality and Scot Rutledge Partner at Argentum Partners who'll be breaking how cannabis consumption lounges will work in the great state of Nevada. https://ritualteam.comhttps://www.instagram.com/mssarastew/https://www.linkedin.com/in/mssarastew/https://www.linkedin.com/in/scot-rutledge/https://argentumnv.com/scot-rutledge/https://ctrust.io