The Daily Hit: February 28, 2024

The Daily Hit is a recap of the top financial news stories for Feb. 28, 2024.

On the Site

New York governor calls on Google, Yelp to stop listing unlicensed stores

New York State Governor Kathy Hochul on Wednesday called out social media companies for helping to promote unlicensed stores and New York legislators for not allowing more strict enforcement. Read more here.

Green Thumb Industries crushes fourth-quarter, full-year earnings

Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF) reported its revenue rose to $278 million in the fourth quarter that ended Dec. 31, 2023. That 7% increase was primarily attributed to higher sales in Maryland, reflecting the legalization of adult-use cannabis on July 1. Read more here.

Ohio regulators propose eliminating annual patient fees, reducing processor fees

Ohio regulators have proposed changes to marijuana program rules that would eliminate annual fees for medical marijuana patients and caregivers, reduce annual registration fees for processors, and also allow licensed cannabis companies to hire employees on a provisional basis. Read more here.

Planet 13 cuts expenses, net loss in the fourth quarter

Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNH) reported revenue in the fourth quarter fell 7.5% to $23 million from last year’s fourth quarter revenue of $24.8 million. Net loss for the year improved dramatically from 2022’s $38.6 million to just $14.3 million. Read more here.

Turning Point Brands profits climb despite Zig-Zag sales dip

Smoking accessories maker Turning Point Brands Inc. (NYSE: TPB) reported a mixed bag of financial results for the fourth quarter and full year ended Dec. 31, 2023, though the firm managed to turn a profit and keep its piggy bank in check. Read more here.

In Other News

Ayurcann Holdings Corp.

Ayurcann Holdings Corp. (CSE: AYUR) (OTCQB: AYURF) reported gross revenue increased to $10.7 million for the three-month period ended Dec. 31, representing an increase of 141% over the previous year. Read more here.

Greenway Greenhouse Cannabis Corp.

Greenway Greenhouse Cannabis Corp. (CSE: GWAY) (OTCQB: GWAYF) reported $1.4 million in revenue for the third quarter ended Dec. 31. This is an increase of over 33% from the same quarter in fiscal 2023, and the second-best revenue quarter in the company’s history. Read more here.

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