It’s time for your Daily Hit of cannabis financial news for February 27th, 2020. 

On the Site

Top Selling CBD Products on LeafLink

LeafLink broke down the data of their top-selling products at the request of Hemp Market Report, with the top-selling product being Mary’s Medicinals patch priced at $10. The rest of the list is as follows: 

Most purchased products containing CBD (by order volume)

• 1:1 CBD:THC Patch, 100 mg – Mary’s Medicinals
• 1:1 CBD/THC Sour Gummies, Strawberry Lemonade – Wana Brands
• 10:1 CBD/THC CBD Therapy Assorted Pucks, 200 mg  – CannaPunch

Top categories for products containing CBD 

• Edibles & Ingestibles 
• Cartridges 
• Topicals 

Top-selling brands with products containing CBD 

• Terrapin Pennsylvania 
• Wana Brands
• Mary’s Medicinals

Social Club TV Gives Cannabis Content a Home

Green Market Report was able to talk with Josh Otten of Social Club TV. Social Club TV is a collaboration of RONIN Content Services (CEO Josh Otten) and Cookies (CEO Berner Milan Jr.) This is a cannabis network that will be available for streaming on Apple TV, Amazon Prime, Roku, and Pluto. The network features over 17 series and 300 episodes. 

Innovative Industrial Properties Generates $17 Million in Q4 

Innovative Industrial Properties, Inc. (NYSE: IIPR) reported its earnings from the fourth quarter yesterday, exceeding analysts’ expectations. The quarter ended on December 31st, 2019. 

The cannabis real estate company reported total revenue of approximately $17.7 million in Q4, an astonishing 269% increase from the prior year’s quarter. This is an amazing jump from the companies total revenue of just $4.8 million in Q4 of 2018. 

Vermont Takes Another Step Towards Legalization of Recreational Cannabis

On Wednesday, the Vermont House of Representatives voted in favor (90-54) of a bill that would legalize, regulate, and tax cannabis sales for adults 21 and older. 

According to the Marijuana Policy Project, S. 54 will now be scheduled for a final House vote, which is expected tomorrow. If it passes there, it will return to the Senate, which has already approved a different version of the bill in a 23-5 vote. The House and Senate will have to agree on a final version of the bill before it can proceed to Gov. Phil Scott’s desk.

In Other News

Acreage Holdings Stock Falls Due to Q4 Earnings 

Acreage reported a loss of $50.5 million over the 3-month period of Q4, with revenue coming in at $21.1 million. Despite revenue for the full year reaching $155 million, full-year net loss was US$150.3 million, leading to an 8% drop-off in Acreage stock.