The Daily Hit is a recap of cannabis business news for August 18, 2022.
ON THE SITE
Ayr Wellness Raises Guidance Despite Headwinds
Ayr Wellness Inc. (OTCQX: AYRWF) hiked its outlook for the year on Thursday despite posting results that missed expectations — as sales slip and losses rise. The multi-state operator reported financial results for the first quarter ending June 30, 2022. Read more here.
Decibel Sees Record Revenue, Preps for Exports to Israel
Decibel Cannabis Company Inc. (TSX-V: DB) (OTCQB: DBCCF) posted promising results as it continues to find gains in the Canadian market and overseas. The Alberta-based company delivered its financial report card using Canadian dollars in the period ending June 30, 2022. Read more here.
Medical Marijuana Sales Slip in the Second Quarter
Medical Marijuana Inc. (OTC: MJNA) reported $7.8 million in net revenue in the second quarter of 2022. This fell from last year’s revenue of $9.6 million for the same time period in 2021. The company also reported a net loss of $11 million versus last year’s net income of $7 million. Read more here.
JuicyFields Ponzi Scheme Highlights Many Points of Failure
Like the plot of an improbable fintech thriller, cannabis e-investment conglomerate JuicyFields has imploded into an apparent Ponzi scheme of massive proportions, leaving tens of thousands of online investors wondering who is responsible for the biggest swindle in cannabis. Read more here.
Americans Perception of Psychedelics is…
