Benzinga Events with Elliot Lane

Benzinga

Benzinga Events with Vice President of Event Partnerships Elliot Lane today on Blunt Business with Jorge Hermida only on The Cannabis Radio. While cannabis companies are announcing strong growth despite nationwide inflation. As calls for a recession are being made, cannabis companies reported close to $6.6 billion in legal cannabis sales, the largest quarter reported to date.

To outline the state of the industry and current market opportunities, Benzinga will bring to the stage a celebrated lineup of over 150 speakers to their upcoming Cannabis Capital Conference in Chicago on September 13th and 14th. Some reports have stated trends in 2022 where Multistate operators have found it easier to enter new markets by acquisitions rather than building from scratch.

Plus, there has been a pickup in public companies buying other public companies, and these acquisitions are driven by long-term strategic reasons rather than financial benefits. Finally, there is a sense that federal legalization is coming, fueling the acceleration of industry consolidation. A recent Benzinga story talked about how cannabis demand has remained consistent and predictable during this period of increased inflation.

“ Data reflects this, both in dispensary visits and per transaction spends This strong demand is not surprising and is similar to the resiliency of cannabis demand in a recession”. From another Benzinga article: “The Secure and Fair Enforcement (SAFE) Banking Act that would allow financial institutions to serve legal cannabis businesses, passed the U.S. House for the fifth time last September.

The legislation has yet to make progress in the Senate, but the “UNSAFE Banking & Cannabis” panelists agreed that the bill would remove barriers to entry that have kept smaller and minority-owned businesses from growth, as well as eliminate some of the public safety concerns associated with an all-cash industry, reported Cannabis Business Times.