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The Weekly Roll - November 29th 2024 - ZZZ's Collective

The Weekly Roll - November 29th 2024

Happy Friday!

I hope everyone had a wonderful Thanksgiving yesterday, full of laughter, love, and lots of eating! Welcome back to The Weekly Roll! Take a look below to see what’s going on this week in cannabis and art:

Florida Diversifies Medical Market : Florida announced the issuance of another 22 business licenses for medical cannabis this week, which marks the first time a new license has been awarded since 2017. Right now, only 28 companies have been operating which has led to serious concerns around monopolies in the market, as the largest operators have taken huge percentages of the medical market share. This expansion is due to a law stating that 4 new licenses should be granted for every additional 100,000 medical patients in a state that has seen 900,000 additional medical patients since 2017. Article 

Denmark Goes Permanent : The 6 million-person country in Northern Europe started a trial medical cannabis program in 2018, and will now move to make the existence of a medical cannabis market permanent. This decision comes after seeing significant growth in their trial program and confirming a lack of negative societal/health impacts caused by the program. Making the move permanent will pave the way for better education around the use and prescription of cannabis for doctors, and an expanded level of access to treatment for citizens. The most common age group using the program is 42-64 years old, but there has been a recent trend in growth from those aged 18-41. Denmark will join European countries like Germany, France, Spain, Ukraine, and Portugal who are all taking different approaches to offering legal cannabis to their citizens. Article

Interesting Number : 52%. The percentage by which Green Wednesday Sales surpassed the average Wednesday for cannabis retailers in 2023. This number was up compared to 2021 which saw a 33% increase, showing the increase in efforts by the market to capitalize on the day before Thanksgiving. Interestingly, despite the huge day, Thanksgiving week saw an overall decrease in sales by 8%. It will be interesting to see the Green Wednesday numbers from this year when they come out soon. Article

Modern Art Gets Eaten : One of the most fascinating pieces of recent Modern Art has been Maurizio Cattelan’s Comedian, which is a banana duct-taped to a white canvas. Last week, Chinese Crypto investor, Justin Sun, won the piece at auction for $6.2 million and proceeded to eat the banana. Before you get any ideas (or sick to your stomach), the banana is replaced every 2-3 days the piece is displayed. This marks the third time the banana has been eaten off of the controversial work of art.   Article

Have a Wonderful Weekend! 

Aidan
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