Matt Karnes

GreenWave Advisors' recent GreenWave Buzz entitled "Prohibition is Expensive: 'Sit or Get off the Pot'" analyzyes the impact of Section 280E and highlights other costs associated with prohibition. “Many cannabis businesses are struggling, though not all the blame resides...

California just made public its cannabis excise taxes numbers for the first quarter of 2019. Based on the reported figures, total adult use sales rose by 92 percent year-over-year, from $213 million in the first quarter of 2018 to $409.3 million for the first quarter of 2019. “Most...

Colorado released its March cannabis sales data Wednesday, and GreenWave Advisors shared some first-quarter data from the Centennial State with Benzinga.  Implied retail marijuana revenues increased by 6 percent year-over-year to $378 million. As has been evident for the past...

At the end of the first quarter of 2018, we spoke with GreenWave Advisors’ Matt Karnes, who said California cannabis sales could hit $2.5 billion in 2018, mostly in line with estimates out of BDS Analytics and Arcview Market Research. Now that a year has passed since recreational...

Recreational cannabis sales continue to disrupt medical marijuana markets, which are morphing into merged regulatory regimes — just as GreenWave Advisors founder and managing partner Matt Karnes predicted almost two years ago. The most recent sales figures from Colorado, California and...

The first recreational cannabis sales were made in  Massachusetts this week, although only two stores — New England Treatment Access, or NETA, in Northampton and Cultivate Holdings in Leicester — were allowed to service customers. “Tuesday was another...

Canadian cannabis producer Tilray commenced trading on the Nasdaq this week, becoming the first pure-play marijuana company to list on a major U.S. stock exchange. “This week's listing of Tilray on NASDAQ is another positive move for cannabis stocks and particularly for the U.S....

Medical marijuana sales continue to slide in Colorado. For the first half of 2018, revenue fell 21 percent year-over-year to $165.8 million. Recreational sales rose 14 percent to $573 million. Total combined sales rose by 4 percent to reach $739 million, versus $710 million in the first half...

This was a very active week in the cannabis capital markets, with Cronos Group reporting earnings, Canopy Growth applying to trade on the NYSE, Aurora Cannabis acquiring MedReleaf in the largest cannabis deal in history and GTI announcing intentions to go public in Canada. The news drove the United...

The legal cannabis industry is growing at an unprecedented pace. While estimates vary, U.S. sales in 2017 stood somewhere between $8.2 billion and $8.8 billion according to BDS Analytics. This figure is expected to surge to roughly $35 billion by 2022, GreenWave Advisors managing partner Matt...

Shares of GW Pharmaceuticals PLC- ADR (NASDAQ: GWPH) were halted Thursday, ahead of a Food and Drug Administration vote on the company's cannabis-derived drug Epidiolex. Trading resumed after the FDA advisory panel voted unanimously in favor of approving the medicine for the treatment of two...

Two words summarize last week’s most relevant event for the cannabis industry: John Boehner. The former House speaker announced his views on cannabis had evolved and, in support of legalization, he was joining the board of directors of New York-based marijuana company Acreage Holdings. To...

The Great Lakes State has the second-largest medical marijuana patient base in the country, trailing only gigantic California. A shift in Michigan's medical marijuana market is no small event. Major legal weed markets have opened up on the West Coast — California, Washington, Oregon,...

As cannabis continues to go mainstream, and an ever-increasing number of companies make it to major stock exchanges, market participants feel a growing need for sophisticated financial instruments to track the industry’s overall performance. Among these instruments are indices and ETFs. U.S....

The state of Colorado has released its 2017 legal cannabis tax data, reporting collections of $247.36 million, up from $193.6 million in 2016. Based on these figures, financial analysis and research firm GreenWave Advisors estimated sales hit $1.494 billion, exceeding its $1.458-billion...