In the days of the Armada, a fleet of warships, the scuttlebutt was the rumor or gossip that would spread throughout the ship. Today, Armada Law Corp presents The Scuttlebutt, a daily summery of news articles that people within the cannabis, hemp and plant medicine industries are chatting about along with links to the full articles.
In today’s news:
#psychedelics – “There are many psychedelic pharmaceutical companies developing drugs that follow the legal regulatory pathway to approval. Several of these drugmakers are publicly traded, and they’re receiving increased attention from investors. We’ve seen a similar phenomenon with marijuana stocks over the past several years. Cannabis was once on the fringe but is now a significant and growing industry.”
#cannabisindustry – “The once high-flying marijuana industry is expected to endure more layoffs and pain in 2023 – and perhaps beyond – after a tough year marked by companies cutting hundreds of employees amid falling wholesale prices and slowing demand.
The layoffs have involved a range of businesses, including large multistate operators such as Curaleaf Holdings and Trulieve Cannabis as well as smaller tech companies.”
#californiacannabis – “A traffic stop on a vehicle with expired tags and out-of-state plates ended up uncovering a large quantity of illegal cannabis as well as other drugs for Lathrop Police.
According to the agency, officers noticed the vehicle on Roth Road over the weekend and initiated a traffic stop. The driver, who was not identified, was found to have warrants for his arrest and was taken into custody. A search of the vehicle turned up several large bags of processed cannabis as well as a quantity of other narcotics – adding to the list of charges that were forwarded on to the San Joaquin County District Attorney for prosecution.”
#cannabis – “London authorities arrested nine United States citizens for allegedly smuggling more than 700 pounds of cannabis out of Los Angeles International Airport.
According to the British National Crime Agency, airport workers seized the drugs spanning from Jan. 10 to Jan. 16 from travelers who had packed the marijuana into their luggage on flights from LAX to Heathrow Airport.”
#cannabisinvesting – “A former fugitive accused of falsely telling investors he was a billionaire, a Harvard MBA and a special forces veteran appears set to plead guilty on Wednesday in connection with an alleged $35 million fraud, a court filing suggests.
Would-be cannabis mogul Justin Costello, 42, is accused in federal court in Washington state of swindling thousands of investors and others with a slew of bogus and extravagant claims about himself.”