Moxie CEO Hopes to Score Coveted N.J. Medical Pot License
*By Carlo Versano*
The competition is on for new medicinal marijuana licenses in New Jersey after Democratic Gov. Phil Murphy prioritized cannabis production when he took office. The CEO of one potential licensee, Moxie, thinks the state has "passed the tipping point" for accepting medical pot at the state level.
Jordan Lams, founder and CEO of the medicinal marijuana producer, told Cheddar as he awaited news on whether his company had been awarded one of the licenses that Moxie has a fully built-out, 16-acre farm and greenhouse operation at the ready ー which would help New Jersey get its operations up to scale quickly.
"The state can count on us to do what we say we will," he said.
Lams praised Gov. Murphy for "taking ownership" of medical marijuana policy after it had languished under previous administrations.
There is now so much pent-up demand from patients Lams said, that the state has concerns over shortages.
The license that Moxie hopes to win is a fully-integrated, "seed-to-sale" license, though Lams said he will also apply for licenses to just grow and process, if this one is not granted.
Lams, who started a career in medical marijuana after his younger sister died of leukemia, now advocates for responsible regulations in the nascent cannabis industry.
He said he's seeing a market that's "developing every day."
"Every day someone who never would have touched this before is really coming into the marketplace. It's global at this point."
For full interview [click here](https://cheddar.com/videos/moxie-vies-for-nj-medicinal-marijuana-license).
Dryden Pence, chief investment officer with Pence Capital, joined Cheddar News to discuss Tuesday's market session and touched on what the Federal Reserve may decide on at its next meeting as inflation continues to play a role and consumer spending remains firm.
Stellantis is telling owners of nearly 220,000 Jeep Cherokee SUVs worldwide to park them outdoors and away from other vehicles because the power liftgates can catch fire even when the engines are off.
After years of explosive growth during the pandemic, Home Depot’s revenue during the first quarter fell short of expectations and the company cut its profit and sales outlook for the year
The head of the artificial intelligence company that makes ChatGPT told Congress on Tuesday that government intervention "will be critical to mitigate the risks of increasingly powerful” AI systems.
Top executives at Silicon Valley Bank and Signature Bank largely avoided taking responsibility for their banks’ dramatic failures at a Senate hearing Tuesday.
The head of the artificial intelligence company that makes ChatGPT will testify before Congress as lawmakers call for new rules to guide the rapid development of AI technology.
