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).
Stocks rose Thursday, but only after another dizzying day for Wall Street where a big show of strength from the morning vanished and worries rose about the banking industry.
The labor market continues to defy the Federal Reserve’s attempts at loosening it, with U.S. applications for unemployment benefits down again last week and remaining at historically low levels.
General Motors (GM) announced that it will stop production on the current sixth generation of the iconic Chevrolet Camaro. Production at the Lansing Grand River Assembly Plant in Michigan is expected to end in January 2024.
Web browser Mozilla is investing $30 million into launching a startup, called Mozilla.ai, focused on building a "trustworthy, independent, and open-source AI ecosystem."
The Federal Aviation Administration (FAA) is launching a new plan to avoid flight delays in New York City and Washington, D.C. this summer. The plan will lower requirements for airlines to obtain take off and landing rights to help avoid congestion.
Lawmakers grilled TikTok CEO Shou Zi Chew on Thursday in a high-stakes hearing on the future of the popular, Chinese-owned video sharing platform in the U.S.
Actress Lindsay Lohan appears at the Christian Siriano Fall/Winter 2023 fashion show in New York, Feb. 9, 2023. The Securities and Exchange Commission said Wednesday, March 22, that Lohan, rapper Akon and several other celebrities have agreed to pay tens of thousands of dollars to settle claims that they promoted crypto investments to their millions of social media followers without disclosing they were being paid to do so.
Cheddar News breaks down what to look for on The Day Ahead, as TikTok CEO is scheduled to testify before Congress on Thursday while earnings from General Mills and Darden Restaurants are on tap. Residential sales data for February is also scheduled to be released.