High Times Magazine, the prominent but struggling pot publication, is looking to shift away from its stoner reputation and focus on covering the broader culture as marijuana shifts to the mainstream, says CEO Stormy Simon, who just took the helm last week.
Simon takes over as the 45-year-old company looks to monetize its business, expand its digital footprint, create an online e-commerce marketplace, and make a mark in retail stores as it pivots toward a “physical and virtual” cannabis distribution business, the company said in an SEC filing.
“Cannabis, by nature, has been a subculture,” she said. “So High Times was a part of that, almost carrying that load alone, as far as spreading the word, and now it is a culture of society. Everyone is curious about cannabis, they’re trying it out.”
High Times’ iconic role in cannabis culture and history hasn’t saved it from problems plaguing the media industry. In December, Hightimes Holdings, the magazine’s parent company, disclosed in an SEC filing it may have to shut down operations due to “recurring operating losses, net operating cash flow deficits, and an accumulated deficit.” In the preceding months, a spate of negative headlines foreshadowed the news. The company lost a 3-month-old chief financial officer amid a challenging initial public offering and laid off a majority of employees at subsidiary Dope Magazine.
Such was the state of the company when Simon, formerly of e-commerce retailer Overstock, took the helm.
On Tuesday, she seemed undeterred: “We’re the oldest startup I’ve ever seen. Any startup has concerns.”
Though she said the company is “always concerned” with potential obstacles as federal legalization remains out of reach, “we’re a part of the industry, a big part of it, with a big brand and so we plan to push that even harder,” she said.
Chipmaker Nvidia is poised to release a quarterly report that could provide a better sense of whether the stock market has been riding an overhyped artificial intelligence bubble or is being propelled by a technological boom that’s still gathering momentum.
Cracker Barrel said late Tuesday it’s returning to its old logo after critics — including President Donald Trump — protested the company’s plan to modernize.
Low-value imports are losing their duty-free status in the U.S. this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods. A widely used customs exemption for international shipments worth $800 or less is set to end starting on Friday. Trump already ended the “de minimis” rule for inexpensive items sent from China and Hong Kong, but having to pay import taxes on small parcels from everywhere else likely will be a big change for some small businesses and online shoppers. Purchases that previously entered the U.S. without needing to clear customs will be subject to the origin country’s tariff rate, which can range from 10% to 50%.
Southwest Airlines will soon require plus-size travelers to pay for an extra seat in advance if they can't fit within the armrests of one seat. This change is part of several updates the airline is making. The new rule starts on Jan. 27, the same day Southwest begins assigning seats. Currently, plus-size passengers can pay for an extra seat in advance and later get a refund, or request a free extra seat at the airport. Under the new policy, refunds are still possible but not guaranteed. Southwest said in a statement it is updating policies to prepare for assigned seating next year.
Cracker Barrel is sticking with its new logo. For now. But the chain is also apologizing to fans who were angered when the change was announced last week.
Elon Musk on Monday targeted Apple and OpenAI in an antitrust lawsuit alleging that the iPhone maker and the ChatGPT maker are teaming up to thwart competition in artificial intelligence.
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