Cheddar's CannaBiz explores the business of marijuana. Cheddar Anchors Tim Stenovec and Hope King explore the state of regulation, market opportunity, and businesses capitalizing on this trend.
New York Governor Andrew Cuomo recently proposed government funding for a study to explore the impact of legalizing recreational marijuana in the state. State Senator Gustavo Rivera (D-NY) and High NY Founder and CEO Michael Zaystev discuss the state of regulation in New York.
"I am thankful that the governor put it in the budget. I am hoping it gets to the final version of the budget, and I am hoping we can actually make this happen in the state of New York sooner than later," said Rivera.
"I think he's also feeling some pressure from New Jersey's recent election," said Zaystev. Earlier this month newly elected New Jersey Governor expanded access to medicinal marijuana in the state through an executive order.
CB1 Capital Management predicts Cannabis could disrupt the healthcare industry in a big way. The firm's Founding Partner and Chief Investment Officer Todd Harrison explains why he thinks medical marijuana will migrate from state dispensaries, to become medicine prescribed by doctors through insurance in the next decade.
Harrison says the only way the U.S. government would get their hands on the money in this market opportunity is through the FDA. "That's where we think it goes, follow the money," says Harrison.
Beboe launched early last year and is described as the “Hermes of marijuana." Co-founder Clement Kwan sits down with Alyssa Julya Smith in Los Angeles to talk about how the brand is changing the stereotypes associated with cannabis.
Kwan discusses the importance of packaging when making a luxury brand like Beboe. He says the marketing of the products opens up a whole new demographic to cannabis products. The co-founder also discusses the new demand in sales since cannabis has been legalized in California and what the brand is doing to keep up with those demands.
Cheddar's CannaBiz series airs every Tuesday from 3:30 to 4:00 p.m. on Closing Bell.
Nestlé has dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The company announced on Monday that the dismissal was effective immediately. An investigation found that Freixe violated Nestlé’s code of conduct. He had been CEO for a year. Philipp Navratil, a longtime Nestlé executive, will replace him. Chairman Paul Bulcke stated that the decision was necessary to uphold the company’s values and governance. Navratil began his career with Nestlé in 2001 and has held various roles, including CEO of Nestlé's Nespresso division since 2024.
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
