Steve Gelsi has covered Wall Street, private equity and the media business for Reuters, MarketWatch, Forbes, Adweek and other organizations. Gelsi is also author of the 2002 book How America Made a Fortune and Lost Its Shirt, which chronicles the 1990s dot-com boom. Additionally, Gelsi has written about the cannabis business since the 1990s.

A tie-up between the two could mark the first major U.S. firm to establish a line of CBD drinks.
Attitudes are changing, and the number of financial institutions serving the space is increasing, according to experts.
Equipment provider sees growth opportunities for cannabis business in U.S. and Canada.
Hexo is pursuing joint ventures in cosmetics, health care, candy, edibles, and vape companies.
The agency has swooped into the space with an investor alert and fraud case.
New Illinois legislation could signal a potential tidal wave of growth in the budding industry.
Tilray reported a 95% jump in second-quarter revenue to $9.7 million, ahead of the Wall Street estimate of $9 million, in its first earnings release since it went public on July 19.
Family offices, which manage billions of dollars and have much fewer restrictions on how they deploy capital, have been wading into the cannabis space with increasing frequency.
Matt Karnes, the founder of cannabis industry analytics firm GreenWave Advisors, said that based on his estimates of public sales and dispensary data, MedMen is outpacing the statewide average between $200,000 and $250,000 quarterly revenue per store.
The big banks lend support to the fast-growing cannabis market.

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