California Company Led By Ex-Police Officer-Turned- Cannabis CEO Could Pivot Into Hemp Space
Glass House Brands Inc. (OTCQX: GLASF) (OTC: GHBWF) would likely diversify its business by pivoting into the hemp sector, reported Green Market's John Schroyer, citing the company's leadership. During the second quarter earnings call held on the heels of the company's earnings report being made public last week revealing a record-setting second quarter for 2024, with revenue reaching $53.9 million, up by 21% year-over-year, Kyle Kazan, Glass House's co-founder, chairman and CEO, shed more light on the company's plans. "We are actively having meetings with large distributors of hemp-derived cannabis, and we are considering DTC, or direct-to-consumer products, shipped from our farm in Southern California directly to people in the states which legally allow it," Kazan said. He recently urged top officials to de-schedule marijuana on the federal level, added a final decision is yet to be made.
