Business

Jim Patterson, Eaze’s CEO until 2019, is under legal woes for “deceiving banks into processing $100 million worth of credit and debit payments for marijuana products,” according to MJBizDaily.
He will plead guilty tomorrow, thereby waiving an indictment.
The two men who were in charge of the online marketplace for Eaze were both indicted in March of 2020 for the scheme.
“The indictment alleged that the two, operating the Online Marijuana Marketplace, created fictitious online merchants that sold dog products, dive gear, carbonated drinks, green tea and face creams to route the marijuana transactions and get around cannabis banking restrictions,” again from MJBizDaily.
In the meantime, Eaze as a company is looking to put this all behind them and distance themselves from the controversy. A spokeswoman for the company wrote in an email to MJBizDaily, “as reported, we are cooperating with relevant authorities, Jim is no longer with the company and Eaze is not a defendant in this matter.”
Read the full story over at MJ Business Daily.

With a new administration seemingly open to marijuana legalization and more and more states taking action themselves, stocks for cannabis companies within and outside the country feel like solid bets.
Therefore cue the WSB army, who just last month ransacked the stock price of Gamestop, AMC, Nokia, and others, leaving very little behind.
In particular, Sundial (SNDL), Tilray (TLRY), and aphria (APHA) have come under intense Reddit scrutiny. Just yesterday, Tilray, a Canadian cannabis company, had its stock rise 36%. However, with the attention of WallStreetBets also comes volatility, and today the stock is plunging back down, now under 41% of where it opened.
And attention already seems to be waning, with many on the subreddit eyeing Bumble as their next victim. Hopefully, this will leave the cannabis sector to itself and back to normalizing, where it’s incremental yet steady climb will continue throughout the year.