HIGH TIMES HIRES THIRD CEO IN A YEAR

High Times’ parent company hired its third CEO in a year as it pivots from media and events to retail.
New York Post

• Peter Horvath, who’s taking the helm, was previously CEO at Green Growth Brands, and before that was a C-suite executive at Victoria’s Secret. In April Green Growth said it was in default on a $5M note and is selling off its dispensaries.
• High Times attempts to raise money through a crowdfunded IPO have fallen short of its expectations. Horvath will receive a bonus if he can raise $20M.
• High Times’ previous CEO, Stormy Simon, joined the company in January and said in February she would run for Congress in Utah as a pro-pot Democrat.
• Bottom Line: Is anyone excited to shop at a High Times-branded dispensary?

Quick Hit

1. With the capital markets frozen, companies like California’s Goldenseed are following High Times’ example and looking to mom-and-pop investors.
   MJBiz