Pot businesses are confined to within their states, can’t get stock listings, and are heavily taxed. The result, in some states: state-approved pot shops in a sea of thriving illegal ones.
Shares of C3.ai fall sharply after subscription revenue misses analysts’ forecasts, Tesla stock extends gains, and U.S. Steel rises after sliding on a report that President Joe Biden is moving closer to blocking its sale to Japan’s Nippon Steel.
Golf company Topgolf Callaway Brands (MODG) announced it intends to split into two separate companies. The companies will be Callaway, which will house the equipment and apparel businesses, and Topgolf, which will be the entertainment business. The company expects Topgolf will be spun off, but the board is still evaluating options. Asking for a Trend anchor Josh Lipton discusses the announcement in the video above. For more expert insight and the latest market action, click here to watch this full episode of Asking for a Trend. This post was written by Stephanie Mikulich.