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Simon’s everywhere. There has to be a reason. They need to get investors for US expansion purchase? IMO
@tilray: Join us tomorrow at 4:00 PM ET for the Stifel Cross Sector Insight Conference fireside chat with $TLRY CEO, Irwin D. Simon, and CFO, Carl Merton. Click here for the free webcast: bit.ly/3g8QCHi.
Re: Las3r market caps TLRY is near 9B?
“AMC money moving to TLRY with over 22% short interest and legalization supported by Amazon.” -r/Aphria
$TLRY “Here is how the chart pattern unfolded within 8 days after breaking $20 broken down by daily price action on chart just to give you a reference. We're trading around day 1 levels now, not saying it will happen but def worth paying attn to. “-@joealertz
SEE CHART:
https://twitter.com/joealertz/status/1400209525328777216?s=21
https://investorplace.com/2021/06/meme-stocks-10-reddit-wsb-stocks-seeing-the-most-chatter-today/amp/
Reddit WSB Meme Stocks
BlackBerry (NYSE:BB) stock starts off the list with 4,261 mentions on the subreddit over the last 24 hours. The stock is up more than 12% with 65 million shares moving as of this writing.
AMC Entertainment (NYSE:AMC) shares are up next with 4,235 mentions in the last 24 hours. The stock is up more than 24% with 174 million shares moving as of this writing.
GameStop (NYSE:GME) stock continues to be a favorite with 1,484 mentions over a 24-hour period. The stock is up slightly with 2 million shares moving as of this writing.
Microvision (NASDAQ:MVIS) shares are where we see mentions trail off as it reaches 218 in the most recent 24 hours. The stock is up a little with 9 million shares moving as of this writing.
Sundial Growers (NASDAQ:SNDL) stock is right behind it with 212 mentions in the last 24 hours. The stock is up more than 3% with 78 million shares moving as of this writing.
SPDR S&P 500 ETF Trust (NYSEARCA:SPY) shares have 191 mentions over a 24-hour period. The stock is up slightly with 7 million shares moving as of this writing.
Palantir Technologies (NYSE:PLTR) stock has 185 mentions over 24 hours on the WSB subreddit. The stock is down slightly with 10 million shares moving as of this writing.
****Tilray (NASDAQ:TLRY) shares join the list with 175 mentions in the last 24 hours. The stock is up more than 3% with 7 million shares moving as of this writing.
Nokia (NYSE:NOK) is among Reddit’s favorite meme stocks but it only has 164 mentions in the last 24 hours. The stock is up more than 3% with 26 million shares moving as of this writing.
Nio (NYSE:NIO) closes out the meme stocks list with 140 mentions in the most recent 24 hours. The stock is down slightly with 24 million shares moving as of this writing.
Reddit WSB Meme Stock mentions June 2
BlackBerry (NYSE:BB) stock starts off the list with 4,261 mentions on the subreddit over the last 24 hours. The stock is up more than 12% with 65 million shares moving as of this writing.
AMC Entertainment (NYSE:AMC) shares are up next with 4,235 mentions in the last 24 hours. The stock is up more than 24% with 174 million shares moving as of this writing.
GameStop (NYSE:GME) stock continues to be a favorite with 1,484 mentions over a 24-hour period. The stock is up slightly with 2 million shares moving as of this writing.
Microvision (NASDAQ:MVIS) shares are where we see mentions trail off as it reaches 218 in the most recent 24 hours. The stock is up a little with 9 million shares moving as of this writing.
Sundial Growers (NASDAQ:SNDL) stock is right behind it with 212 mentions in the last 24 hours. The stock is up more than 3% with 78 million shares moving as of this writing.
SPDR S&P 500 ETF Trust (NYSEARCA:SPY) shares have 191 mentions over a 24-hour period. The stock is up slightly with 7 million shares moving as of this writing.
Palantir Technologies (NYSE:PLTR) stock has 185 mentions over 24 hours on the WSB subreddit. The stock is down slightly with 10 million shares moving as of this writing.
*****Tilray (NASDAQ:TLRY) shares join the list with 175 mentions in the last 24 hours. The stock is up more than 3% with 7 million shares moving as of this writing.
Nokia (NYSE:NOK) is among Reddit’s favorite meme stocks but it only has 164 mentions in the last 24 hours. The stock is up more than 3% with 26 million shares moving as of this writing.
Nio (NYSE:NIO) closes out the meme stocks list with 140 mentions in the most recent 24 hours. The stock is down slightly with 24 million shares moving as of this writing.
https://investorplace.com/2021/06/meme-stocks-10-reddit-wsb-stocks-seeing-the-most-chatter-today/amp/
TLRY after hours volume 1.7 million. Canopy 48 thousand.
Yep this and TLRY gosing!
“Tim Seymour ETF is now able to buy positions in MSOs but he still prefers to give heavier weighting to $CGC $TLRY compared to $TRUL $GTII $CURA $CL. Does this mean he's seeing more upside on the Nasdaq-listed cannabis companies? ??
$CNBS $MSOS #MSOgang” -weedstreet420
Amazon backs federal bill to legalize marijuana
https://www.cnbc.com/2021/06/01/amazon-backs-federal-bill-to-legalize-marijuana-.html?__source=androidappshare
JUST NOW: House Judiciary Committee Chairman Jerrold Nadler has re-filed his bill to federally legalize marijuana—including some changes from the version that passed last year.
Sen. Chuck Schumer’s separate cannabis bill is still expected “soon."
marijuanamoment.net/bill-to-federa…
JUST NOW: House Judiciary Committee Chairman Jerrold Nadler has re-filed his bill to federally legalize marijuana—including some changes from the version that passed last year.
— Tom Angell 🌳📰ⓥ (@tomangell) May 28, 2021
Sen. Chuck Schumer’s separate cannabis bill is still expected “soon."https://t.co/NQIFX6rNKH pic.twitter.com/TmPce7HZDU
@senschumer “In state after state, in ballot initiatives and constitutional amendments, Americans are sending a clear message—they want an end to marijuana prohibition
I’m working with @SenBooker & @RonWyden on comprehensive marijuana reform legislation in the Senate”
The Swiss National Bank initiated a position in Chinese electric-vehicle firm Li Auto (ticker: LI), and raised its holdings in XPeng (XPEV), another Chinese EV company. The bank also bought more shares of videoconferencing firm Zoom Video Communications (ZM), and increased its stake in *****Tilray (TLRY), a marijuana grower. The Swiss National Bank disclosed the trades, among others, in a form it filed with the Securities and Exchange Commission.
The bank said it doesn’t comment on individual investments. The Swiss National Bank managed about $150 billion in U.S.-traded equities as of March 31.
The bank bought 427,954 American depositary receipts of Li Auto in the first quarter. It hadn’t owned any of the ADRs at the end of 2020.
Li Auto ADRs fell 13.3% in the first quarter, compared with a 5.8% gain in the S&P 500 index. So far in the second quarter, through Friday’s close, Li Auto ADRs have tumbled 26.6%, while the index has gained 5.1%.
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The central bank also bought 74,000 more ADRs of XPeng to end the first quarter with 433,175. The shares have followed the same downward trend as Li Auto ADRs, falling 14.8% in the first quarter, and then 29.6% afterward.
Li Auto and XPeng ADRs have been pummeled by worries about increasing competition, one analyst thinks. A chip shortage is also hurting the sector. Nonetheless, Li Auto reported strong April deliveries, and XPeng’s first-quarter report was better than expected.
Zoom Video stock slipped 4.8% in the first quarter, and is down 4.2% since.
Zoom Video CEO Eric Yuan said he has experienced videoconferencing fatigue himself. One observer thinks the company could make acquisitions. Zoom Video has stepped up compliance measures through the Covid-19 pandemic.
https://www.barrons.com/articles/swiss-bank-bought-chinese-ev-stocks-li-auto-xpeng-marijuana-stock-tilray-51621004457?siteid=yhoof2&yptr=yahoo
Merger matters
May 5, 2021
By Mari-Len De Guzman
Q&A with Denise Faltischek, head of international and chief strategy officer, Tilray
Photo: Aphria Inc.
One of the biggest news in the Canadian cannabis industry last year came at the last minute, when Leamington, Ont.-based Aphria Inc. and Nanaimo, B.C.-headquartered Tilray announced a merger in mid-December. This strategic union, according to the companies, will create the world’s largest cannabis company based on revenue.
The two companies have since closed this deal and finalized the transactions. Grow Opportunity caught up with Denise Faltischek, former chief strategy officer at Aphria and now Tilray’s head of international and chief strategy officer, to talk about what the merger means for the company’s future and its strategies for global expansion.
Grow Opportunity: Can you talk about the significance of the Aphria-Tilray merger, particularly in both companies’ Cannabis 2.0 strategy in the infused beverage space?
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Denise Faltischek: As we’ve disclosed and reported, the combination of Aphria-Tilray will create the world’s largest cannabis company based upon pro forma revenue. Really exciting combination and between the two. The thing that’s really compelling about the the combination of the two and why it made strategic sense to us was the fact that if you compare the two companies together, they complement each other in so many different ways.
In terms of our strength in Canadian cultivation and production, Tilray’s combination in terms of its European production in Portugal with EU GMP facilities. And the fact that it really created in Europe an end-to-end EU GMP supply chain. Both companies have strong brands on adult use in Canada. And so if you look at this strategic footprint between the two and the scale, and you throw in the diverse product range and this great portfolio of brands with this huge EMP supply chain, it really creates a very nice, fully capable comprehensive company that can compete, plus, very financially strong.
The other thing you mentioned on the Cannabis 2.0 that was one of the areas where Tilray really complemented Aphria in the sense that Tilray had its own capabilities for both gummy and chocolate. And then you mentioned beverages as well, so beverage production in Canada.
You marry up that beverage production with our beverage production capabilities in the U.S. under the Sweetwater transaction, and you have a very good and strong portfolio under the beverage space. And so we think the combination not only provides a very well-complemented company today but also really sets it up for the future.
GO: With the recent change in the political dynamic in the U.S. with the Biden election, what’s your prognosis on the U.S. market and what is the company strategy in terms of beefing up your U.S. play?
DF: The U.S. absolutely is loosening up, I would say, the regulations as they pertain to cannabis. So there’s a very strong likelihood that the Safe Banking Act is going to pass in short order, which will open up both banking institutions as well as loosen up capital markets for cannabis companies, which is obviously a very good development for the cannabis industry, in general.
As it relates to Aphria and the Tilray combination, we have the Sweetwater transaction. Tilray has Manitoba Harvest, which is a really great company with hemp-based foods, really great branding, very well positioned in the marketplace for the consumer looking to live a healthier lifestyle. So between the two, it provides us with a distribution network, customer relationships. And with our demonstrated Canadian expertise, it provides us with the ability – once the United States market opens up to federal permissibility – it provides us with a platform to start to basically operate.
One of the plans that we’ve discussed publicly through Sweetwater is the building of our existing brands in Canada, in various permissible alcoholic beverage type products in the U.S. in order to build brand awareness. So we’ll be able to, upon federal permissibility, begin to operate in the U.S. with basically a demonstrated brand awareness.
GO: What experiences and insights have you gained from your years in the CPG industry that you’re applying to your role as chief strategy officer at Aphria, and why?
DF: In terms of CPG there’s a couple things that I’ve learned. One is the power of brands, the power of marketing. And I think that we’ve done a very good job of developing a carefully curated portfolio of brands that really resonate with the consumer because when we’ve developed them, we developed them based on data and market insight, consumer insights, where we have a very good understanding of what the consumer and the patient is looking for and really fine tune our our branding or marketing and our product innovation in order to address this.
I also think, though, a huge point of differentiation –and I’ve learned this through CPG and my passion for purpose-driven entities – in today’s market I really believe that consumers don’t just buy the product that you’re selling on the shelf, but they buy what you stand for. Consumers want to know that the brands and the products, that the value systems that those brands embody, are very closely aligned with their own and the consumer wants to really emotionally connect to that brand.
And so one of the things that we’ve learned in CPG – and we did this very well at Hain – was our consumers really shared our value system, Our ESG value system, both on the environment and the impacts that our business had on the environment. How we treated from a social perspective, the communities that we called home – what was the impact we had in those communities, how do we give back, how did we foster and mentor employees, you know, diversity and inclusion – all of these various ESG type concepts that that people are talking about today. These are things that we have been doing for years.
And so, I believe it’s a big point of differentiation and it will differentiate us from the other cannabis companies because of the fact that we are, I say like ‘true believers,’ we are authentically true. And, you know, believe that it’s not just about something that you put on the side, but something that you really embed in the culture and the DNA of the company.
And if you see the passion that our employees have for what we do and the things that we do for our patients and our consumers in terms of helping them live the very best life that they can, I think that’s what sets us apart from everyone else. So I’m really excited.
GO: As you expand your product offerings and your market share, what is your strategy for expanding your market and reaching out to those who are not traditional cannabis consumers?
DF: We believe that it is our responsibility, and one of our commitments that we’ve made, to ensure responsible adults use. I’m going to parse out medical and adult use for a second, but education as it relates to responsible adult use. We believe that education is a very, very big, important piece of this, and so it’s something that we’ve been dedicated to, making sure that people understand the products and the use of the products.
And on the medical side, we also believe education is a very big key point, not just for patients but also for doctors. And so we’ve done a bunch of investments in terms of various seminars and conventions and thought pieces in order to speak to doctors as well as patients so that both can learn the benefits of cannabis usage for various conditions. So really believing that education and communication is a really big piece of this. What I would love to see is this stigma around cannabis to completely go away as people realize that there are real uses for cannabis for medical disorders and conditions that have not been helped by medical products.
We did a study in Argentina with the Garrahan Hospital for pediatric refractory epilepsy. I think it was just recently published where the use of our products demonstrated notable reductions in the amount of seizures that the children had, and these were children who were not able to be helped by traditional medicines. We also provided medicine for a young girl in the U.K. who had huge numbers of seizures per week and it was life-threatening to her. And we’ve been providing her with medical cannabis now for a couple years and and it’s so thrilling every time you see pictures from her family of her just thriving.
So when you see uses like that, you realize that there are real applications for this product that really benefit people and help them live their lives in a much better way and help them on their health journey. And so I believe that it’s education and research and stories like this that will help.
GO: The cannabis industry has gone through significant growing pains over the last two years. What have been the lessons learned from the experiences of the last two years?
DF: Aphria, in terms of many of the senior management, we are fairly new to the company. We all came in within like the last two years. And I think one of the things that Aphria did was really focus on fundamentals in business in terms of looking at revenue growth and driving profitability. And really being laser focused on cost, and watching cost and really where we invested.
When I first joined Aphria, one of the first things that I was tasked with was evaluating investments that have been made that perhaps weren’t going to yield the highest ROI and also were very capital intensive… basically extrapolate ourselves from those types of investments, and how did we really leverage the existing investments we’ve made to maximize revenue and profitability. And so at Aphria, we’ve been very focused on what is our cost structure, what is the right size organization to support the business, and really being very focused on where we invest our money.
GO: As you streamline your strategies to optimize efficiencies and profits, what are the current strategic investment priorities for Aphria right now?
DF: First and foremost, we are currently focused on closing and integrating the Tilray transaction. In connection with that transaction we’ve mentioned publicly that we are expecting to achieve about $100 million of cost cutting initiatives, which will really improve the profitability of the combined company. We are also focused on looking at those geographies and businesses where they will yield the highest ROI so Germany being a very large market, the U.S. being a large market.
We also are focused on, from an international perspective, looking at where we can develop partnerships, so maybe not investing in terms of capital, but where can we form strategic partnerships and alliances to help us maximize our international presence without a major investment.
GO: So in addition to your role as chief strategy officer, you were also appointed managing director for Germany. How do you juggle those two roles and are they overlapping functions?
DF: In some ways they are. Actually when I joined in September of 2019, at the time I was appointed chief strategy officer, but I also oversee the medical business in Canada as well as the international businesses. So both around the world outside of Canada, focusing on Europe as well as LatAm.
So Germany was already within my purview. We basically shipped our first EU GMP dried flower shipment late fall of 2020 and so as we are ramping up our cannabis sales in Germany, I was taking more of a day-to-day operational approach while we were doing the ramp up.
And to your point about strategy having some overlap, as we go into these new markets, a lot of it is the strategy development up front and the development of the commercial plan from that strategy.
We built a facility in Germany so there was a tender. The German government instituted a tender for in-country cultivation. We were one of three companies that won that tender and so in connection with that tender we had the ability to build a cultivation and processing facility in Germany, which is completed from a construction point of view.
We are awaiting our EU GMP certification and the product that is grown and cultivated at this facility, in first order, will be used to satisfy an agreement that we have with the German government to sell them medical cannabis. So we’re very excited about that opportunity. As I mentioned, that is an opportunity that we’re hoping will be up and running anytime soon, as soon as we receive our EU GMP certification. Things are a bit challenged with COVID, as you can imagine, but we are expecting that very soon.
GO: Where do you think the opportunities are for Canadian cannabis companies, such as Aphria, to take advantage of the emerging global market for cannabis and what do you see are the barriers?
DF: So the opportunities that I see for Aphria is very interesting in the fact that the amount of brand recognition that exists globally. In Canada we have demonstrated at Aphria that we have strength in cultivation and production. We have some of the highest quality cannabis product in terms of our grow and coming out of our facility.
We’ve also demonstrated the ability to develop brands that are recognized around the world, and it’s interesting because the successes that we’ve shown in Canada as as one of the leading LPs has really resonated around the world. So as we enter other countries – unlike other industries where you would be doing a grassroots, ground-up approach – there is in fact already a brand recognition that does provide an easier entry into the country, in the sense that, one, we have partners from other countries that reach out directly, and then we’ve also done our own reach into countries and have been met with lots of enthusiasm.
I think some of the challenges is that the regulatory framework in every country is so different, and so you really need to make sure you understand the framework. What are the requirements in terms of testing, packaging? And so that creates a bit of a challenge because you just need to really understand that very well because to be successful, you obviously need to understand all the various regulations so that you don’t have any sort of missteps when you enter the country. So I would say that’s been the biggest challenge is making sure that we understand that.
https://www.growopportunity.ca/merger-matters/
Tilray double upgrade at Jefferies: prospects in Europe highlighted https://seekingalpha.com/news/3693406
We got a double upgrade today!
After Aphria deal, the new Tilray eyes transformation into a global cannabis brands giant
Company, which will have market value in excess of US$8 billion, is eyeing selling cannabis in everything from drinks to skin creams to snack bars
Author of the article:
Bloomberg News
Bloomberg News
Tiffany Kary
Publishing date:May 03, 2021 • Last Updated 15 hours ago • 4 minute read
Irwin Simon, the former head of Aphria, is now chairman and chief executive officer of combined company Tilray Inc.
Irwin Simon, the former head of Aphria, is now chairman and chief executive officer of combined company Tilray Inc. PHOTO BY DAX MELMER FOR NATIONAL POST FILES
Tilray Inc. shareholders approved the merger with Aphria Inc., creating a cannabis powerhouse that’s both the largest medical marijuana company in Europe and a major player in Canada’s recreational market.
The company’s ambitions don’t end there, though.
Irwin Simon, the former head of Aphria who is now chairman and chief executive officer of the combined company, has ambitions to transform it from an edgy Canadian marijuana company into a global consumer products giant, potentially selling cannabis in everything from drinks to skin creams to snack bars.
The company, which completed the deal on Monday, will have a market value in excess of US$8 billion, making it a giant in the fast-growing cannabis industry. While Aphria shareholders acquired 62 per cent of Tilray shares under the original terms, the company is keeping the Tilray name and will trade under the ticker TLRY.
Simon, the founder and former CEO of tea and packaged-food company Hain Celestial, has the background to lead Tilray’s charge deeper into the consumer world. Bloomberg spoke with him about his plans to compete in the growing arena of big consumer-oriented cannabis brands.
STORY CONTINUES BELOW
You already have diverse assets — a marijuana cultivation facility in Portugal, the Sweetwater Brewing beer brand in Atlanta, the Manitoba Harvest hemp food company in Canada and CC Pharma, the pharmaceutical distributor based in Germany. What comes next?
It’s a three-part strategy. In Canada, where we already have a 17 per cent to 18 per cent market share, my objective is to get to a 30 per cent share of the overall adult use market, and that’s going to be by selling adult use, medical products and cannabis 2.0 products, which are drinks and edibles. That will involve coming out with new products and expanding our brands. Secondly, in Europe, which is known for medical cannabis today, we already have a distribution system in place today to sell more medical cannabis at 13,000 active pharmacies, sourcing it from our Portuguese facility and selling it throughout Europe.
What about the U.S.? I imagine that’s the third part of that strategy.
We will have consumer products standing ready for recreational use in the U.S. once legalization occurs. We’ll look to do an acquisition in consumer packaged goods world that will help us parlay into recreational cannabis. We may also do something in the medical world in the U.S., for example, a topical cream.
Like Bengay, but with CBD?
You got it. Products like that, or other topicals or skin care. We think there are some big areas with CBD and CPG, like drinks. Also today, Manitoba Harvest is in food, with granola-type products and snack bars. Today we already do hemp oils. And plant-based milks that are a derivative of hemp. And I do like the tea business.
STORY CONTINUES BELOW
That makes sense, given your history in that market. What about something a bit stronger than tea?
The only thing I wouldn’t mix cannabis with is alcohol or tobacco. There are already hemp chips and CBD bars out there. The sky’s the limit — but what’s the purpose, how does the product taste, and what does it do for you?
Do you still need to see regulatory changes from the FDA to go into this consumer-goods space, which involves so many things like food and topicals that that agency oversees?
Yes. I’m going to get out there and lobby for change. With federal legalization over the next three to four years, US$150 billion in tax revenue could be contributed to the U.S. economy. Instead of raising our taxes, we should be looking at legalization. I think cannabis should be regulated similarly to alcohol on the recreational side, and with regards to the medical side, it should be a pharmaceutical product, with prescriptions from your doctor.
How fast is the regulatory pace in Europe moving in comparison? Several countries have started pilot programs for recreational cannabis recently.
I think there are markets that will legalize adult recreational use before the U.S. does — Germany, and I think Portugal and the Netherlands. We’re already expanding our medical cannabis into Spain, the U.K., France and are planning expansions into Israel and Poland. The combined company has already distributed cannabis to 20 countries worldwide and is positioned for further expansion across Europe.
STORY CONTINUES BELOW
MORE ON THIS TOPIC
Cannabis plants in an Aphria Inc. greenhouse in Leamington, Ont.
Aphria’s bleak start to earnings triggers slump in pot stocks
Cuttings from marijuana plants are pictured at the Canopy Growth Corporation facility in Smiths Falls, Ontario.
Canopy sets sights on U.S. and German markets after snapping up Supreme Cannabis for $435 million
An Aphria growing facility in Leamington, Ont.
Aphria, Tilray merging to create world’s biggest cannabis company
Cannabis stocks surge to new highs as Reddit crowd turns attention to pot
Other consumer goods companies seem to have similar ambitions. Marlboro-maker Altria Group Inc., British American Tobacco, Molson Coors and Anheuser-Busch have all taken interests in cannabis companies. How do you see yourself competing against them?
There are actually big opportunities for partnerships. I think companies like that will want to partner with someone like us, with great quality assurance, and great understanding of branding and products. Tilray would be doing the growing, and using our expertise around different strains and different types of products. I don’t want to be just a grower. I want to be a builder of brands.
Editor’s note: This interview has been edited and condensed.
https://financialpost.com/investing/after-aphria-deal-the-new-tilray-eyes-global-cannabis-brands
Thank you
B of A is hugely influential IMO Tilray, Canopy are buys due to potential U.S. legalization, CBD beverages - BoA
Apr. 28, 2021 11:41 AMTilray, Inc. (TLRY)CGC, ACB, CRONBy: Jonathan M Block, SA News Editor
Tilray (NASDAQ:TLRY) and Canopy Growth (NASDAQ:CGC) are both buys, according to Bank of America, because of their ability to enter the U.S. market should federal marijuana legalization occur and CBD beverage distribution.
BoA analyst Heather Balsky has reinstated coverage of Tilray and Canopy with price targets of, respectively, $23 and C$45.
She rates Aurora Cannabis (NYSE:ACB) as neutral and Cronos Group (NASDAQ:CRON) as underperform.
Thanks to the recent shareholder approved merger with Aphria (NASDAQ:APHA), Balsky expects "multiple expansion" thanks to the resultant gains in scale, efficiencies, and combined liquidity.
She is modeling $30M-$35M of quarterly EBITDA by 2H 2022.
Tilray is also helped by its November 2020 acquisition of SweetWater Brewing, giving it footing in the CBD beverage market and potentially THC-infused products.
Balsky believes that Tilray could become the largest cannabis company in terms of sales in the U.S. and Canada.
Should federal cannabis legalization occur, Canopy should be a major player given its financial position, management, and partnerships, Balsky notes.
Canopy is also involved with CBD-infused beverages, having just selected Southern Glazer's Wine and Spirits as its U.S. distribution partner for the products.
Tilray shares are up 2% to $18.07 and Canopy shares are up 2% to $27.44 in morning trading.
https://seekingalpha.com/amp/news/3686933-tilray-canopy-are-buys-due-to-potential-us-legalization-cbd-beverages-boa
Tilray, Canopy are buys due to potential U.S. legalization, CBD beverages - BoA
Apr. 28, 2021 11:41 AMTilray, Inc. (TLRY)CGC, ACB, CRONBy: Jonathan M Block, SA News Editor
Tilray (NASDAQ:TLRY) and Canopy Growth (NASDAQ:CGC) are both buys, according to Bank of America, because of their ability to enter the U.S. market should federal marijuana legalization occur and CBD beverage distribution.
BoA analyst Heather Balsky has reinstated coverage of Tilray and Canopy with price targets of, respectively, $23 and C$45.
She rates Aurora Cannabis (NYSE:ACB) as neutral and Cronos Group (NASDAQ:CRON) as underperform.
Thanks to the recent shareholder approved merger with Aphria (NASDAQ:APHA), Balsky expects "multiple expansion" thanks to the resultant gains in scale, efficiencies, and combined liquidity.
She is modeling $30M-$35M of quarterly EBITDA by 2H 2022.
Tilray is also helped by its November 2020 acquisition of SweetWater Brewing, giving it footing in the CBD beverage market and potentially THC-infused products.
Balsky believes that Tilray could become the largest cannabis company in terms of sales in the U.S. and Canada.
Should federal cannabis legalization occur, Canopy should be a major player given its financial position, management, and partnerships, Balsky notes.
Canopy is also involved with CBD-infused beverages, having just selected Southern Glazer's Wine and Spirits as its U.S. distribution partner for the products.
Tilray shares are up 2% to $18.07 and Canopy shares are up 2% to $27.44 in morning trading.
https://seekingalpha.com/amp/news/3686933-tilray-canopy-are-buys-due-to-potential-us-legalization-cbd-beverages-boa
Bank of America reinstated TLRY as a buy
Bank of America reinstated TLRY as a buy
Europe sales kicks ass and the Merger is smooth then PPS movement between now and 42022
Re: FUNMAN Unless Europe kicks ass and the Merger is smooth
The House of Representatives approved a marijuana banking bill. The SAFE Banking Act cleared the chamber three times last Congress but got blocked in the Republican-controlled Senate. Hopes are high now that Democrats run both chambers of Congress, however.
Twenty-one governors, 51 state and territory banking associations and a group of state treasurers sent letters calling on Congress to pass the marijuana banking bill.
A new Pew Research Center poll found that 91% of Americans now support legalizing marijuana for recreational or medical use.
In a new Federal Register filing, the U.S. Postal Service is instructing hemp and CBD companies about how they can potentially apply for exemptions to a new federal law that generally bans the mailing of vaping devices.
North Carolina’s Senate president pro tempore noted strong public support for medical cannabis after the body’s Rules Committee chairman filed a bill on the issue.
/ FEDERAL
The Biden administration is reportedly considering requiring tobacco companies to lower nicotine levels in cigarettes.
A federal judge denied a company’s request for an injunction to prevent Customs and Border Protection from blocking its shipments of hemp processing machines.
The U.S. Department of Agriculture tweeted about the availability of revenue protection insurance for hemp.
Sen. Ron Wyden (D-OR) and Reps. Earl Blumenauer and Barbara Lee (D-CA) spoke about why they believe Vice President Kamala Harris will advocate behind the scenes for President Joe Biden to evolve on marijuana.
Sen. Mike Rounds (R-SD) said he has a lot of concerns about marijuana legalization.
Rep. Earl Blumenauer (D-OR) tweeted a tribute to marijuana legalization pioneer Steve Fox, who passed away last week.
Rep. Mark Pocan (D-WI) tweeted about a new poll showing support for cannabis legalization, saying, “Your 4/19 reminder that marijuana should be legalized nationwide.”
Rep. Ted Lieu (D-CA) tweeted, “Everything in politics seems impossible, until it happens. Time to remove cannabis from the schedule of controlled substances. Spending even one dime of taxpayer funds on federal marijuana investigations and prosecutions is dumb.”
Rep. Elaine Luria (D-VA) toured a CBD lab.
/ STATES
New Jersey Gov. Phil Murphy (D) conditionally vetoed a medical cannabis telehealth bill because he said it places “undue limitations” on patients.
Connecticut Gov. Ned Lamont (D) suggested that passage of a marijuana legalization bill could be delayed until next year due to disagreements among Democrats over key provisions.
Pennsylvania’s lieutenant governor will participate in a 4/20 rally at the state Capitol on Tuesday.
Alabama’s House speaker said it will likely be a few more weeks until a Senate-passed medical cannabis bill comes up for a floor vote.
Wisconsin’s House speaker said there is “substantial support” among Republicans for medical cannabis.
The California Senate Business, Professions & Economic Development Committee approved a bill to let cities and counties opt into letting the state manage marijuana regulations for them.
A Florida representative who is sponsoring a bill to enact THC potency caps on medical cannabis is conceding that it is all but dead for the session.
The Washington, D.C. Council is set to vote on a bill to let formerly incarcerated people work in the marijuana industry on Tuesday.
Ohio regulators voted to more than double the number of medical cannabis dispensaries.
New Mexico regulators are accepting applications to serve on the new Cannabis Regulatory Advisory Committee. Separately, the health secretary said medical cannabis dispensary workers should be viewed similarly to pharmacists when it comes to coronavirus vaccine eligibility, a stance that undermines the state’s position in a lawsuit about taxing the product in a way that other medicines are not.
Colorado regulators issued a health and safety advisory about potentially unsafe levels of yeast and mold and lead on medical cannabis flower produced by Primal LLC.
Nevada regulators are extending the expiration of active marijuana temporary agent registration cards until June 30.
New Hampshire regulators approved a new medical cannabis dispensary to operate.
Washington State regulators posted information about potential new rules on pesticide and heavy metal testing for marijuana. They also sent a newsletter with other cannabis information. Meanwhile, the Social Equity in Cannabis Task Force’s Licensing Workgroup will meet on Wednesday.
Minnesota regulators published updated data on participation in the medical cannabis program.
https://www.marijuanamoment.net/house-approves-cannabis-banking-bill-newsletter-april-20-2021/
The House of Representatives approved a marijuana banking bill. The SAFE Banking Act cleared the chamber three times last Congress but got blocked in the Republican-controlled Senate. Hopes are high now that Democrats run both chambers of Congress, however.
Twenty-one governors, 51 state and territory banking associations and a group of state treasurers sent letters calling on Congress to pass the marijuana banking bill.
A new Pew Research Center poll found that 91% of Americans now support legalizing marijuana for recreational or medical use.
In a new Federal Register filing, the U.S. Postal Service is instructing hemp and CBD companies about how they can potentially apply for exemptions to a new federal law that generally bans the mailing of vaping devices.
North Carolina’s Senate president pro tempore noted strong public support for medical cannabis after the body’s Rules Committee chairman filed a bill on the issue.
/ FEDERAL
The Biden administration is reportedly considering requiring tobacco companies to lower nicotine levels in cigarettes.
A federal judge denied a company’s request for an injunction to prevent Customs and Border Protection from blocking its shipments of hemp processing machines.
The U.S. Department of Agriculture tweeted about the availability of revenue protection insurance for hemp.
Sen. Ron Wyden (D-OR) and Reps. Earl Blumenauer and Barbara Lee (D-CA) spoke about why they believe Vice President Kamala Harris will advocate behind the scenes for President Joe Biden to evolve on marijuana.
Sen. Mike Rounds (R-SD) said he has a lot of concerns about marijuana legalization.
Rep. Earl Blumenauer (D-OR) tweeted a tribute to marijuana legalization pioneer Steve Fox, who passed away last week.
Rep. Mark Pocan (D-WI) tweeted about a new poll showing support for cannabis legalization, saying, “Your 4/19 reminder that marijuana should be legalized nationwide.”
Rep. Ted Lieu (D-CA) tweeted, “Everything in politics seems impossible, until it happens. Time to remove cannabis from the schedule of controlled substances. Spending even one dime of taxpayer funds on federal marijuana investigations and prosecutions is dumb.”
Rep. Elaine Luria (D-VA) toured a CBD lab.
/ STATES
New Jersey Gov. Phil Murphy (D) conditionally vetoed a medical cannabis telehealth bill because he said it places “undue limitations” on patients.
Connecticut Gov. Ned Lamont (D) suggested that passage of a marijuana legalization bill could be delayed until next year due to disagreements among Democrats over key provisions.
Pennsylvania’s lieutenant governor will participate in a 4/20 rally at the state Capitol on Tuesday.
Alabama’s House speaker said it will likely be a few more weeks until a Senate-passed medical cannabis bill comes up for a floor vote.
Wisconsin’s House speaker said there is “substantial support” among Republicans for medical cannabis.
The California Senate Business, Professions & Economic Development Committee approved a bill to let cities and counties opt into letting the state manage marijuana regulations for them.
A Florida representative who is sponsoring a bill to enact THC potency caps on medical cannabis is conceding that it is all but dead for the session.
The Washington, D.C. Council is set to vote on a bill to let formerly incarcerated people work in the marijuana industry on Tuesday.
Ohio regulators voted to more than double the number of medical cannabis dispensaries.
New Mexico regulators are accepting applications to serve on the new Cannabis Regulatory Advisory Committee. Separately, the health secretary said medical cannabis dispensary workers should be viewed similarly to pharmacists when it comes to coronavirus vaccine eligibility, a stance that undermines the state’s position in a lawsuit about taxing the product in a way that other medicines are not.
Colorado regulators issued a health and safety advisory about potentially unsafe levels of yeast and mold and lead on medical cannabis flower produced by Primal LLC.
Nevada regulators are extending the expiration of active marijuana temporary agent registration cards until June 30.
New Hampshire regulators approved a new medical cannabis dispensary to operate.
Washington State regulators posted information about potential new rules on pesticide and heavy metal testing for marijuana. They also sent a newsletter with other cannabis information. Meanwhile, the Social Equity in Cannabis Task Force’s Licensing Workgroup will meet on Wednesday.
Minnesota regulators published updated data on participation in the medical cannabis program.
https://www.marijuanamoment.net/house-approves-cannabis-banking-bill-newsletter-april-20-2021/
The U.S. House of Representatives on Monday approved a bill to protect banks that service state-legal marijuana businesses from being penalized by federal regulators.
After receiving an initial voice vote earlier in the afternoon, members passed the legislation by a final recorded vote of 321-101.
The legislation, which was reintroduced by Rep. Ed Perlmutter (D-CO) and a long bipartisan list of cosponsors last month, was taken up under a process known as suspension of the rules, which does not allow for amendments and requires a 2/3rd supermajority to pass.
The fact is that people in states and localities across the country are voting to approve some level of cannabis use, and we need these cannabis businesses and employees to have access to checking accounts, payroll accounts, lines of credit, credit cards and more,” Perlmutter said on the House floor. “This will improve transparency and accountability, and help law enforcement root out illegal transactions to prevent tax evasion, money laundering and other white collar crime. But most importantly, this will reduce the risk of violent crime in our communities.”
Because marijuana businesses are largely precluded from accessing traditional financial institutions and have to operate on a mostly cash-only basis, that makes them targets of crime—a point that advocates, regulators and banking representatives have emphasized.
“Even if you are opposed to the legalization of cannabis, you should support this bill,” Perlmutter added. “American voters have spoken and continue to speak—and the fact is, you can’t put the genie back in the bottle. Prohibition is over.”
Rep. Earl Blumenauer (D-OR), co-chair of the Congressional Cannabis Caucus, said “it’s time for us to address this inconsistency, it’s time for us to pass, again, the SAFE Banking Act and it’s time for us to move forward with legalization on the federal level.”
“I appreciate us being at this point—a critical first step along the path to full legalization, which I’m confident will happen this Congress, and not a moment too soon,” the congressman said.
Rep. Patrick McHenry (R-NC) spoke in opposition to the legislation, stating that “regardless of your position on this bill, I do think the fact remains that cannabis is a prohibited substance under Schedule I of the Controlled Substances Act—and let me further state, by enacting this legislation, we’re effectively kneecapping law enforcement enforcement and legalizing money laundering.”
But in a sign of the bipartisan nature of this reform, Rep. David Joyce (R-OH) took to the floor to defend the legislation. He said “I’m proud to help lead this common sense and overdue effort.”
“At a time when small businesses are just beginning to recover from the economic destruction caused by COVID-19, the federal government should be supporting them, not standing in their way,” he said.
McHenry was the only lawmaker to rise against the bill on the floor, yielding all additional opposition time to other Republican members who actually spoke in support of it.
Just before the debate started on Monday, the governors of 20 states and one U.S. territory—as well as bankers associations representing every state in the country and a coalition of state treasurers—sent letters to House leadership, expressing support for the reform legislation.
The vote marks the fourth time the House has approved the Secure and Fair Enforcement (SAFE) Banking Act. Lawmakers passed it as a standalone bill in 2019 and then twice more as part of coronavirus relief legislation. At no point did the measure move forward in the Senate under Republican control last session, however.
But this time around, advocates and industry stakeholders are feeling confident that the bill’s path will not end in the House. With Democrats now in control of both chambers and the White House, there are high expectations that the proposal will make its way through the Senate and onto the president’s desk.
The legislation would ensure that financial institutions could take on cannabis business clients without facing federal penalties. Fear of sanctions has kept many banks and credit unions from working with the industry, forcing marijuana firms to operate on a cash basis that makes them targets of crime and creates complications for financial regulators.
“For the first time since Joe Biden assumed the presidency, a supermajority of the House has voted affirmatively to recognize that the legalization and regulation of marijuana is a superior public policy to prohibition and criminalization,” NORML Political Director Justin Strekal said in a press release. “However, the SAFE Banking Act is only a first step at making sure that these state-legal markets operate safely and efficiently. The sad reality is that those who own or patronize the unbanked businesses are themselves criminals in the eyes of the federal government, which can only be addressed by removing marijuana from the list of controlled substances.”
Aaron Smith, co-founder and chief executive officer of the National Cannabis Industry Association, said the bill is “vital for improving public safety and transparency and will improve the lives of the more than 300,000 people who work in the state-legal cannabis industry.”
“It will also help level the playing field for small businesses and communities with limited access to capital,” he said. “It is time for the Senate to start considering the companion legislation without delay.”
At the beginning of Monday’s House session, prior to the formal debate on the bill, Rep. Bob Good (R-VA) voiced opposition to the legislation, arguing that it is “about legitimizing and bankrolling the marijuana industry and making legalization inevitable.”
“We’re not even directly debating our drug laws,” he said. “No, we’re cowardly debating if we should reward states that are undermining the rule of law. Despite what the swamp says, we don’t need recreational marijuana.”
House Majority Leader Steny Hoyer’s (D-MD) office first confirmed that the chamber would vote on the SAFE Banking Act on Friday.
Days after the legislation was introduced in the House last month, it was also refiled in the Senate, where Sens. Jeff Merkley (D-OR) and Steve Daines (R-MT) are the chief sponsors. That version currently has 32 cosponsors. It remains to be seen when the bill will be scheduled for action in the chamber.
After it passed the House last Congress, advocates and stakeholders closely watched for any action to come out of the Senate Banking Committee, where it was referred after being transmitted to the chamber. But then-Chairman Mike Crapo (R-ID) did not hold a hearing on the proposal, despite talk of negotiations taking place regarding certain provisions.
Crapo said he opposed the reform proposal, but he signaled that he might be more amenable if it included certain provisions viewed as untenable to the industry, including a two percent THC potency limit on products in order for cannabis businesses to qualify to access financial services as well as blocking banking services for operators that sell high-potency vaping devices or edibles that could appeal to children.
Sen. Sherrod Brown (D-OH), who took the top seat in that panel after Democrats secured a majority in the Senate, told reporters in February that he’s “willing” to move the cannabis banking bill, “but with it needs to come sentencing reform.”
When legislative leaders announced that the SAFE Banking Act was getting a House vote in 2019, there was pushback from some advocates who felt that Congress should have prioritized comprehensive reform to legalize marijuana and promote social equity, rather than start with a measure viewed as primarily friendly to industry interests.
Rep. Earl Blumenauer (D-OR), co-chair of the Congressional Cannabis Caucus and an original cosponsor of the bill, said last month that the plan is to pass the banking reform first this session because it “is a public safety crisis now,” and it’s “distinct—as we’ve heard from some of my colleagues—distinct from how they feel about comprehensive reform.”
Meanwhile, congressional lawmakers are simultaneously preparing to introduce legislation to end federal cannabis prohibition.
Senate Majority Leader Chuck Schumer (D-NY), Senate Finance Chairman Ron Wyden (D-OR) and Sen. Cory Booker (D-NJ) are in the process of crafting a legalization bill, and they’ve already met with advocates to get feedback on how best to approach the policy change.
Schumer said last week that the legislation will be introduced and placed on the floor “soon.”
On the House side, Judiciary Chairman Jerrold Nadler (D-NY) said recently that he plans to reintroduced his legalization bill, the Marijuana Opportunity, Reinvestment and Expungement (MORE) Act, which cleared the chamber last year but did not advance in the Senate under GOP control.
The U.S. House of Representatives on Monday approved a bill to protect banks that service state-legal marijuana businesses from being penalized by federal regulators.
After receiving an initial voice vote earlier in the afternoon, members passed the legislation by a final recorded vote of 321-101.
The legislation, which was reintroduced by Rep. Ed Perlmutter (D-CO) and a long bipartisan list of cosponsors last month, was taken up under a process known as suspension of the rules, which does not allow for amendments and requires a 2/3rd supermajority to pass.
The fact is that people in states and localities across the country are voting to approve some level of cannabis use, and we need these cannabis businesses and employees to have access to checking accounts, payroll accounts, lines of credit, credit cards and more,” Perlmutter said on the House floor. “This will improve transparency and accountability, and help law enforcement root out illegal transactions to prevent tax evasion, money laundering and other white collar crime. But most importantly, this will reduce the risk of violent crime in our communities.”
Because marijuana businesses are largely precluded from accessing traditional financial institutions and have to operate on a mostly cash-only basis, that makes them targets of crime—a point that advocates, regulators and banking representatives have emphasized.
“Even if you are opposed to the legalization of cannabis, you should support this bill,” Perlmutter added. “American voters have spoken and continue to speak—and the fact is, you can’t put the genie back in the bottle. Prohibition is over.”
Rep. Earl Blumenauer (D-OR), co-chair of the Congressional Cannabis Caucus, said “it’s time for us to address this inconsistency, it’s time for us to pass, again, the SAFE Banking Act and it’s time for us to move forward with legalization on the federal level.”
“I appreciate us being at this point—a critical first step along the path to full legalization, which I’m confident will happen this Congress, and not a moment too soon,” the congressman said.
Rep. Patrick McHenry (R-NC) spoke in opposition to the legislation, stating that “regardless of your position on this bill, I do think the fact remains that cannabis is a prohibited substance under Schedule I of the Controlled Substances Act—and let me further state, by enacting this legislation, we’re effectively kneecapping law enforcement enforcement and legalizing money laundering.”
But in a sign of the bipartisan nature of this reform, Rep. David Joyce (R-OH) took to the floor to defend the legislation. He said “I’m proud to help lead this common sense and overdue effort.”
“At a time when small businesses are just beginning to recover from the economic destruction caused by COVID-19, the federal government should be supporting them, not standing in their way,” he said.
McHenry was the only lawmaker to rise against the bill on the floor, yielding all additional opposition time to other Republican members who actually spoke in support of it.
Just before the debate started on Monday, the governors of 20 states and one U.S. territory—as well as bankers associations representing every state in the country and a coalition of state treasurers—sent letters to House leadership, expressing support for the reform legislation.
The vote marks the fourth time the House has approved the Secure and Fair Enforcement (SAFE) Banking Act. Lawmakers passed it as a standalone bill in 2019 and then twice more as part of coronavirus relief legislation. At no point did the measure move forward in the Senate under Republican control last session, however.
But this time around, advocates and industry stakeholders are feeling confident that the bill’s path will not end in the House. With Democrats now in control of both chambers and the White House, there are high expectations that the proposal will make its way through the Senate and onto the president’s desk.
The legislation would ensure that financial institutions could take on cannabis business clients without facing federal penalties. Fear of sanctions has kept many banks and credit unions from working with the industry, forcing marijuana firms to operate on a cash basis that makes them targets of crime and creates complications for financial regulators.
“For the first time since Joe Biden assumed the presidency, a supermajority of the House has voted affirmatively to recognize that the legalization and regulation of marijuana is a superior public policy to prohibition and criminalization,” NORML Political Director Justin Strekal said in a press release. “However, the SAFE Banking Act is only a first step at making sure that these state-legal markets operate safely and efficiently. The sad reality is that those who own or patronize the unbanked businesses are themselves criminals in the eyes of the federal government, which can only be addressed by removing marijuana from the list of controlled substances.”
Aaron Smith, co-founder and chief executive officer of the National Cannabis Industry Association, said the bill is “vital for improving public safety and transparency and will improve the lives of the more than 300,000 people who work in the state-legal cannabis industry.”
“It will also help level the playing field for small businesses and communities with limited access to capital,” he said. “It is time for the Senate to start considering the companion legislation without delay.”
At the beginning of Monday’s House session, prior to the formal debate on the bill, Rep. Bob Good (R-VA) voiced opposition to the legislation, arguing that it is “about legitimizing and bankrolling the marijuana industry and making legalization inevitable.”
“We’re not even directly debating our drug laws,” he said. “No, we’re cowardly debating if we should reward states that are undermining the rule of law. Despite what the swamp says, we don’t need recreational marijuana.”
House Majority Leader Steny Hoyer’s (D-MD) office first confirmed that the chamber would vote on the SAFE Banking Act on Friday.
Days after the legislation was introduced in the House last month, it was also refiled in the Senate, where Sens. Jeff Merkley (D-OR) and Steve Daines (R-MT) are the chief sponsors. That version currently has 32 cosponsors. It remains to be seen when the bill will be scheduled for action in the chamber.
After it passed the House last Congress, advocates and stakeholders closely watched for any action to come out of the Senate Banking Committee, where it was referred after being transmitted to the chamber. But then-Chairman Mike Crapo (R-ID) did not hold a hearing on the proposal, despite talk of negotiations taking place regarding certain provisions.
Crapo said he opposed the reform proposal, but he signaled that he might be more amenable if it included certain provisions viewed as untenable to the industry, including a two percent THC potency limit on products in order for cannabis businesses to qualify to access financial services as well as blocking banking services for operators that sell high-potency vaping devices or edibles that could appeal to children.
Sen. Sherrod Brown (D-OH), who took the top seat in that panel after Democrats secured a majority in the Senate, told reporters in February that he’s “willing” to move the cannabis banking bill, “but with it needs to come sentencing reform.”
When legislative leaders announced that the SAFE Banking Act was getting a House vote in 2019, there was pushback from some advocates who felt that Congress should have prioritized comprehensive reform to legalize marijuana and promote social equity, rather than start with a measure viewed as primarily friendly to industry interests.
Rep. Earl Blumenauer (D-OR), co-chair of the Congressional Cannabis Caucus and an original cosponsor of the bill, said last month that the plan is to pass the banking reform first this session because it “is a public safety crisis now,” and it’s “distinct—as we’ve heard from some of my colleagues—distinct from how they feel about comprehensive reform.”
Meanwhile, congressional lawmakers are simultaneously preparing to introduce legislation to end federal cannabis prohibition.
Senate Majority Leader Chuck Schumer (D-NY), Senate Finance Chairman Ron Wyden (D-OR) and Sen. Cory Booker (D-NJ) are in the process of crafting a legalization bill, and they’ve already met with advocates to get feedback on how best to approach the policy change.
Schumer said last week that the legislation will be introduced and placed on the floor “soon.”
On the House side, Judiciary Chairman Jerrold Nadler (D-NY) said recently that he plans to reintroduced his legalization bill, the Marijuana Opportunity, Reinvestment and Expungement (MORE) Act, which cleared the chamber last year but did not advance in the Senate under GOP control.
Actually, that is not correct...Due to insiders holding such high % of shares, they had to lower the threshold to make sure the regular votes count
Actually, that is not correct...Due to insiders holding such high % of shares, they had to lower the threshold to make sure the regular votes count
Legal marijuana movement builds as more states change laws
Both leaders and voters are seeing benefits to legal weed, experts say.
ByIvan Pereira
April 8, 2021, 5:05 AM ET
• 9 min read
By the Numbers: Support for legalized marijuana at an all-time highNew Jersey joined a growing list of states that have legalized recreational marijuana, as support for legalization reaches a new high.Blair Gable/Reuters, FILE
In the last four months, five states have legalized recreational marijuana, meaning now 30% of the country allows its adult residents to possess and use cannabis.
At least two more states are poised to be added to that list following the passage of cannabis legalization bills this year.
Marijuana policy experts and advocates say this national trend is indicative of a shift in Americans' perspectives on marijuana.
MORE: New York legalizes recreational marijuana, expunges former pot convictions
Arguments from elected officials and voters that centered around perceived dangers of marijuana substance abuse or a rise in criminal activities have quelled as evidence has grown to show there are economic, social and health benefits from a state regulated cannabis industry, according to Mason Marks, a law professor at Gonzaga University and a fellow-in-residence at Harvard Law School's Petrie-Flom Center for Health Law Policy, Biotechnology, and Bioethics.
"It’s turning out to be very antiquated," Marks said of past opposition to legalizing marijuana.
Marks and other experts say there will be stronger legalization efforts in the near future. However, they noted there would still be an uphill battle before the country sees any true national repeal of its marijuana laws.
Abc News Photo Illustration / Marijuana Policy Project
States With Legal Use of Marijuana
Abc News Photo Illustration / Marijuana Policy Project
As of April 7, 15 states have legalized recreational and medical marijuana through voter ballot initiatives or state bills. The New Mexico and Virginia state legislatures passed bills this session that would repeal their respective prohibitions on cannabis and are awaiting signatures from their governors.
State leaders have led their legalization efforts by emphasizing how a regulated market could help boost their coffers in a post-pandemic economy and acknowledging the decades of social justice issues that were created by current and previous drug laws.
When New York Gov. Andrew Cuomo signed the state bill to legalize marijuana last week, he touted the estimated $350 million in annual tax revenues that the bill would bring and said it would "right the wrongs of the past by putting an end to harsh prison sentences." This was in sharp contrast to four years ago, when Cuomo told reporters he was opposed to legalizing marijuana, calling it "a gateway drug."
"As of this date, I am unconvinced on recreational marijuana," Cuomo said in February 2017.
Marks said Cuomo's changing sentiments are in line with the rest of the country. Since 2012, when Colorado and Washington became the first states to legalize and regulate, national support for ending cannabis prohibition has risen from 48% to 68%, according to a February Gallup poll.
Steven Hawkins, the executive director of the nonprofit advocacy group the Marijuana Policy Project, told ABC News he believes the near-decade of legalized marijuana in the country has shown people that decriminalizing and regulating marijuana doesn't result in bad consequences for communities.
A study released in 2019 by Washington State University found "no statistically significant long-term effects of recreational cannabis laws, or the initiation of legal retail sales, on violent or property crime rates," in Washington state or Colorado.
Hawkins said more Americans are also realizing the decades of unequal treatment brought by state drug laws and are more vocal in rectifying them. He noted that there were over 650,000 arrests for cannabis-related offenses last year, 90% of which were for possession, and the majority of those arrests were of minorities.
"I think most people have come to realize that cannabis has not been a gateway drug but a gateway to the criminal justice system," Hawkins told ABC News.
Blair Gable/Reuters, FILE
Chemdawg marijuana plants grow at a facility, Oct. 29, 2019.
Blair Gable/Reuters, FILE
Hawkins said there will be more pressure on other states to change their laws, but warned that there will still be more work ahead, even in places where voters approved legalization measures.
In South Dakota, 225,260 voters, or roughly 54% of the electorate, voted in favor of a constitutional amendment that legalized recreational marijuana, according to state election results. Four other states also passed ballot measures on Election Day that legalized marijuana.
The South Dakota ballot measure, however, was challenged in a lawsuit filed by state officers on behalf of Gov. Kristi Noem.
In February, Circuit Judge Christina Klinger ruled in favor of the plaintiffs, stating the measure violated the state's single-subject rule and was a revision of the constitution rather than an amendment, and the decision is pending an appeal.
"Governor Noem swore an oath to protect both the South Dakota and United States Constitution. Amendment A was passed in an unconstitutional fashion, so as part of her duty as governor, she is supporting the lawsuit challenging the amendment," Ian Fury, a spokesman for Noem, said in a statement to ABC News.
MORE: How conservative South Dakota could be at the forefront of legalizing marijuana
Hawkins said the suit is undermining the will of the voters, who he noted mostly voted for Republicans in the congressional and presidential race. He added that he believes the suit won't dissipate strong support from South Dakotans.
"If anything, it would slow down the process," Hawkins said of the legal action taken by opponents in South Dakota. "What South Dakota shows is the electorate crosses political lines when it comes to cannabis."
Carlo Allegri/Reuters
Cannabis stickers on a Weed World store window are pictured the day New York State legalized recreational marijuana use amid the coronavirus disease (COVID-19) pandemic in New York City, March 31, 2021.
Carlo Allegri/Reuters
Marks said the ultimate battle will come in Washington, D.C. As more states legalize marijuana, Congress will have to come up with legislation that addresses the national drug laws.
However, there is still some work to be done on the federal level, according to Marks.
President Joe Biden said there needed to be more recreational cannabis legalization research before he could fully support it.
In an interview with Politico last week, Senate Majority Leader Chuck Schumer has said he wants to see a bill introduced, even if the president isn't fully on board.
"I want to make my arguments to him, as many other advocates will," Schumer told Politico. "But at some point, we're going to move forward, period."
MORE: Marijuana legalization successes pave way for national conversation on drug laws: Experts
Marks said he thinks it is concerning that the president and congressional leaders aren't in sync on the issue. He predicted they're going to have to make a concerted effort to address the growing support and success of legalized marijuana in the states.
"It really is a public health consideration, whether the state legislators or other leaders say it or not," he said. "People are going to use this no matter what, and we've got to do make sure it’s done safely."
Legal marijuana movement builds as more states change laws
Both leaders and voters are seeing benefits to legal weed, experts say.
ByIvan Pereira
April 8, 2021, 5:05 AM ET
• 9 min read
By the Numbers: Support for legalized marijuana at an all-time highNew Jersey joined a growing list of states that have legalized recreational marijuana, as support for legalization reaches a new high.Blair Gable/Reuters, FILE
In the last four months, five states have legalized recreational marijuana, meaning now 30% of the country allows its adult residents to possess and use cannabis.
At least two more states are poised to be added to that list following the passage of cannabis legalization bills this year.
Marijuana policy experts and advocates say this national trend is indicative of a shift in Americans' perspectives on marijuana.
MORE: New York legalizes recreational marijuana, expunges former pot convictions
Arguments from elected officials and voters that centered around perceived dangers of marijuana substance abuse or a rise in criminal activities have quelled as evidence has grown to show there are economic, social and health benefits from a state regulated cannabis industry, according to Mason Marks, a law professor at Gonzaga University and a fellow-in-residence at Harvard Law School's Petrie-Flom Center for Health Law Policy, Biotechnology, and Bioethics.
"It’s turning out to be very antiquated," Marks said of past opposition to legalizing marijuana.
Marks and other experts say there will be stronger legalization efforts in the near future. However, they noted there would still be an uphill battle before the country sees any true national repeal of its marijuana laws.
Abc News Photo Illustration / Marijuana Policy Project
States With Legal Use of Marijuana
Abc News Photo Illustration / Marijuana Policy Project
As of April 7, 15 states have legalized recreational and medical marijuana through voter ballot initiatives or state bills. The New Mexico and Virginia state legislatures passed bills this session that would repeal their respective prohibitions on cannabis and are awaiting signatures from their governors.
State leaders have led their legalization efforts by emphasizing how a regulated market could help boost their coffers in a post-pandemic economy and acknowledging the decades of social justice issues that were created by current and previous drug laws.
When New York Gov. Andrew Cuomo signed the state bill to legalize marijuana last week, he touted the estimated $350 million in annual tax revenues that the bill would bring and said it would "right the wrongs of the past by putting an end to harsh prison sentences." This was in sharp contrast to four years ago, when Cuomo told reporters he was opposed to legalizing marijuana, calling it "a gateway drug."
"As of this date, I am unconvinced on recreational marijuana," Cuomo said in February 2017.
Marks said Cuomo's changing sentiments are in line with the rest of the country. Since 2012, when Colorado and Washington became the first states to legalize and regulate, national support for ending cannabis prohibition has risen from 48% to 68%, according to a February Gallup poll.
Steven Hawkins, the executive director of the nonprofit advocacy group the Marijuana Policy Project, told ABC News he believes the near-decade of legalized marijuana in the country has shown people that decriminalizing and regulating marijuana doesn't result in bad consequences for communities.
A study released in 2019 by Washington State University found "no statistically significant long-term effects of recreational cannabis laws, or the initiation of legal retail sales, on violent or property crime rates," in Washington state or Colorado.
Hawkins said more Americans are also realizing the decades of unequal treatment brought by state drug laws and are more vocal in rectifying them. He noted that there were over 650,000 arrests for cannabis-related offenses last year, 90% of which were for possession, and the majority of those arrests were of minorities.
"I think most people have come to realize that cannabis has not been a gateway drug but a gateway to the criminal justice system," Hawkins told ABC News.
Blair Gable/Reuters, FILE
Chemdawg marijuana plants grow at a facility, Oct. 29, 2019.
Blair Gable/Reuters, FILE
Hawkins said there will be more pressure on other states to change their laws, but warned that there will still be more work ahead, even in places where voters approved legalization measures.
In South Dakota, 225,260 voters, or roughly 54% of the electorate, voted in favor of a constitutional amendment that legalized recreational marijuana, according to state election results. Four other states also passed ballot measures on Election Day that legalized marijuana.
The South Dakota ballot measure, however, was challenged in a lawsuit filed by state officers on behalf of Gov. Kristi Noem.
In February, Circuit Judge Christina Klinger ruled in favor of the plaintiffs, stating the measure violated the state's single-subject rule and was a revision of the constitution rather than an amendment, and the decision is pending an appeal.
"Governor Noem swore an oath to protect both the South Dakota and United States Constitution. Amendment A was passed in an unconstitutional fashion, so as part of her duty as governor, she is supporting the lawsuit challenging the amendment," Ian Fury, a spokesman for Noem, said in a statement to ABC News.
MORE: How conservative South Dakota could be at the forefront of legalizing marijuana
Hawkins said the suit is undermining the will of the voters, who he noted mostly voted for Republicans in the congressional and presidential race. He added that he believes the suit won't dissipate strong support from South Dakotans.
"If anything, it would slow down the process," Hawkins said of the legal action taken by opponents in South Dakota. "What South Dakota shows is the electorate crosses political lines when it comes to cannabis."
Carlo Allegri/Reuters
Cannabis stickers on a Weed World store window are pictured the day New York State legalized recreational marijuana use amid the coronavirus disease (COVID-19) pandemic in New York City, March 31, 2021.
Carlo Allegri/Reuters
Marks said the ultimate battle will come in Washington, D.C. As more states legalize marijuana, Congress will have to come up with legislation that addresses the national drug laws.
However, there is still some work to be done on the federal level, according to Marks.
President Joe Biden said there needed to be more recreational cannabis legalization research before he could fully support it.
In an interview with Politico last week, Senate Majority Leader Chuck Schumer has said he wants to see a bill introduced, even if the president isn't fully on board.
"I want to make my arguments to him, as many other advocates will," Schumer told Politico. "But at some point, we're going to move forward, period."
MORE: Marijuana legalization successes pave way for national conversation on drug laws: Experts
Marks said he thinks it is concerning that the president and congressional leaders aren't in sync on the issue. He predicted they're going to have to make a concerted effort to address the growing support and success of legalized marijuana in the states.
"It really is a public health consideration, whether the state legislators or other leaders say it or not," he said. "People are going to use this no matter what, and we've got to do make sure it’s done safely."
r/SPACs - $STPK $TSLA New York speculation
Recently It was announced that Tesla power walls will be used in New York’s first virtual power plant
(For those who don’t know what a virtual power plant is, basically it’s the future of how our energy grid will run, having batteries on every home/commercial building buying/selling energy to each other instead of one huge power plant powering a whole region this is a VPP
Tesla power walls will be used in New York’s first small VPP
https://www.google.ca/amp/s/electrek.co/2021/04/06/tesla-powerwall-power-new-virtual-power-plant-new-york/amp/
As we all know, Stem Inc has the software for virtual power plants and has put there software on Tesla batteries several times, possible new deal?? It gets better
Stem inc also posted several new job applications for New York (they only started posting recently, never have I seen a new job opening before this month, in New York )
Several jobs including “Account executive” “Developer team” etc
Also remember the Texas project they have yet to announce? same thing almost with Stem Inc.
What a fishy coincidence /r/SPACs/comments/m1ip6n/the_electrification_of_grid_is_coming_now_this_is/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
Thoughts ?
Read More JMO..
This is huge! By being granted up to 5 more bills that can be passed without a super majority (republicans) by budget reconciliation, they can now justify decriminalization with its impact on cannabis sales tax collection for the budget. Here it comes!
Senate official gives Democrats tool to bypass filibuster on certain bills. Here's what it means.
SAVANNAH BEHRMANN | USA TODAY | 53 minutes ago
A Senate filibuster may kill Biden's agenda, stirring calls to end the controversial tactic. Here's how a filibuster works and its history, explained.
JUST THE FAQS, USA TODAY
WASHINGTON – A key Senate official ruled Monday that Democrats can use a budget process to push pivotal bills, like infrastructure, through the gridlocked chamber, according Senate Majority Leader Chuck Schumer's, D-N.Y., office.
The opinion increases the number of ways Democrats can advance their agenda, like President Joe Biden's sweeping $2 trillion infrastructure plan.
Republicans have criticized the proposal from the start, with conservatives panning it as going too far beyond traditional infrastructure spending and comparing its climate measures to the Green New Deal.
More: Biden is pitching a big infrastructure plan, but Republicans already panned it as going too far
Reaching 60 votes in the Senate looked grim looked from the starting line: Senate Minority Leader Mitch McConnell, R-KY., said last week he would fight the plan, suggesting from the onset there would be no Republican support.
But the process — budget reconciliation — would allow Democrats to skip major procedural roadblocks, like getting 60 votes, on items related to the budget like the infrastructure bill, the next piece of Biden's "Build Back Better" agenda.
Under this process, with the Senate being tied 50-50, Vice President Kamala Harris would be able to break a tie and pass the legislation.
More: How does Biden plan to get infrastructure plan through Congress?
Usually, the Senate needs 60 votes to surpass a filibuster, meaning 10 Republicans would need to join every Democrat, and the independents who caucus with Democrats, to pass legislation if it is related to taxing and spending.
A spokesman for Schumer said Senate parliamentarian Elizabeth MacDonough "has advised that a revised budget resolution may contain budget reconciliation instructions."
Simply put, this allows Democrats to bypass the filibuster and use reconciliation once more in fiscal year 2021 – and several more times next year.
The White House is comparing President Joe Biden's infrastructure proposal to the construction of interstate highways and the Space Race.
STAFF VIDEO, USA TODAY
Senators usually use just one opportunity to pass a budget resolution for fiscal year. But MacDonough's ruling means Democrats can amend the budget resolution used recently for the COVID stimulus bill by attaching another set of reconciliation instructions to it.
More: Joe Biden wants to spend $2 trillion on infrastructure and jobs. These 4 charts show where the money would go.
"This confirms the Leader’s interpretation of the Budget Act and allows Democrats additional tools to improve the lives of Americans if Republican obstruction continues," Schumer's spokesman continued.
He stressed "no decisions have been made on a legislative path forward"and "some parameters still need to be worked out," but "the Parliamentarian’s opinion is an important step forward that this key pathway is available to Democrats if needed.”
More: Biden is pitching a big infrastructure plan, but Republicans already panned it as going too far
Schumer aides had been discussing with MacDonough for weeks about whether they could use the 2021 budget resolution again. Congress used budget reconciliation to pass Biden's $1.9 trillion American Rescue Plan in March without any Republican votes.
It is unclear what Schumer will do about the infrastructure bill and the next half of Biden's "Build Back Better" agenda, which is coming later this month.
But budget reconciliation allows Schumer to maximize options for passingBiden’s "Build Back Better" agenda if Republicans attempt to block legislation or "water down a bipartisan agreement," aides said last week.
McConnell declared plainly on Monday that Biden’s infrastructure plan is “something we’re not going to do.”
Speaking to reporters in Kentucky, McConnell said Republicans could support a “much more modest” approach, and one that doesn’t rely on corporate tax hikes to pay for it.
A core dividing line is Biden’s effort to pay for infrastructure by undoing former President Donald Trump’s tax break for corporations, a signature achievement of the Trump White House and its partners in Congress.
A single senator breaking ranks can influence the size of the package: Sen. Joe Manchin, D-W.V., said Monday the current legislation needs "to be changed," especially in regard to the increase in corporate tax rate.
He will be a pivotal vote for a simple majority vote in the divided Senate.
There may be constraints on what can be in legislation passed by budget reconciliation.
For example, backers of a push to raise the federal hourly minimum wage to $15 suffered a key loss in February after MacDonough ruled the measure could not be considered part of Biden's COVID relief package.
More: $15 minimum wage increase can't go in COVID relief legislation, Senate official rules
Reconciliation can also turn into a grueling process in which any senator can force a vote on an amendment.
These "vote-a-ramas" can go on for hours, requiring senators to be on the Senate floor. During the passage of the American Rescue Plan, one lasted nearly 24 hours.
Contributing: The Associated Press; Joey Garrison, USA TODAY
https://amp.usatoday.com/amp/7099656002
This is huge! By being granted up to 5 more bills that can be passed without a super majority (republicans) by budget reconciliation, they can now justify decriminalization with its impact on cannabis sales tax collection for the budget. Here it comes!
Senate official gives Democrats tool to bypass filibuster on certain bills. Here's what it means.
SAVANNAH BEHRMANN | USA TODAY | 53 minutes ago
A Senate filibuster may kill Biden's agenda, stirring calls to end the controversial tactic. Here's how a filibuster works and its history, explained.
JUST THE FAQS, USA TODAY
WASHINGTON – A key Senate official ruled Monday that Democrats can use a budget process to push pivotal bills, like infrastructure, through the gridlocked chamber, according Senate Majority Leader Chuck Schumer's, D-N.Y., office.
The opinion increases the number of ways Democrats can advance their agenda, like President Joe Biden's sweeping $2 trillion infrastructure plan.
Republicans have criticized the proposal from the start, with conservatives panning it as going too far beyond traditional infrastructure spending and comparing its climate measures to the Green New Deal.
More: Biden is pitching a big infrastructure plan, but Republicans already panned it as going too far
Reaching 60 votes in the Senate looked grim looked from the starting line: Senate Minority Leader Mitch McConnell, R-KY., said last week he would fight the plan, suggesting from the onset there would be no Republican support.
But the process — budget reconciliation — would allow Democrats to skip major procedural roadblocks, like getting 60 votes, on items related to the budget like the infrastructure bill, the next piece of Biden's "Build Back Better" agenda.
Under this process, with the Senate being tied 50-50, Vice President Kamala Harris would be able to break a tie and pass the legislation.
More: How does Biden plan to get infrastructure plan through Congress?
Usually, the Senate needs 60 votes to surpass a filibuster, meaning 10 Republicans would need to join every Democrat, and the independents who caucus with Democrats, to pass legislation if it is related to taxing and spending.
A spokesman for Schumer said Senate parliamentarian Elizabeth MacDonough "has advised that a revised budget resolution may contain budget reconciliation instructions."
Simply put, this allows Democrats to bypass the filibuster and use reconciliation once more in fiscal year 2021 – and several more times next year.
The White House is comparing President Joe Biden's infrastructure proposal to the construction of interstate highways and the Space Race.
STAFF VIDEO, USA TODAY
Senators usually use just one opportunity to pass a budget resolution for fiscal year. But MacDonough's ruling means Democrats can amend the budget resolution used recently for the COVID stimulus bill by attaching another set of reconciliation instructions to it.
More: Joe Biden wants to spend $2 trillion on infrastructure and jobs. These 4 charts show where the money would go.
"This confirms the Leader’s interpretation of the Budget Act and allows Democrats additional tools to improve the lives of Americans if Republican obstruction continues," Schumer's spokesman continued.
He stressed "no decisions have been made on a legislative path forward"and "some parameters still need to be worked out," but "the Parliamentarian’s opinion is an important step forward that this key pathway is available to Democrats if needed.”
More: Biden is pitching a big infrastructure plan, but Republicans already panned it as going too far
Schumer aides had been discussing with MacDonough for weeks about whether they could use the 2021 budget resolution again. Congress used budget reconciliation to pass Biden's $1.9 trillion American Rescue Plan in March without any Republican votes.
It is unclear what Schumer will do about the infrastructure bill and the next half of Biden's "Build Back Better" agenda, which is coming later this month.
But budget reconciliation allows Schumer to maximize options for passingBiden’s "Build Back Better" agenda if Republicans attempt to block legislation or "water down a bipartisan agreement," aides said last week.
McConnell declared plainly on Monday that Biden’s infrastructure plan is “something we’re not going to do.”
Speaking to reporters in Kentucky, McConnell said Republicans could support a “much more modest” approach, and one that doesn’t rely on corporate tax hikes to pay for it.
A core dividing line is Biden’s effort to pay for infrastructure by undoing former President Donald Trump’s tax break for corporations, a signature achievement of the Trump White House and its partners in Congress.
A single senator breaking ranks can influence the size of the package: Sen. Joe Manchin, D-W.V., said Monday the current legislation needs "to be changed," especially in regard to the increase in corporate tax rate.
He will be a pivotal vote for a simple majority vote in the divided Senate.
There may be constraints on what can be in legislation passed by budget reconciliation.
For example, backers of a push to raise the federal hourly minimum wage to $15 suffered a key loss in February after MacDonough ruled the measure could not be considered part of Biden's COVID relief package.
More: $15 minimum wage increase can't go in COVID relief legislation, Senate official rules
Reconciliation can also turn into a grueling process in which any senator can force a vote on an amendment.
These "vote-a-ramas" can go on for hours, requiring senators to be on the Senate floor. During the passage of the American Rescue Plan, one lasted nearly 24 hours.
Contributing: The Associated Press; Joey Garrison, USA TODAY
https://amp.usatoday.com/amp/7099656002
Aphria Inc. Announces Independent Proxy Advisory Firms ISS and Glass Lewis Recommend Shareholders Vote FOR the Proposed Aphria-Tilray Business Combination
Mentioned: APHA
Aphria Inc. ("Aphria") (TSX: APHA) (Nasdaq: APHA), a leading global cannabis-lifestyle consumer packaged goods company, is pleased to announce that both Institutional Shareholder Services Inc. ("ISS") and Glass Lewis and Co., LLC ("Glass Lewis") have recommended that holders (the "Shareholders") of common shares (the "Shares") of Aphria vote FOR the special resolution (the "Aphria Resolution") approving the previously announced arrangement (the "Arrangement") to be completed pursuant to the Business Corporations Act (Ontario) pursuant to which, among other things, Tilray, Inc. ("Tilray", and following the Arrangement, the "Combined Company") will acquire all of the outstanding Shares of Aphria and the Shareholders will become holders of shares of Tilray ("Tilray Shares"). ISS and Glass Lewis are leading independent proxy advisory firms that provide voting recommendations to institutional shareholders.
https://mma.prnewswire.com/media/1480579/Aphria_Inc__Aphria_Inc__announces_Independent_Proxy_Advisory_Fir.jpg