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Perfectly timed article at bitter end of tax selling season promoting more selling is what it is. And it's working as planned.
I'll buy into this getting more shares this week or next and chalk it up as a crummy year for spiders when toast new years.
The notorious "they" are out in force furthering drives downward as per rampant tax loss selling, fourteen more trade days. Some of these days will have record setting volume in my humble prediction. This a Christmas present in disguise. Getting more shares perhaps at a buck at new bottom bringing average way down again.
Know am not alone many are chomping at the bit.
Well lets just see what Biden does with this request you know he wont task K. Harris with this. During debates he said would decrim in first year if vote for him. HE LIES. Harris does nothing but watch her brothers and sister go to prison in vain due to prohibitionist in chief biden.
POLITICSCongressional Lawmakers Want ‘Urgent’ Update From Biden On Marijuana Pardons As Holidays Approach
It’s been almost ten months since a coalition of 37 congressional lawmakers sent a letter to President Joe Biden, urging him to use executive authority to issue mass pardons for people with federal marijuana convictions on their records. Lawmakers are growing impatient, and now they’ve sent a follow-up letter to “urgently request” an update as the holiday season approaches.
Reps. Earl Blumenauer (D-OR), Barbara Lee (D-CA) and Jamaal Bowman (D-NY) wrote to the president last week that many Americans “remain behind bars due to racially discriminatory cannabis policies and continue to accrue criminal fees.”
“To begin rectifying the damage done by these discriminatorily implemented policies and reunite families before the holidays, we reiterate our ask that you use your executive authority to pardon all individuals convicted of nonviolent cannabis offenses, whether formerly or currently incarcerated,” they said. “We further write to specify that all federal criminal fines and fees be cancelled for all nonviolent cannabis offenses.”
This has become a familiar request over the course of Biden’s first year in office. Advocates, lawmakers, celebrities and others have repeatedly pressed the president to made good on his campaign pledge and provide relief to those with cannabis convictions.
Yet so far, the only pardons to take place under the Biden administration have benefited turkeys at a ceremonial Thanksgiving event.
“Many Americans do not believe we should take a punitive approach to marijuana and have already benefited significantly from efforts to loosen or eliminate cannabis regulations at the local or state level,” the congressional trio wrote, noting that polls show strong public support for marijuana reform.
“As the American public continues to voice its pro-legalization position, it’s important that the Black and brown communities most directly harmed by past and current cannabis laws are able to directly benefit from legalization efforts, which includes small business opportunities,” the letter continues. “In addition to economic development opportunities, timely legalization could help save lives and stem the continuing opioid crisis in our nation.”
They further said that fees and fines imposed by the criminal justice system “have also historically had a racially discriminatory impact on local communities,” and so the “federal government has a moral responsibility to stand against this system of structural racism and incentivize municipalities to follow suit.”
“Congress must act to reimagine our nation’s cannabis policies, but we firmly believe that you have the power to take decisive action to begin this necessary work,” they wrote, adding that the House Judiciary Committee approved a comprehensive legalization bill in the months since they sent their first letter on mass cannabis pardons.
“While this bill would make considerable progress towards overhauling American cannabis policies, you maintain the unilateral power to take transformative important action by issuing a blanket pardon of all non-violent federal cannabis offenses. Just as previous presidents have used executive authority to issue blanket pardons consistent with our values that benefit the American people, this is an opportunity for you to uphold commitments made during the campaign and revitalize communities across the country.”
“Therefore, we again urge you to utilize your power to pardon all individuals convicted of nonviolent cannabis offenses and cancel all related federal fines and fees, so that we can reunite families and communities in time for the winter holidays,” the letter concludes.
This letter comes about a month after group of senators separately sent a letter urging Biden to use his executive authority to grant a mass pardon for people with non-violent marijuana convictions.
Sen. Elizabeth Warren (D-MA), who led that letter, said during a recent interview that Biden could boost the economy and promote racial equity with the “stroke of a pen” by granting the relief.
A recently published Congressional Research Service (CRS) report affirmed that the president has it within his power to grant mass pardons for cannabis offenses. It also said that the administration can move to federally legalize cannabis without waiting for lawmakers to act.
Relatedly, a group of more than 150 celebrities, athletes, politicians, law enforcement professionals and academics signed a letter that was delivered to Biden in September, urging him to issue a “full, complete and unconditional pardon” to all people with non-violent federal marijuana convictions.
That letter came just as the administration started encouraging about 1,000 people who were temporarily placed on home confinement for federal drug offenses to fill out clemency application forms.
Warren and Sen. Cory Booker (D-NJ) separately sent a letter to the attorney general in October, making the case that the Justice Department should initiate a marijuana descheduling process in order to “allow states to regulate cannabis as they see fit, begin to remedy the harm caused by decades of racial disparities in enforcement of cannabis laws, and facilitate valuable medical research.”
The White House said in August that the president was looking into using his executive authority to grant clemency to people with certain non-violent drug convictions.
Biden has faced criticism from drug policy reform advocates who’ve grown frustrated that he’s yet to make good on campaign promises such as decriminalizing marijuana possession. The president also campaigned on expunging prior cannabis records and respecting the rights of states to set their own laws.
Since taking office, however, his administration has made little progress on any of those pledges and has instead fired its own White House staffers over marijuana and sought to extend a budget provision that has blocked Washington, D.C. from legalizing cannabis sales.
In April, White House Press Secretary Jen Psaki was pressed on Biden’s clemency promise for people with federal marijuana and said that process will start with modestly rescheduling cannabis—a proposal that advocates say wouldn’t actually accomplish what she’s suggesting.
Moving cannabis from Schedule I to Schedule II under the Controlled Substances Act, as Biden is proposing, wouldn’t facilitate mass clemency given that being convicted for crimes related to drugs in that slightly lower category—which currently includes cocaine—also carries significant penalties.
POLITICSCongressional Lawmakers Want ‘Urgent’ Update From Biden On Marijuana Pardons As Holidays Approach
America is divided by zip code. In one get handcuffed in another are free to be. WTF is that?
Therefore we continue to be the land of the incarcerated home of the pussy land of the meek.
Zags burn.
A NEW House bill that would require the FDA to regulate CBD as a food and beverage ingredient has been introduced by Rep. Kathleen Rice (D-NY), along with Reps. Morgan Griffith (R-VA), Angie Craig (D-IA) and Dan Crenshaw (R-TX). The CBD Product Safety and Standardization Act would specifically authorize the regulation of interstate commerce with respect to food containing cannabidiol derived from hemp, and for other purposes. ?
U.S. Hemp Roundtable General Counsel, Jonathan Miller, issued the following statement included in Rep. Rice’s press announcement supporting aspects of the bill and thanking the sponsors for their leadership: ?
“The hemp industry is grateful to Reps. Kathleen Rice, Morgan Griffith, Angie Craig and Dan Crenshaw for their introduction of The CBD Product Safety and Standardization Act. We strongly support requiring the FDA to regulate hemp extracts like CBD as food and beverage ingredients.?
We look forward to working with the bill sponsors to ensure that this legislation provides the broadest range of protections for hemp extract products for human and animal consumption, to serve as a strong complement to HR 841, introduced by Rep. Kurt Schrader and supported by 35 co-sponsors, which would require FDA to regulate CBD in dietary supplements. We also look forward to a hearing soon in the House Energy & Commerce Committee to address these urgent issues.”?
At some point the best buys that could ever be will arrive on dirt platter. Last 1/4 had improving sales. Turn platter to bronze.... next 1/4.
Right on! Thats what I'm talking about. Pharm pills target the brain CBD targets silent pains pharma knows targets politicians with ill gotten gains knowing pills kill more people than war. CBD/Herb kills none promotes health. The worlds ever more maddening by the night or any time of day prohibition rules thin blue biden line.
It’s Not a Supply Chain Crisis — It’s a Failing Economy
The Age of Consumption is Over — And Now We’re Heading for the Greatest Collapse in Economic History
https://eand.co/its-not-a-supply-chain-crisis-it-s-a-failing-economy-b5f8aee2064c
Never know what tomorrow may bring. The eternal optimist keeps faith in truth and what should be lawful by now. Only criminals have weed as far as big government knows. Millions of us criminals go about our lives. We all march on Washington they may wake up and legalize or call on the dogs to build more prisons.
Somethings gonna pop could it be weasels?
Yes Dazed with prohibition yours a fitting tune for time in space in, I'd love to change the world.
Has to with cannabis stocks prospering with all dirty babies getting washed as all got thrown out the bath with the legalization delays to the delight of shorts and dismay of longs.
Dilution scare tactics is not a solution to get people to sell shares when in fact; New GOP weed approach: Feds must ‘get out of the way’ is what is in the news today!
Republicans are warming to weed.
Nearly half of Republican voters support federally decriminalizing cannabis, and GOP lawmakers are now beginning to reflect their constituents’ view by increasingly supporting broad legalization at the state and federal level.
“We need the federal government just to get out of the way,” said Rep. Nancy Mace (R-S.C.), who introduced the first Republican bill in Congress to decriminalize marijuana this past week and pointed to more than 70 percent of Americans supporting the idea.
Stronger Republican involvement could hasten a snowball effect on Capitol Hill, where Democrats lead the charge on decriminalization but lack results. It could also chip away at Democrats’ ability to use cannabis legalization to excite progressives and younger voters as the midterms approach.
“When the culture becomes more accepting of something, even the most resistant groups get tugged along,” said Dan Judy, vice president of North Star Opinion Research, which focuses on Republican politics. “I don't want to directly conflate marijuana legalization with something like gay marriage, but I think there's a similar dynamic at play.”
https://news.yahoo.com/democrats-arent-alone-cannabis-game-120017663.html
Where did ya all go????? Double bottom officially in no gap to fill but the one up above a fin.
Be great to cover < a buck. Bad luck to all those gleefully concerned.
Fake news/wrong answer. PPS is down as per Naked Shorts betting on prohibition continuing as per Prohibitionist in Chief Biden.
Ah thank you. Never concerned myself with micro view of price movement reasons. Politics the main driver of all that. Take the macro and the long view in that shorts have ruled the last two years. Been buying on weakness whenever last buy point has been breeched with a good new low averaging down. GLA
Was just thinking double bottom is close at hand if gets there with tax selling. No doubt longs are watching to average down even more. Optimists look at this opportunity smiling. Spider from Mars will get back there via stardust, ask Ziggie.
Where is the big sell off? Hahahahahahaa thats all there is folks! Lots of people want more shares sub two ducks as per the tape does not lie like bugs hiding from numerous short futile subsequent raids.......................................
On a side not this board is to discus charlottes Web only. Other company tickers are out of bounds.
President Roosevelt’s 1937 Marijuana Tax Act was driven by overt racism, as newspapers proclaimed that “this stuff makes white women and black men have sex. Yet marijuana was listed as a legal medicine in the United States until 1942.
Attorney General John Mitchell declared marijuana a Schedule I drug under the 1970 Controlled Substances Act, fueled by President Nixon’s eagerness to prosecute the antiwar left and black males. Nixon’s own Shafer Commission had declared cannabis as safe as alcohol, but the Schedule I listing declared it a drug with no medical value and a high potential for abuse.
The DEA overruled an unscheduling recommendation by Francis Young, a DEA administrative law judge, who had declared that, “Marijuana, in its natural form, is one of the safest therapeutically active substances known to man.” Four other petitions also bit the dust.
According to the Drug Policy Alliance, the DEA still justifies the Schedule I listing on the lack of research and continues to bar private laboratories from engaging in scientific research into its beneficial qualities. Their intransigence is baffling to state lawmakers, physicians, and citizens as well as to foreign researchers, who have demonstrated multiple beneficial uses for cannabinoids.
The latest Gallup Poll shows overwhelming public support for full legalization or decriminalization (removing the Schedule I stigma). Meanwhile, opioids, which are under Schedule I, killed nearly 50,000 Americans in 2019, up from just 21,000 in 2010. Virtually no one dies from using cannabis, yet federal action has not been forthcoming, most recently because of President Biden’s lifelong opposition to legalization.
https://www.ibtimes.com/marijuana-news-cannabis-freedom-stalled-washington-dc-3337389
Thats what I believe. Also believe no humane human should make laws humans cannot have any of Gods plants superseding all the Gods that be worldwide.
Monday the Republican lady will speak about her Bill to Legalize. This should spray Mace right in the face all prohibitionists.
A Republican bill to legalize marijuana at the federal level in the Unites States, expected to be unveiled soon, would have a lighter regulatory touch, lower taxes and fewer provisions to help minorities compared to prior legislative efforts, two people who have seen the draft legislation said.
South Carolina Rep. Nancy Mace has been reported to be leading the draft. Mace, who has declined to comment when asked about the initiative, has a news conference scheduled for Monday about the proposal.
Her legislation follows a bill from Democrat and Senate Majority Leader Chuck Schumer, the Cannabis Administration & Opportunity Act, which hasn’t gained traction.
Those who have seen Mace’s draft say it would regulate cannabis more like alcohol. This would be a lighter touch than the more rigorous oversight called for in Schumer’s bill, which critics said would make pot akin to pharmaceutical drugs or tobacco by putting the U.S. Food and Drug Administration in charge of overseeing health and safety issues. The draft, which was also seen by Bloomberg News, has not been finalized and some details still could change.
“It would largely delegate regulatory powers to the existing state governments,” said Brady Cobb, a board member of Captor Capital, an Irvine, California-based operator of dispensaries, who saw the draft. Cobb, the former chief executive officer of Bluma Wellness, is also a lobbyist in Washington pushing for cannabis reform.
Mace’s proposed excise tax is 3.75%, according to Cobb — a fraction of the 25.5% Schumer’s legislation would put on marijuana products. Detractors have said the higher tax would make legal cannabis too expensive to compete with products sold on the illicit market and cause problems like those seen in California. There, a so-called legacy market persists alongside licensed and taxed marijuana.
Mace’s bill would let state governments regulate the health and safety of cannabis products and put the Alcohol and Tobacco Tax and Trade Bureau — an agency under the Department of the Treasury that collects excise taxes — in charge of federal regulation instead of the FDA.
“The FDA would have had the ability to come in and slow things down,” said Cobb, who said he sees Mace’s legislation as a tighter bill. He added it’s “a common-sense middle ground” between Schumer’s measure, which he called “very aspirational,” and a more conservative previous effort that would have basically left legalization up to individual states.
Another person who has seen Mace’s draft, but asked not to be identified due to the private nature of exchanges over the yet-to-be-unveiled legislation, said it gives oversight to the Alcohol and Tobacco Tax and Trade Bureau, known as the TTB.
That measure is more likely to result in smaller, craft-style brands. That’s because oversight by the FDA could leave power concentrated with bigger companies that could afford to deal with more layers of regulatory compliance.
The other major difference with Schumer’s proposal is that Mace’s is lighter on so-called social-equity provisions, which are meant to repair harm from the war on drugs by promoting minority participation. Mace’s legislation lacks a fund that would be designed to financially support minorities like the one in Schumer’s proposal.
Cobb said the bill’s logic is that most of the drug arrests were done at the state level. It does offer the opportunity for nonviolent offenders to re-enter society.
Marijuana stocks, which had been beaten down this year largely due to the industry’s stalled political prospects, have rallied all week on anticipation of Mace’s legislation. Since Republicans have largely been the strongest holdouts in the Senate, investors see Mace’s bill as having the potential to make quicker headway.
https://www.register-herald.com/cnhi_network/republicans-cannabis-bill-to-propose-lower-taxes-and-state-control/article_e1fc684c-44da-11ec-b045-1f0b5809e365.html
Heck yeah just got back in pocket and see results. Been a great week coming off the buck fifty last week. With earnings Monday and bunches of legalization political catalysts going into 2022....... Who knows where will be trading at >9 months from now.
Biden’s FDA Pick Prescribed Cannabinoid Medicine And Recognized Marijuana’s Therapeutic Potential Published 10 mins ago on November 12, 2021
President Joe Biden announced on Friday that he intends to nominate a new Food and Drug Administration (FDA) commissioner who has acknowledged the potential medical benefits of marijuana and says he actually prescribed a cannabinoid drug as a doctor.
Robert Califf, who previously served a short stint as the FDA head under the Obama administration, hasn’t been especially vocal about marijuana issues. But at a 2016 federally hosted research summit on cannabis, he recognized various therapeutic applications for the plant and its components and emphasized that the agency is interested in promoting research and development.
“We understand that people have identified a number of possible uses of marijuana and marijuana-derived products. For example, AIDS wasting, epilepsy, neuropathic pain, treatment of spasticity associated with multiple sclerosis, cancer and chemotherapy-induced nausea,” Califf said. “And I had the chance to prescribe some of this in my cardiology practice in people with extreme heart failure who get a wasting cachectic syndrome.”
Notably, he also said that while FDA had yet to find that botanical marijuana is “safe and effective for any indication,” that’s not to say there aren’t any good uses for it, and additional studies could shed light on the situation.
FDA’s position on cannabis is “not because we’ve had a ton of applications to look at,” he pointed out. “It’s because we haven’t gotten them into the pathway,” Califf said. “What this means is that no one has demonstrated to FDA that any such product is safe or effective for the treatment of any disease or condition. To change that we need studies conducted using marijuana to rigorously assess the safety and effectiveness of marijuana for medical use.”
“Then we need to get those studies submitted to FDA and a marketing application for review under the legal standard set out in the federal Drug and Cosmetic Act,” he said. “This assures that the drug product meets the statutory standards for approval.”
“This is what we really want and we actively encourage it and want to work with people to make this happen,” he added. “To do this, we know we need to facilitate the work of companies interested in appropriately bringing safe, effective and quality products to market, including scientifically based research concerning these medicinal uses.”
“We believe this process, which includes collaboration with other federal and state agencies, researchers and manufacturers working on issues related to the use of cannabidiol and other constituents of marijuana in the U.S. remains the best way to identify new treatments that are safe and effective for patients and to protect patients from products that are not what they purport to be.”
At the summit, Califf also noted that FDA has approved synthetic cannabis products like Marinol for the treatment of anorexia associated with AIDS and nausea related to chemotherapy treatment.
The approval of these substances “supports the point I made earlier that our decisions on the approval of any medicine relies on the science to determine the safety and effectiveness of new medicines. And it’s also consistent with the approach we’ll continue to take going forward in this area,” he said.
Overall, the remarks suggest that, if confirmed, it doesn’t seem that Califf wouldn’t be hostile toward attempts to explore the therapeutic potential of cannabis. But he does seem to defer to statutory processes within FDA that favor pharmaceutical approaches to these medicines that have so far kept marijuana in a tightly regulated drug category.
Separately, some vaping stakeholders have raised concerns about the prospective nominee, pointing to a 2019 op-ed he authored that advocated for a ban on flavored vape products as a way to mitigate the risks of the e-cigarette or vaping use-associated lung injury (EVALI) crisis.
“I believe that we should move to enact strict regulation to limit the harm done by vaping products, augmented by an aggressive public education program that is particularly aimed at vulnerable young people, but not excluding adults,” Califf wrote at the time.
However, he acknowledged that an “outright prohibition of vaping products seems impracticable on several grounds,” adding that the “regime of legal prohibition also dissuades people from seeking help with addiction for fear of stigma that might negatively affect future employment and social mobility.”
If Califf does become commissioner, he’ll have his work cut out for him on the cannabis front.
For example, industry stakeholders are eagerly awaiting action by the FDA to allow CBD to be marketed as a food item or dietary supplement. The agency has said that it is exploring regulatory pathways to allow for such cannabidiol commerce, but bipartisan lawmakers have introduced legislation this session to force a change.
FDA was mandated under appropriations legislation enacted in 2019 to provide an update on its regulatory approach to CBD, and it did so in March of last year. The update stated that “FDA is currently evaluating issuance of a risk-based enforcement policy that would provide greater transparency and clarity regarding factors FDA intends to take into account in prioritizing enforcement decisions.”
Another issue that FDA is focusing on concerns delta-8 THC products that are made through a synthetic process using hemp-derived CBD. The agency issued warnings to consumers about the potential risks of the cannabinoid in September.
FDA also recently announced that it plans to use Reddit and other “novel” data sources to gain a better understanding of public health issues surrounding use of CBD and other “emerging” marijuana derivatives like delta-8 THC.
With respect to broader marijuana policy, FDA would play a critical role in any moves to reschedule or deschedule cannabis. If a scheduling petition is accepted, the agency would need to assess the scientific, medical and public health implications before submitting that review to the Justice Department with its recommendations.
FDA Acting Commissioner Janet Woodcock, meanwhile, frustrated advocates earlier this year after dodging a congressman’s question about whether marijuana is more harmful than tobacco.
https://www.marijuanamoment.net/bidens-fda-pick-prescribed-cannabinoid-medicine-and-recognized-marijuanas-therapeutic-potential/
Fake news! Go read financials again.... While there read where ownership and insiders institutions and mutual funds have been net buyers of stock this 1/4 compared to last. Individual people are selling while big fellas been buying.
Standby for flying spiders like the Monkeys in The Wizard of Oz. Who is Oz? Not that guy on TV says in considering running for President next go round.
Comedians, cannabis companies back legalization push.
Perhaps this veterans day as vets get handcuffed same day people feel bad disabled vets will get locked up in Texas and other states this Veterans Day as a way to frick the retired troops so Hollywood type and weed company people can enjoy their freedom as free people in America.
https://www.mercurynews.com/2021/11/09/comedians-cannabis-companies-back-legalization-push/
Thats a great buy right in there not mattering was not at low, close enough is what ya did. What matters is average cost. Am happy to report 3.04 ave now. Now for some get a move on action being fully positioned. We revisit bottom cause earnings get a sell off will lower average again.
Crummy cbd stock no more once this republican bill flies which it will in spite of Prohibitionist in Chief and in spite of all the Dems talking crack about legalization getting nowhere eleven months in. Republicans are going to own this important spot in history. Or the race is on! Scramble is the word of the day from here out. Come on Shoe mer.
Option to acquire affectionately known Stoner Bros with federal legalization will have all of us rolling the best flower by the most trusted company in the world on the shorts dime provided for by the Spider Brothers. Web will be cast.
Heard that all good well run companies go on take out old highs. Deanie will do this. Rah Rah Rah!
Good news! Lets see a battle between the two get heated Biden shaking in his boots at the prospect of Americans demanding their weedies when hates on all of it loving his beer.
Investors sour on cannabis after Democrats fail to help industry
Plummeting stock prices and lack of federal action has soured investors
The marijuana industry is in a deep financial funk.
Stock prices have plummeted roughly 45 percent since mid-February, according to the AdvisorShares Pure U.S. Cannabis ETF, a popular gauge of the sector. Over the same time period, the broader S&P 500 is up about 20 percent.
One big reason for the financial doldrums is that Congress and the Biden administration have done nothing to ease marijuana restrictions, despite Democrats being in complete control of the federal government.
The latest blow: JPMorgan Chase’s decision to stop accepting some cannabis trades from brokerage clients, as first reported by Reuters on Tuesday. That comes on the heels of Credit Suisse Group making a similar announcement.
“The banks are seeing the same thing that I'm seeing, that there is no cannabis legalization coming in the next six to 12 months,” said Marc Adesso, an attorney with Saul Ewing Arnstein & Lehr who works on major cannabis industry deals.
It all adds up to a remarkable reversal from the start of the year, when optimism soared in the cannabis industry after Democrats won control of the Senate. Investors flooded into the industry. Cannabis behemoths raised billions in capital to bankroll expansion plans. Stock prices soared.
But Democrats haven’t passed any legislation in the ensuing 10 months — and the prospects for that changing anytime soon look remote.
The biggest immediate ask from industry is to pass legislation that would make it easier for cannabis companies to access banking services and raise capital.
“The banks are conservative beasts,” Paxhia noted. “We're not asking for the moon here.”
The SAFE Banking Act has twice passed the House with big bipartisan majorities. But it’s gone nowhere in the Senate. And key Democratic lawmakers — including Senate Majority Leader Chuck Schumer and Sen. Cory Booker of New Jersey — have been adamant that they don’t think banking legislation should be enacted unless it’s paired with much broader changes to federal cannabis policy.
But a far-reaching cannabis legalization blueprint floated by Schumer, Booker and Sen. Ron Wyden (D-Ore.) over the summer hasn’t been introduced as a formal piece of legislation. Even if that changes, the odds of getting all 50 Democrats behind the plan — let alone the 60 senators needed to break a filibuster — are exceedingly slim.
“It was so pie in the sky,” Adesso said. “That wasn’t gonna pass.”
The cannabis sales boom that occurred as Americans hunkered down to ride out the pandemic has also faded. In California, legal cannabis sales peaked at over $350 million in April of this year before declining for five straight months, with September sales falling below $300 million, according to cannabis analytics firm BDSA. Similarly, sales in Colorado topped $225 million in July of last year but have since slumped, with revenues of just over $190 million in September.
Despite the grim market indicators, the long-term projections for the cannabis industry continue to look bright. U.S. revenues hit $20 billion in 2020 — a jump of nearly 50 percent, according to New Frontier Data. Sales are expected to top $40 billion by 2025, driven by big new markets slated to come online in New York, New Jersey and Virginia.
Long-time investors like Paxhia aren’t exactly panicking.
“I have 99 percent of my net worth in this industry, and I'm not concerned where we are today,” he said. “There are a few of us that are really thinking about this as a 20-year horizon.”
https://www.politico.com/news/2021/11/06/cannabis-industry-investours-sour-519742
Good one JD! And based on posted facts provided for by some of the best here.
Took two swings buying more near lows then see the run at close. Am rubbing nothing in, been averaging down like a father. Hope 1.51 is low of all lows.....
BOUGHT CHARLOTTES WEB HOLDINGS INC COM NPV 1.5870
BOUGHT CHARLOTTES WEB HOLDINGS INC COM NPV 1.5552
Fresh news for ya good buddy apparently we went up at the close due to; Republican-Led Bill To Legalize And Tax Marijuana Emerges As Alternative To Democratic Measures.
https://www.marijuanamoment.net/republican-led-bill-to-legalize-and-tax-marijuana-emerges-as-alternative-to-democratic-measures/
A new Republican-led congressional marijuana legalization bill is imminent, Marijuana Moment has learned. The measure is being framed by advocates as a compromise between simple descheduling as proposed by other GOP lawmakers and wide-ranging comprehensive legislation that Democratic leaders are championing.
Marijuana Moment obtained text of the draft legislation, which is being led by Rep. Nancy Mace (R-SC). The measure, titled the States Reform Act, is currently being circulated among stakeholders for feedback and is therefore preliminary, but a final version is expected to be officially filed later this month.
This is yet another development in what’s proved to be an active year cannabis reform on Capitol Hill. But the GOP angle is notable, as many have raised doubts about the prospects of Congress passing the far-reaching, large-scale marijuana bills that Democrats are leading in the House and Senate. Getting Republican buy in could prove critical to getting something over the finish line, and the Mace measure seems aimed at appealing to the states’ rights and business interests of conservative colleagues on her side of the aisle while also incorporating some restorative justice and tax elements largely favored by progressives.
The freshman congresswoman, who was the sole GOP vote in favor of a cannabis research bill for veterans during a committee markup on Thursday, is aiming to federally deschedule marijuana and create a regulatory scheme—but still ensure that existing state markets are not unduly burdened or undermined by new rules.
Here’s a rundown of the details based on the draft legislation and summary documents obtained by Marijuana Moment:
-Cannabis would be federally descheduled and treated in a manner similar to alcohol.
-A 3.75 percent excise tax would be imposed on cannabis sales. Revenue would support grant programs for community reentry, law enforcement and Small Business Administration (SBA) aid for newly licensed businesses.
-The Treasury Department’s Alcohol and Tobacco Tax and Trade Bureau (TTB) would be the chief regulator for marijuana with respect to interstate commerce.
-The Food and Drug Administration (FDA) would be limited in its regulatory authority, with the intent being that it would have no more control over cannabis than it does for alcohol except when it comes to medical cannabis. The agency could prescribe serving sizes, certify designated state medical cannabis products and approve and regulate pharmaceuticals derived from marijuana, but could not ban the use of cannabis or its derivates in non-drug applications, like in designated state medical cannabis products, dietary supplements, foods, beverages, non-drug topicals or cosmetics.
-Raw cannabis would be considered an agricultural commodity regulated by the U.S. Department of Agriculture (USDA).
-The legislation would grandfather existing state-licensed cannabis operators into the federal scheme to ensure continued patient access and incentivize participation in the legal market.
-As federal agencies work to promulgate rules, there would be safe harbor provisions to protect patients and marijuana businesses acting in compliance with existing state laws.
-People with certain federal cannabis convictions that were non-violent would be eligible for expungements.
-To prevent youth use, there would be a mandatory 21 age limit for recreational cannabis, and the bill also prescribes certain restrictions on things like advertising.
-SBA would need to treat marijuana businesses the same as other regulated markets, like it does for alcohol companies, for example.
-The measure also stipulates that veterans can’t face discrimination in federal hiring due to cannabis use, and doctors with the U.S. Department of Veterans Affairs (VA) would be specifically authorized to issue recommendations for medical cannabis for veterans.
-Federal agencies could continue to drug test for marijuana.
-The Bureau of Labor Statistics (BLS) would be required to issue a report to Congress on the marijuana industry.
The draft bill is 116 pages, so these details represent just a portion of what’s comprised in the legislation. And again, the provisions are subject to change as the proposal is finalized ahead of its formal introduction in Congress.
—
Marijuana Moment is already tracking more than 1,200 cannabis, psychedelics and drug policy bills in state legislatures and Congress this year. Patreon supporters pledging at least $25/month get access to our interactive maps, charts and hearing calendar so they don’t miss any developments.
Redundant "rubbing it in" commentary of whats well known serves what purpose?
Glad bought more shares yesterday bringing long average down so low need a umbrella keep the ant spit off me soon it will be shorts doing the averaging up all the way to infinity weed gets legalized by dictators in charge.
Nice run into the close today. Monday after Monday after the Monday after that where will the share price be? Above two or under? I say above.
Very observant elementary commentary will surely result in more towels thrown this tax loss selling season. Is this spiral clockwise or counter so know when to average down or average up this life or death struggle of the web.
Pills mills do not like this news. Will give even more money towards prohibitionists goals to keep status quo.
https://www.frontiersin.org/articles/10.3389/fpsyt.2021.729800/full
Antidepressant and Anxiolytic Effects of Medicinal Cannabis Use in an Observational Trial.
Background: Anxiety and depressive disorders are highly prevalent. Patients are increasingly using medicinal cannabis products to treat these disorders, but little is known about the effects of medicinal cannabis use on symptoms of anxiety and depression. The aim of the present observational study was to assess general health in medicinal cannabis users and non-using controls with anxiety and/or depression.
Methods: Participants (368 Cannabis Users; 170 Controls) completed an online survey assessing anxiety and depressive symptoms, cannabis product use, sleep, quality of life, and comorbid chronic pain. Participants that completed this baseline survey were then invited to complete additional follow-up surveys at 3-month intervals. Baseline differences between Cannabis Users and Controls were assessed using independent-samples t-tests and generalized linear mixed effects models were used to assess the impact of initiating cannabis product use, sustained use, or discontinuation of use on anxiety and depressive symptoms at follow-up.
Results: Medicinal cannabis use was associated with lower self-reported depression, but not anxiety, at baseline. Medicinal cannabis users also reported superior sleep, quality of life, and less pain on average. Initiation of medicinal cannabis during the follow-up period was associated with significantly decreased anxiety and depressive symptoms, an effect that was not observed in Controls that never initiated cannabis use.
Conclusions: Medicinal cannabis use may reduce anxiety and depressive symptoms in clinically anxious and depressed populations. Future placebo-controlled studies are necessary to replicate these findings and to determine the route of administration, dose, and product formulation characteristics to optimize clinical outcomes.
Introduction
Anxiety and depressive disorders are highly prevalent (1), recurrent (2, 3), and can have a substantial negative impact on quality of life (4). Outcomes are worsened in the likely incidence of comorbidity (5–7), and both depression and comorbid anxiety/depression are associated with increased risk of mortality (8), particularly in people with co-occurring chronic physical illnesses (9). Yet, treatment is often not pursued despite the availability of multiple treatment options (6, 10–13).
Several pharmacotherapeutic interventions show efficacy in the treatment of anxiety and depression (14, 15). However, many patients are skeptical about the use of medication (16, 17), and antidepressants, the most frequently prescribed of these medications (18, 19), are not without contraindications. Adverse events are fairly common across antidepressant drug classes, and can disincentivize initiation and contribute to discontinuation of pharmacotherapy (14, 20–24). Further, although antidepressants are demonstrably superior to placebo at alleviating symptoms of both anxiety and depression, effect sizes are small (14, 25), and, thus, may not always be perceptible at the patient level. Finally, discontinuation of antidepressant treatment after sustained use is associated with a withdrawal syndrome in most patients that ranges in severity and can last for several months (26). Taken together, even though there is clear evidence of efficacy for antidepressants at the population level, perceived variability in cost-benefit ratio at the patient level means many people with anxiety or depression are interested in alternative options.
In this vein, an increasing number of people struggling with anxiety and/or depression are trying cannabis products for symptom management (27–29). Cannabis products can generally be separated into three “chemotypes” based on the predominant chemical constituents: (1) ?9-tetrahydrocannabinol (THC) dominant products, (2) cannabidiol (CBD) dominant products, and (3) products that contain roughly equal amounts of both THC and CBD. Published studies on the impact of cannabis use on anxiety and depression have shown mixed results, and often vary based on the chemotype of the product under investigation and the duration of the dosing regimen. For example, the two studies in which THC was acutely administered to people with clinical anxiety showed limited evidence of anxiolysis (30, 31), but chronic nabilone (oral synthetic THC analog) administration over 4 weeks was associated with a significant reduction in anxiety in a placebo-controlled trial (32). Differential effects of cannabinoid type 1 receptor (CB1R) agonists, like THC, observed in long-term vs. acute dosing studies may be a product of increased CB1R binding on cortical glutamatergic neurons due to CB1R downregulation on GABAergic terminals (33, 34); a similar mechanism is implicated in the dose-dependent effects of acute THC exposure on anxiety (33). Neuroplasticity following extended exposure may also explain anxiogenesis frequently reported in cannabis withdrawal (35).
Effects of THC treatment on depression also appear mixed, though no clinical trials have been conducted to examine a direct effect of THC on depressive symptoms. Epidemiological studies suggest that non-medicinal (“recreational”) use of cannabis, which is typically THC-dominant, may be associated with increased risk of developing a depressive disorder (36) and greater depressive symptom severity (37), an association not observed for anxiety disorders (38). Rather than being causative, however, non-medicinal cannabis use may instead represent an attempt at self-medication during a prodromal period. Indeed, the CB1R agonist activity of THC mimics endogenous cannabinoid signaling, which is notably downregulated in women with clinical depression (39), and endogenous cannabinoids appear to regulate neural serotonergic signaling (40). THC itself can produce feelings of euphoria (41), and clinical trials of a CB1R antagonist were discontinued following reported increases in depression and suicidality (42). However, THC has shown no evidence of antidepressant efficacy when assessed as a secondary outcome in treatment trials for chronic pain, though self-reported depression scores in these trials were already low at baseline (43–45).
CBD, a phytocannabinoid that lacks the abuse liability of THC (46), has potential for therapeutic use in psychiatry. CBD has shown anxiolytic efficacy both acutely [(47, 48) but see (31)] and following chronic treatment in people with clinical anxiety (49). Preclinical evidence suggests that anxiolytic effects are produced via 5-HT1A receptor agonism in both acute (50–52) and chronic dosing models, without impacting 5-HT1A receptor expression (53). This lack of neural remodeling may explain why CBD discontinuation does not appear to produce a THC-like withdrawal syndrome (54). Additionally, the proposed serotonergic mechanism of CBD is distinct from that used by most common antidepressant medications, which selectively inhibit cellular reuptake of serotonin and/or norepinephrine (SSRIs, SNRIs), and is instead more comparable to the anxiolytic medication buspirone (55). Like CBD, buspirone does not appear to produce a withdrawal syndrome (56). Antidepressant effects of CBD have also been consistently demonstrated preclinically following both acute and chronic administration (57–60), though no clinical trials have yet been published. Antidepressant effects appear to be a product of the same serotonergic mechanism that drives anxiolysis (57, 58), and have been shown to synergize with other serotonergic medications (61). This again draws comparison with buspirone, which shows evidence of efficacy both as a depression monotherapy (62) or as an adjunct treatment to SSRIs (63).
Research evaluating the anxiolytic or antidepressant effects of products with a more balanced THC:CBD ratio is limited. Some studies in humans indicate that concurrent CBD/THC administration attenuates anxiogenic effects produced by THC (64, 65), but this has not been observed consistently (66, 67) and may be dose-dependent (68). This inconsistency is mirrored in the preclinical literature (69–71), making it difficult to determine a responsible mechanism given the diverse pharmacological activity of CBD (72, 73). Balanced THC:CBD products have also not been assessed for efficacy in psychiatric populations, though effects on anxiety and depression have been reported as secondary outcomes in clinical trials for other conditions. Nabiximols produced no effect on symptoms of anxiety or depression in people with multiple sclerosis (74) or in people with chronic pain due to cancer (75). Notably, both of these studies listed current psychiatric diagnosis as exclusion criteria, making it difficult to extrapolate these outcomes to people with clinical anxiety or depression.
Given these conflicting outcomes, the impact of medicinal cannabis use on anxiety and depression remains an open question. Our group previously found that medicinal cannabis users reported reduced anxiety and depression when compared to a control group that was considering, but had not yet initiated medicinal cannabis use (76). This impact of cannabis use was observed both cross-sectionally and longitudinally. However, effect sizes were only modest, and this was likely a product of the diverse array of clinical conditions represented in the sample. The purpose of the current study was to extend prior findings by limiting our focus to only participants that reported having anxiety and/or depression. We also expand on other epidemiological work that has principally focused on the impact of non-medicinal cannabis use on symptoms of anxiety and depression by providing insight into the effects of medicinal cannabis use on these symptoms.
Materials and Methods
Study Design
The analyses herein represent a subsample of participants that were enrolled in the parent study between April 2016 and July 2020 (76). Briefly, the parent study was a collaboration between Johns Hopkins University School of Medicine (Baltimore, MD) and the Realm of Caring Foundation (Colorado Springs, CO), and comprised a series of online surveys (Qualtrics, Provo, UT). Participants were recruited from the Realm of Caring patient registry and via social media advertisements. Those interested in participating were provided with a unique identification number, a study overview, and instructions for survey completion. Those interested in enrolling provided informed consent before beginning the baseline survey. Upon completion of the baseline survey, participants were invited to complete additional follow-up surveys at 3-month intervals. Compensation for completing each survey was entry into a monthly drawing for a $50 gift card. All procedures were approved by the Johns Hopkins IRB.
Participants
Study participants were people that completed the baseline survey and reported having anxiety and/or depression (n = 538). Participants were included if they were at least 18 years old and endorsed having major depressive disorder, postpartum depression, dysthymia, premenstrual dysphoric disorder, seasonal affective disorder, generalized anxiety disorder, panic disorder, social anxiety disorder, and/or agoraphobia. Participants that did not list a specific disorder and instead only endorsed “anxiety” or “depression” were also included. Of this sample, n = 368 participants reported current use of medicinal cannabis products at baseline (“Cannabis Users”), and n = 170 were considering the use of medicinal cannabis, but had not yet initiated use (“Controls”). Follow-up assessments were offered every 3 months after enrollment until the study closed in July 2020, and participants could complete as many as desired. Of the participants that completed the baseline survey, n = 211 completed at least one follow-up assessment (n = 145 Cannabis Users; n = 66 Controls), and the average number of completed assessments for these participants was 2.2 (median = 1). Follow-up assessments were recorded at an average of 14 months (SD = 9) post-baseline, and the longest follow-up occurred 44 months after baseline. All follow-up assessments completed were included in longitudinal analyses.
Outcome Measures
Surveys included validated self-report questionnaires and investigator-developed measures of health outcomes. Participants self-reported demographic information and any current medical condition(s). Medicinal cannabis use was evaluated using both multiple choice and free-response items pertaining to current use of medicinal cannabis, cannabis product type (e.g., dried flower, hemp extract oil), chemotype (e.g., THC-dominant, CBD-dominant, and balanced THC:CBD ratio), product dosing regimen, and product route of administration. Information pertaining to current use of prescription medication(s) was also collected.
Current symptoms of depression and anxiety were evaluated using the Hospital Anxiety and Depression Scale (HADS) (77), in which a score ≥ 8 on either subscale indicates clinical concern. The abbreviated version of the World Health Organization Quality of Life assessment (WHOQOL-BREF) was used to assess perceived quality of life, health satisfaction, and mood (78). Sleep was assessed using the Pittsburgh Sleep Quality Index (PSQI) (79), as sleep dysfunction is a symptom of both anxiety and depressive disorders (80). Consistent with epidemiological reports (81), chronic pain disorders were highly prevalent in this sample. Thus, recent pain was also assessed using the Numeric Pain Rating Scale (NPRS) (82). The free-response question “How has the therapeutic use of cannabis/cannabinoids harmed the participant?” provided participants with the opportunity to disclose any adverse effects of cannabis use.
Analyses
Descriptive statistics were used to summarize participant demographics, cannabis use patterns, and qualitative effects of cannabis use. Demographic differences by cannabis use were evaluated using independent samples t-tests (continuous measures) or Fisher's exact test (dichotomous measures). Independent-samples t-tests were used to assess baseline differences between Cannabis Users and Controls on the depression and anxiety subscales of the HADS, overall sleep quality score on the PSQI, past-month average and worst pain on the NPRS, and components of the WHOQOL-BREF. Independent-samples t-tests were used for these baseline, cross-sectional analyses given the comparison of two independent groups (Cannabis User vs. Control). Logistic regression was used to compare baseline group differences in possible clinical cases based on the HADS anxiety and depression cutoff scores (≥8). Additional 2-way ANOVAs were conducted for anxiety and depression scores evaluating interactions between cannabis product use and participant gender, cannabis product use and concomitant use of serotonergic medications, and cannabis product use and psychiatric subtype (Anxiety Only, Depression Only, or Both). As many participants reported use of multiple cannabis product chemotypes, chemotype differences were evaluated using independent-samples t-tests comparing (1) Cannabis Users who did vs. did not use CBD-dominant products and (2) did vs. did not use THC-dominant products. Baseline associations between HADS depression and anxiety scores with past-month average pain on the NPRS were assessed using Pearson correlations.
For longitudinal data, generalized linear mixed effect models were used to evaluate changes over time in HADS subscale scores and the Psychological domain of the WHOQOL-BREF for three groups (1) baseline Controls who initiated cannabis use (“Initiators”; n = 36), (2) baseline Controls who did not initiate cannabis use (“Non-initiators”; n = 23), and (3) baseline Cannabis Users who continued use (“Sustainers”; n = 121). Participants that either discontinued cannabis use (n = 10) or alternated between use and non-use across follow-up assessments (n = 21) were not analyzed due to small sample size and to maintain consistency in analyses, respectively. Generalized linear mixed effect models were used to account for the repeated measurement over time, inclusion of participants with missing data, and inclusion of continuous predictors. Statistical tests evaluated if changes over time differed by group (Group × Time interactions) with within-group tests conducted for significant interactions. Missing data were treated as missing at random and addressed using full-information-maximum-likelihood estimation procedures given evidence that attrition in follow-up was not significantly related to baseline anxiety or depression scores (see Discussion). All tests were conducted as two-tailed tests with an initial alpha level of 0.05. A Bonferroni correction was then used to adjust for multiple comparisons in cross-sectional analyses, setting the new alpha level for these at 0.00132 (0.05/38). Analyses were conducted in R.
Demographics
Participants were mostly female (79%), Caucasian (83%), and had a mean age of 46 years old (SD = 13) at baseline (Table 1). Participants predominantly reported having comorbid anxiety and depression (51%), followed by anxiety alone (34%), and depression alone (15%). Most participants reported having a co-occurring chronic pain disorder (69%). Just over one-third of participants reported use of serotonergic medication(s) to treat depression and/or anxiety (36%) (Table 2 details serotonergic medication and doses). Fewer Cannabis Users endorsed serotonergic medication use compared with Controls [OR = 0.49, p < 0.001]. No other differences were observed between groups (all p > 0.17).
Once the world places a value on humanity on a par with money which truly is the number one value the earth and its populace will have a chance to not go extinct with all life as its known for.
In the mean time no cannabis for you and me and the dog and cat. Pills only and alcohol and cigs. Stuff that kills every day. Use Gods plant and here is a cage. Crime against humanity it is.
The love of money with no love for the air land and water that is supposed to be here to sustain life as intended is a no show. Money does not do that in that way. Money does not buy clean water and air and land. Money pollutes it. Love for the earth and all that live here the only way to get out of here alive as if anyone does.
You served so have right to speak. Yeah man went in 1976. In 83 Reagan said piss in the bottles everybody and pop positive get the boot. Had 7 years in stopped smoking thinking keep my head on a swivel dont get killed and the government will buy me weed every month for the rest of by life which it does, take zero pills the VA wants me to I tell them use cannabis give that. They say agree but cannot change policy.
Biden is a total failure as was Reagan, Obama, Clinton, Big Bush and then the little shrub, Trump all of them regarding this. Peanut man Jimmy Carter was for legalization. Al Gore but election really was stolen from him. This is way past due talk about big Gov hating on Humans loving corporate pill mills and lets build more prisons. Follow the money, look at TV commercials all pills.
This frickin crap urks me as am effected by fresh news thats old news as prohibitionist in chief who says supports the troops say screw you disabled vets lying toothpick piece of chit thanks me for my service but wants me caged. Did 20 active... When will I become apathetic? When dead is right.
The U.S. Department of Veterans Affairs (VA) under the Biden administration says it continues to oppose a bill that would require it to conduct clinical trials into the therapeutic potential of marijuana for military veterans.
https://www.marijuanamoment.net/va-under-biden-remains-opposed-to-marijuana-research-bill-for-veterans-official-tells-house-committee/
FDA is now a pure joke of an institution with zero credibility.