Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
And did nothing about it for 4 years then left office with prohibition100% in force. Jack his jaws is all he does no action.
For banking to be legit weed had to come off of schedule 1 first. Now banking will be easy.
The "Hulk" consolidated til pissed off and weed smokers are pissed off at the Federal Government made up of a bunch of weed fearing old geezer alcoholics in charge our country cause if they were not exactly that weed would be legal like Canada and the VA would hand out killer flower to disabled vets instead of pills. Eli Lilly is bankrupt in my dreams as it is their lobby money keeps America dankrupt.
This was interesting to watch, fresh no charts look at tcnnf with some term never heard of. Nice day, nice week, nice month lets have a nice 1/4 and year and decades of growth.
Is fun people are talking in just about real time this stock and others. Pow Group is also fun, Good month we are ending Feb should be good also as politics dictate.
Fresh post TCNNF mentioned 9 minutes in or so.
One day there will be Peace On Herb all over the world.
Cgc off to the races
Trulieve highlights Alabama roots in medical cannabis licensing process https://yellowhammernews.com/trulieve-highlights-alabama-roots-in-medical-cannabis-licensing-process/
As the Alabama Medical Cannabis Commission (AMCC) navigates the crucial phase of awarding integrated facility licenses, Trulieve, a company that has put down roots in the state, says its presence in Alabama will benefit patients and the state as a whole.
The AMCC heard presentations from integrated facility applicants this week at the Alabama State House, with award announcements expected on December 12. Under the recently-passed Alabama Medical Cannabis Law, “integrated facilities” are companies permitted to handle medical cannabis from seed to sale. Trulieve says its successful experience in multiple states makes it uniquely qualified to serve Alabamians.
“Using our experience from other states where we were first to market, including Georgia, West Virginia, and Florida, we are not only ready to meet the Commission’s benchmarks for providing medical cannabis to Alabama patients: we are prepared to exceed them,” Jim Wernick, Executive Director of State Expansion at Trulieve, said.
Yes a great number! Put a 6 before the .42 will be even.
TALLAHASSEE — Arguing that a $1.33 million price tag is unjustified, a medical marijuana operator is challenging a license-renewal fee boost that came after Gov. Ron DeSantis said pot companies aren’t paying enough to conduct business in Florida.
The state Department of Health in December adopted a rule creating a formula that set the license-renewal fee for medical marijuana operators at $1.33 million every two years — more than 22 times the $60,000 biennial fee operators had been paying since the program started six years ago.
The formula is based on the number of licensed operators and the cost to regulate the medical marijuana program. But the fee does not take into account the tens of millions of dollars collected by the agency from patients and caregivers who pay $75 a year for identification cards to participate in the program.
The revised license-renewal fee is “an exponential increase” from the previous amount, lawyers for Sanctuary Cannabis, whose license is due for renewal in January, argued in a challenge filed last week.
Sanctuary’s petition for an administrative hearing relied heavily on a budget request the health department submitted to the Legislature for the 2024-2025 fiscal year, which will begin in July.
The request showed that the Department of Health collected $14.9 million in application and renewal fees for licenses and nearly $65 million from patients and caregivers during the 2022-2023 fiscal year, which ended in June. Currently, more than 854,000 patients are qualified for the program.
The agency, which also gets money from testing labs and fines, collected a total of roughly $84 million that year, anticipates collecting the same amount this year and projects receiving $114 million in 2024-2025, according to the budget request.
The agency also reported having a $16.3 million surplus during the 2022-2023 fiscal year and projected surpluses of nearly $4 million this year and $61 million in 2024-2025.
Setting the renewal-fee amount “without accounting for significant and undisputed streams of fee revenue is wholly without logic or reason,” Sanctuary’s lawyers argued in the petition filed at the state Division of Administrative Hearings.
“The petitioners (Sanctuary) take no issue with the department running a surplus or otherwise receiving any fee, fine, or cost that is necessary to support its operation. However, in light of the department’s own income and projections, the department cannot reasonably assert that this exponential renewal fee increase is necessary to keep its operations afloat,” attorneys Will Hall and Daniel Russell of the Dean Mead firm wrote in the Oct. 26 petition.
The biennial $1,332,124.42 fee “imposes inappropriately high regulatory costs” on operators, “rendering the challenged rules invalid,” the lawyers argued.
Florida voters in 2016 approved a constitutional amendment authorizing medical marijuana for a broad swath of patients. A 2017 law setting up the framework for the medical marijuana industry gave the health department the authority to set license application and renewal fees “sufficient to cover the costs of implementing and administering” the program, as well as public education and research about cannabis. https://www.tampabay.com/news/florida-politics/2023/11/03/medical-marijuana-pot-licenses-fees-surplus-desantis-sanctuary-cannabis/
Nixon made cannabis illegal with stroke of pen in one day. Biden can do same with same executive order to reverse. All our presidents and congress so far have been a bunch of drinkers. So go figure why that is. Drinkers like power. Pea tests continue for all federal workers. Only drinkers need apply to continue running my country into the ground.
NEW YORK – The twelve largest operators in the cannabis industry would save a combined total of $700 million annually if Internal Revenue Code Section 280E were eliminated, according to a new analysis.
Viridian Capital Advisors recently examined the impact on the industry if 280E were eliminated. The strategic advisory firm extrapolated its findings from the Q2 public filings of multistate operators Acreage Holdings (ACRDF), Ascend Wellness (AAWH), Ayr Wellness Inc. (AYR.A), Cresco Labs Inc. (CL), Curaleaf Holdings Inc. (CURA), Green Thumb Industries Inc. (GTII), Jushi Holdings Inc. (JUSHF), MariMed (MRMD), Planet 13 Holdings (PLTH), TerrAscend Corp. (TER), The Cannabist Co. (formerly Columbia Care; CCHW), Trulieve Cannabis Corp. (TRUL), and Verano Holdings Corp. (VRNO).
Analysts used a straightforward method to arrive at the estimated total annual tax savings. If a company showed negative pretax income, its tax expense was estimated at zero. If a company showed a positive pretax income, a combined state and federal tax rate of 28 percent was applied to its pretax income. The difference between actual and recalculated taxes totaled $700 million annually.
The analysts also put 280E’s financial weight into perspective.
If it were not subject to 280E, a business with 30-percent earnings before interest, taxes, depreciation, and amortization (EBITDA) margins; depreciation calculated with a 15-year fixed asset life; and two times debt-to-EBITDA at an average interest rate of 10 percent would see an annual tax burden of approximately 3 percent of its revenue. Because they are subject to 280E’s prohibition on business expense deductions, cannabis companies pay much higher effective tax rates. Viridian analysts calculated the effective tax rates for Ascend Wellness, MariMed, Green Thumb, and Verano at 84 percent, 192 percent, 65 percent, and 189 percent, respectively.
While the largest MSOs stand to save hundreds of millions, the elimination of 280E could be even more valuable for smaller operators struggling to compete against publicly funded competition that benefits from economies of scale and efficiency from the farm to the retail counter.
“Smaller U.S. operators will perhaps benefit even more, especially non-integrated dispensary owners who typically have the most severe impact from 280E,” said Frank Colombo, chartered financial analyst and director of data analytics at Viridian Capital Advisors. “They may also find they become more attractive acquisition targets in a post-rescheduling world when access to capital becomes easier.”
Section 280E, added to the tax code in 1982, disallows deduction of any expenses incurred “in carrying on any trade or business if such trade or business consists of trafficking in” substances on Schedule I or II of the Controlled Substances Act. In August, the Department of Health and Human Services (HHS), acting on data and scientific input from the Food and Drug Administration, recommended cannabis be moved to Schedule III. Such a reclassification would remove the 280E albatross from around the necks of cannabis businesses.
The decision now rests with U.S. Drug Enforcement Administration (DEA) Administrator Anne Milgram, a Biden appointee who assumed her position as the nation’s drug czar in 2021. President Joe Biden has indicated he supports the move, but the final decision is Milgram’s.
The timeline for the DEA’s recommendation and revelation of details within the HHS recommendation are unknown. The recommendation letter HHS sent to the DEA has not been made public.
Although fourteen Republican members of Congress have encouraged Milgram to deny the rescheduling request, it’s possible the DEA could conclude its review by year’s end, including dealing with U.S. obligations under international drug treaties. If the DEA were to agree with the Schedule III recommendation, a public comment period of up to 60 days would take place, followed by a DEA review of the public comments and a near guarantee of lawsuits that could delay implementation.
If everything moves swiftly and without any major hurdles, rescheduling and the elimination of 280E for legal cannabis operators could happen as soon as Q2 2024.
https://mgmagazine.com/cannabis-news/analysis-eliminating-280e-could-save-12-msos-700-million-annually/
CWBHF Charlottes web has room to move north as the new CEO gets going.
Opioid Settlement May Spur Cannabis as Potential New Pharmacy Revenue Stream
https://www.cannabissciencetech.com/view/opioid-settlement-may-spur-cannabis-as-potential-new-pharmacy-revenue-stream
Cannabis and Opioid Crisis Correlation
New and existing research has suggested a potential correlation between the availability of medical cannabis and a reduction in opioid-related deaths and overdoses.2 As the opioid crisis continues, some states have legalized medical cannabis as an alternative pain relief option and a possible means to address opioid abuse. The opioid settlement framework acknowledges this connection, providing an opportunity to consider cannabis as a potential pain management tool in mainstream health care.
Regulatory Changes and Legalization
The opioid settlement framework is still being adjudicated and is broken down into 3 categories: (1) substantial multi-billion dollar reparations, (2) rehabilitation coverage, and (3) devising alternative diversion plans. This paves the way for additional regulatory changes concerning cannabis.
As public opinion and popularity lean toward cannabis legalization, 68% of US adults favor legalizing marijuana.3 This settlement could encourage more states to legalize medical and/or recreational cannabis. Establishing a legal precedent may facilitate legislative advocacy for cannabis as a safer alternative to opioids for pain management.
For example, the Compassionate Care Act and similar legislation found in various states enable the legal use of cannabis for medical purposes. These laws aim to offer legal safeguards and accessibility to cannabis for individuals suffering from specific medical conditions that its therapeutic qualities can alleviate. Importantly, these legal measures typically ensure that employees who are part of state-sanctioned cannabis programs are shielded from termination due to their participation, and this aspect of the legislation is unlikely to change.
Cannabis in Big Box Pharmacies
The opioid settlement framework's financial repercussions are prompting pharmaceutical companies to explore diversification of their product lines, focusing on entering the medical cannabis market and potentially emerging as prominent suppliers. This transition is underway, particularly evident in major pharmacy chains, which have recorded nearly $1 billion in retail sales from CBD products.
When federal legalization eventually occurs, these companies may consider adding medical cannabis items to their inventories to generate new revenue streams.4 This shift could substantially impact the distribution of cannabis, potentially enhancing accessibility to the general public. However, consumers may face a significant challenge in the form of high taxation rates, which reaches up to 37% in certain states, placing a financial burden on cannabis consumers.
Mainstream Health Plans to the Rescue
The opioid settlement framework has ignited conversations about including cannabis in conventional health care plans. With increasing evidence endorsing the therapeutic advantages of medical cannabis, health insurance companies are beginning to incorporate coverage for cannabis-based treatments targeting specific conditions for which efficacy is well-established. This integration can potentially lower patients' expenses, making medical cannabis a recognized and viable option for medical treatment.
Research and Development
The allocation of funds in the opioid settlement to combat addiction and support treatment centers may indirectly benefit cannabis research.5 With increased financial resources available, scientists and researchers may conduct more comprehensive studies on the medical applications, safety, and efficacy of cannabis. This research could form a more robust basis for integrating cannabis into mainstream health care plans to reduce out-of-pocket expenses for the consumer.
Public Perceptions and Education
A major challenge in integrating cannabis into mainstream health care is overcoming public skepticism and misinformation. In light of the opioid settlement framework, pharmaceutical companies may initiate public education campaigns to inform the population about the medical benefits and risks of cannabis. Such proactive efforts could foster a more informed and accepting environment for cannabis inclusion in mainstream health plans and big pharma.
Conclusion
The $50 billion opioid settlement framework marks a substantial stride in confronting the opioid crisis within the United States. Beyond its immediate implications, this settlement can potentially influence how cannabis is distributed within pharmacy chains and how it finds its place in conventional health care plans.6
As awareness of the therapeutic value of medical cannabis grows among the public and policymakers, it becomes imperative to base decisions on robust evidence to guarantee its safe and efficient integration into mainstream health care.
Opioid Settlement May Spur Cannabis as Potential New Pharmacy Revenue StreamCannabis and Opioid Crisis Correlation
https://www.cannabissciencetech.com/view/opioid-settlement-may-spur-cannabis-as-potential-new-pharmacy-revenue-stream
New and existing research has suggested a potential correlation between the availability of medical cannabis and a reduction in opioid-related deaths and overdoses.2 As the opioid crisis continues, some states have legalized medical cannabis as an alternative pain relief option and a possible means to address opioid abuse. The opioid settlement framework acknowledges this connection, providing an opportunity to consider cannabis as a potential pain management tool in mainstream health care.
Regulatory Changes and Legalization
The opioid settlement framework is still being adjudicated and is broken down into 3 categories: (1) substantial multi-billion dollar reparations, (2) rehabilitation coverage, and (3) devising alternative diversion plans. This paves the way for additional regulatory changes concerning cannabis.
As public opinion and popularity lean toward cannabis legalization, 68% of US adults favor legalizing marijuana.3 This settlement could encourage more states to legalize medical and/or recreational cannabis. Establishing a legal precedent may facilitate legislative advocacy for cannabis as a safer alternative to opioids for pain management.
For example, the Compassionate Care Act and similar legislation found in various states enable the legal use of cannabis for medical purposes. These laws aim to offer legal safeguards and accessibility to cannabis for individuals suffering from specific medical conditions that its therapeutic qualities can alleviate. Importantly, these legal measures typically ensure that employees who are part of state-sanctioned cannabis programs are shielded from termination due to their participation, and this aspect of the legislation is unlikely to change.
Cannabis in Big Box Pharmacies
The opioid settlement framework's financial repercussions are prompting pharmaceutical companies to explore diversification of their product lines, focusing on entering the medical cannabis market and potentially emerging as prominent suppliers. This transition is underway, particularly evident in major pharmacy chains, which have recorded nearly $1 billion in retail sales from CBD products.
When federal legalization eventually occurs, these companies may consider adding medical cannabis items to their inventories to generate new revenue streams.4 This shift could substantially impact the distribution of cannabis, potentially enhancing accessibility to the general public. However, consumers may face a significant challenge in the form of high taxation rates, which reaches up to 37% in certain states, placing a financial burden on cannabis consumers.
Mainstream Health Plans to the Rescue
The opioid settlement framework has ignited conversations about including cannabis in conventional health care plans. With increasing evidence endorsing the therapeutic advantages of medical cannabis, health insurance companies are beginning to incorporate coverage for cannabis-based treatments targeting specific conditions for which efficacy is well-established. This integration can potentially lower patients' expenses, making medical cannabis a recognized and viable option for medical treatment.
Research and Development
The allocation of funds in the opioid settlement to combat addiction and support treatment centers may indirectly benefit cannabis research.5 With increased financial resources available, scientists and researchers may conduct more comprehensive studies on the medical applications, safety, and efficacy of cannabis. This research could form a more robust basis for integrating cannabis into mainstream health care plans to reduce out-of-pocket expenses for the consumer.
Public Perceptions and Education
A major challenge in integrating cannabis into mainstream health care is overcoming public skepticism and misinformation. In light of the opioid settlement framework, pharmaceutical companies may initiate public education campaigns to inform the population about the medical benefits and risks of cannabis. Such proactive efforts could foster a more informed and accepting environment for cannabis inclusion in mainstream health plans and big pharma.
Conclusion
The $50 billion opioid settlement framework marks a substantial stride in confronting the opioid crisis within the United States. Beyond its immediate implications, this settlement can potentially influence how cannabis is distributed within pharmacy chains and how it finds its place in conventional health care plans.6
As awareness of the therapeutic value of medical cannabis grows among the public and policymakers, it becomes imperative to base decisions on robust evidence to guarantee its safe and efficient integration into mainstream health care.
Bought more on this change of the guard news. New brooms sweep clean.
Colorado Gov. Jared Polis recently sent a letter to President Joe Biden on Sept. 5 regarding the U.S. Department of Health and Human Services’ (HHS) recommendation for the Drug Enforcement Administration (DEA) to reschedule cannabis from a Schedule I substance to a Schedule III substance.
According to The Gazette, Polis’ letter addressed this recommendation, and applauded Biden on leading an administration toward progress. “We are pleased to hear that you have recently received Health and Human Services’s (HHS) recommendation to move cannabis to Schedule III,” Polis began in his letter. “It’s about time.”
“This is an historic moment and we owe you and your administration a debt of gratitude for your leadership on catching up with where the science is,” Polis continued. “Cannabis’ current classification under federal law as a Schedule I drug is contradicted by the scientific evidence. The notion, as previously considered, that cannabis has no accepted medical use, a high potential for abuse, and no accepted safety standards even under medical supervision has been widely disproven, HHS’s recommendation is evidence-based and a move in the right direction.”
He continues that he offers his “enthusiastic support” while the country waits for the DEA to respond, but in the meantime, urges the president to begin thinking about what else needs to be done to make moving cannabis to Schedule III ideal for cannabis businesses. “I ask you to simultaneously consider a few next steps in the near future by showing your support for access to banking for the state-regulated marketplace, reduced criminal penalties for possession and distribution of cannabis, addressing immigration-related consequences and enforcement discretion from FDA,” Polis wrote.
Polis also addresses the issues that still need to be resolved, such as banking. He wrote that if cannabis becomes a Schedule III substance, banks would be free to serve cannabis businesses and that tax code 280E would no longer be necessary. “The most efficient way to address these public health risks is to displace the illicit marketplace and replace it with a legal, safe, regulated, and age-verified system,” Polis continued. “But we can only do that by promoting federal policies that allow for profitability in these well-established state-regulated marketplaces. That equates to [Internal Revenue Code] Section 280E reform and access to traditional banking services.”
Polis noted that rescheduling cannabis will become a hallmark accomplishment of Biden’s term as president. “Your administration will soon be credited with saving hundreds of thousands of jobs and significant tax revenue for the states when DEA solidifies FDA’s recommendation,” Polis writes. “While federal prohibition continues, more than three-fourths of the states have legalized medicinal marijuana, and more than 20 have legalized marijuana for adult use.”
“Let’s celebrate this progress and work together to finish the job,” his letter to Biden concluded. “We greatly appreciate your leadership, and please come visit Colorado again soon.”
Safe is supposed to happen this year, this frees up the recommended move in 24 to sch 3, with banking already established this will be a no brainer..
"that’s fine but this is not going to happen overnight, nor IMO anytime soon," I differ without begging! this concern after ten years of wanting safe banking is going to happen along with Fl getting to vote on legalizing. All very soon. Positioning is happening now. Why sell into that? Cause the RSI is getting to close to the point momentum players jump in? Not smart but take profits as ya see day trading.
Here is a fresh Dales report with the ceo in concern of news currently watching posted one hour ago.
CGC has old news relevant today, Canopy USA
Creating a new, U.S. holding company structure called Canopy USA, LLC (“Canopy USA”) and assigning ownership of all Canopy Growth’s U.S. cannabis investments to Canopy USA.
Canopy USA will hold Canopy Growth’s U.S. cannabis investments which will enable it to exercise rights to acquire Acreage, Jetty, and Wana.
Holding a shareholder meeting to approve the creation of a new class of exchangeable shares in the capital of Canopy Growth.
Capitalizing on a once-in-a-generation market opportunity:
Fast tracking entry into the world’s largest and fastest growing cannabis market – estimated by MJBiz to be over $50B by 2026[1].
Establishing an industry-leading, premium-focused U.S. brand powerhouse.
Consolidating U.S. financial results to better highlight the value of these assets for investors moving forward,
Expect compelling financial benefits, including the ability to drive revenue growth, and realize cost synergies
Advancing a strategic vision as a leading premium-branded cannabis company in North America:
Canopy USA will have a presence in 21 states and access to consumers through more than 2,150[2] third-party retail distribution points.
Canopy USA also intends to relentlessly pursue revenue and cost synergies across its U.S. ecosystem and collaborate across the industry including with MSOs to seed Canopy USA’s leading brand portfolio for national expansion.
Information on this website is published as of October 25, 2022
https://www.canopygrowth.com/investors/canopyusa/
It would also change how cannabis businesses are taxed, according to Kim Rivers, chief executive officer of Trulieve, a cannabis company with 186 US retail locations and 4 million square feet of cultivation and production facilities. She said that such a change would have saved the company $137 million last year, reducing its tax rate from 24% of gross profit to 4%.
It’s “a historic step forward,” Rivers said.
6 bucks, 7.8. is; No where near where momo players will jump in. Momo's wait till way overbought sending shorts into frenzies as rockets higher with more covering throwing in hats to boot. RSI stays 99 for one of these many days boy gonna find my what?
Momentum players are momo. They jump in when relative strength "rsi" is above 80 or so riding momentum to rsi of 99 then selling when momo drops off. Momo players buy over bought stocks riding those waves.
It would also change how cannabis businesses are taxed, according to Kim Rivers, chief executive officer of Trulieve, a cannabis company with 186 US retail locations and 4 million square feet of cultivation and production facilities. She said that such a change would have saved the company $137 million last year, reducing its tax rate from 24% of gross profit to 4%.
It’s “a historic step forward,” Rivers said.
Zachary Kobrin, an attorney who specializes in cannabis at Akerman, agreed that moving cannabis to Schedule III would bolster companies’ results. He referred to the federal tax code known as section 280E, which prevents companies that sell an illegal substance from taking tax deductions, as “one of the most negatively impactful policies” on the industry.
“Cannabis companies currently have effective tax rates as high as 70% to 90%,” Kobrin said in an email. Rescheduling grants “massive tax savings and allows cannabis operators to run their business like every other business when it comes to tax planning and saving.” It would also likely open the industry up to capital markets and US stock exchanges, he added, while opening up access to FDA research grants that would make clinical studies of marijuana more accessible.
https://www.bloomberg.com/news/newsletters/2023-09-05/cannabis-industry-enjoys-the-moment-as-federal-review-moves-forward
Thanks, Just did the same thing as you and Cabo and man did the board clean up nicely.
Volume increase may have some to with the bill before congress to halt congress from stock trading so looks like all the law makers have been buying for the long haul.
Been down so damn long time looks like up to me. Herb is getting set free from lock and key.
Jim that was a perfectly timed buy ya sniffed it out like a blind hound dog!
Temporally throw the charts out for duration, politics is in the drivers seat for now. Anti weed Florida lady cant do squat.
Seniors the biggest voting block there is. Wont be long now till the fat flower sings.
People strive to buy the best herb they can. Who will be the top provider of the best flower when legal tender nationwide?
Hypothetical question once federally legal. If could only have alcohol or cannabis for rest of ones life which one would people choose Gods Herb or mans alcohol? I say weed, TLRY to prosper.
Check out the 6 month chart or the one year. I have no skin in this game. There is no action as no one cares about this company anymore if they ever did like five years ago perhaps when was ten bucks why pump all the way into the dump?
That would be never then for SAFE to happen if will have to wait for every state to legalize. TEXAS NEVER WILL. Safe has been going on ten years now. Ask Booker and his running mates. Texas outlawed in 1910 does not have voter initiatives is run by wheel chair man will of the people no matter,
Wrong answer on short interest is 5.1
https://shortsqueeze.com/?symbol=tlry
Watch the FDA approve a pill to disrupt the lives of disabled vets who chooses cannabis over pills and use the V.A.. They say have a pill to wean people off liking cannabis. The FDA is whacko. Will force the V.A. to dole out pills for that when vets say they use herb to not commit suicides. The government does not work for the good of the people especially if a vet.
New Drug for Cannabis Use Disorder Shows Promise in Early Trials in Humans
https://www.scientificamerican.com/article/new-drug-for-cannabis-use-disorder-shows-promise-in-early-trials-in-humans/
The weed will burn up or the sun will do in the shorts.
Looking for short squeeze.