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Virginia Lawmakers Send Marijuana Legalization Bill To Governor’s Desk Just Hours Before Deadline
https://www.marijuanamoment.net/deal-reached-on-virginia-marijuana-legalization-bill-just-hours-before-deadline/
Sleek
The House is about to clear the decks, which is necessary in order for these cannabis-loving Dems to push forward with their 2021 platform, which I believe will include the introduction of The SAFE Banking Act of 2021
House set to approve Biden’s $1.9 trillion stimulus package, send bill to the Senate
https://www.cnbc.com/2021/02/26/coronavirus-stimulus-update-house-to-pass-1point9-trillion-biden-relief-bill.html
Since the House has already passed this cannabis banking bill very recently and has now done so multiple times, I think it’s possible we see another rapid passage this time around — it may even skip the Committee process and go directly to a floor vote
The real action on cannabis banking will take place in the Senate, and with Chuck calling the shots I would expect to see some movement in the Senate’s version of The SAFE Banking Act of 2021 either before or right around the time he unveils the draft of his MJ Legalization Bill
Sleek
Hemp producers: USDA preparing for 2022 Census of Agriculture with sample content tests
https://hempindustrydaily.com/hemp-producers-usda-preparing-for-2022-census-of-agriculture-with-sample-content-tests/
Sleek
IRS Chief Says Agency Would ‘Prefer’ If Marijuana Businesses Could Pay Taxes Electronically
https://www.marijuanamoment.net/irs-chief-says-agency-would-prefer-if-marijuana-businesses-could-pay-taxes-electronically/
Sleek
Cannabis, CBD Sagas About to Get Real
If you have been waiting and hoping for a federal change in law or policy about cannabis and CBD products, it’s OK to start holding your breath now, because real changes are likelier than ever during 2021.
https://www.packworld.com/issues/e-commerce/article/21295267/cannabis-cbd-sagas-about-to-get-real
Sleek
New York Marijuana Legalization Proposals Get First Joint Legislative Hearing Of 2021
It’s not mentioned in this article, but I believe that NY’s Democratic supermajority in the Senate means they can override any veto from Cuomo, though that power could be situation-specific
I could be wrong on that, so if anybody in NY understands the mechanics and technicalities around overriding vetos, please feel free to chime in
https://www.marijuanamoment.net/new-york-marijuana-legalization-proposals-get-first-joint-legislative-hearing-of-2021/
Sleek
Tom Vilsack confirmed in Senate as new US Secretary of Agriculture
Tom should be a step up from Sonny in the hemp game
Sonny wasn’t bad at all, but he was hamstrung by the Republican DEA
Since hemp has been completely descheduled, it rightfully deserves to be treated like other crops, just as hemp products are rightfully allowed to be sold in everyday stores
Hemp is a great crop for the environment as well, so it ties in together well with the Biden administration’s focus on issues like climate change
I know that Miller has a pretty good relationship with Vilsack, which is also a big plus
https://hempindustrydaily.com/tom-vilsack-confirmed-in-senate-as-new-us-secretary-of-agriculture/
Sleek
Virginia Conference Committee Faces Saturday Deadline To Finalize Marijuana Legalization Proposal
https://www.marijuanamoment.net/virginia-conference-committee-faces-saturday-deadline-to-finalize-marijuana-legalization-proposal/
Passing MJ Legalization via legislature in less than 2 months from time of introduction would be really impressive:
Virginia Governor Unveils Bill To Legalize Marijuana As Lawmakers Schedule First Hearing
https://www.marijuanamoment.net/virginia-governor-unveils-bill-to-legalize-marijuana-as-lawmakers-schedule-first-hearing/
NY really needs to get its s@#t together already — this is 2021, the year the people want MJ and the legislators are finally listening:
https://www.nydailynews.com/opinion/ny-edit-cuomo-marijuana-legalization-new-york-budget-pot-20210221-jjxvlsuo2vg6zc3ket5owjz4r4-story.html
Sleek
Anybody live in North Dakota?
Just saw that the House passed MJ Legalization
North Dakota House Approves Marijuana Legalization Bill
https://www.marijuanamoment.net/north-dakota-house-approves-marijuana-legalization-bill/
I don’t know the probability of the Senate following through and am curious to hear the thoughts of any North Dakotans
But it did make me think, if North Dakota can legalize MJ via legislature in 2021, then New York — with a Democratic supermajority in House and Senate and Cuomo pushing hard — should be able to get it done, too — though I’m still keeping those odds at 70/30 for now, largely based on the difficulty NJ had in getting it across the finish line even after the successful ballot initiative
Sleek
That’s certainly been a factor in the cannabis sector recently
At least Powell’s written remarks today seemed to have a calming effect — the guy is a gem
Sleek
Governor Cuomo Announces the New York State Department of Health's Cannabinoid Hemp Program Now Accepting License Applications
https://www.governor.ny.gov/news/governor-cuomo-announces-new-york-state-department-healths-cannabinoid-hemp-program-now
Sleek
With new rules in place, New York opens up licenses for CBD production and sales
https://www.newyorkupstate.com/business/2021/02/with-new-rules-in-place-new-york-opens-up-licenses-for-cbd-production-and-sales.html
Sleek
New York Governor Reveals Amendments To Marijuana Legalization Plan Weeks Before Budget Deadline
https://www.marijuanamoment.net/new-york-governor-reveals-amendments-to-marijuana-legalization-plan-weeks-before-budget-deadline/
Sleek
Feds Shouldn’t Waste Resources On Marijuana Enforcement In Legal States, Biden AG Pick Says
https://www.marijuanamoment.net/marijuana-enforcement-is-a-perfect-example-of-racial-discrimination-biden-ag-pick-garland-says/
Sleek
MJ Legalization
Democratic Senate Leaders Announce Steps To Federally Legalize Marijuana In 2021
https://www.marijuanamoment.net/democratic-senate-leaders-announce-steps-to-federally-legalize-marijuana-in-2021/
Top Senate Democrats: We’ll Legalize Marijuana
https://www.forbes.com/sites/chrisroberts/2021/02/01/top-senate-democrats-well-legalize-marijuana/?sh=444db8ba215e
Sleek
CBD Legalization
“Hopeful to pass CBD Legalization in early 2021”
HR 8179 is 2020’s version of The CBD Dietary Supplement Legalization Bill
The 2021 version, HR 841, was filed on 2/4/21 and is virtually the same bill as HR 8179, so when Miller is saying that he is “hopeful to pass HR 8179 sometime in early 2021,” this means that he is hopeful to pass the Legalization of CBD Dietary Supplements (HR 841) sometime in “early 2021”
Miller also says he expects legislation to “Legalize CBD as a Food and Beverage Additive” in 2021
Watch him go on record here about CBD Legalization in Supplements, Food and Beverages — timestamped so just hit play:
Banking Legalization For MJ, Hemp & CBD
Here’s the bill that passed the House in the 2019-2020 Congress:
https://www.congress.gov/bill/116th-congress/house-bill/1595
Democrats have already announced their intention to pass it in the new Congress:
Cannabis industry may finally move past cash as Democrats look to loosen banking restrictions
https://www.denverpost.com/2021/02/04/marijuana-banking-colorado-congress-cannabis-restrictions/
Marijuana Banking Protections Must Come With Sentencing Reform, Key Senate Chairman Says
https://www.marijuanamoment.net/marijuana-banking-protections-must-come-with-sentencing-reform-key-senate-chairman-says/
The Outsized Importance of The SAFE Banking Act Of 2021
One of the big keys to the cannabis sector in 2021 is The SAFE Banking Act, which would open up banking for both MJ and Hemp/CBD
It’s also most likely the best legislative vehicle to which CBD Legalization (Hemp-derived CBD Products) can be attached:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=161621173
The SAFE Banking Act is an actual and tangible piece of legislation that is ready to move through the Senate in 2021
The reason why The SAFE Banking Act should be passed in 2021 is that it doesn’t make sense for Dems to try to legalize in 2022 without having passed the SAFE Banking Act first
There are a number of reasons why this approach — SAFE Banking in 2021 and MJ Legalization in 2022 — is the most rational
Here are the 2 most important ones from my perspective:
1) Passing the SAFE Banking Act in 2021 makes it more likely that MJ Legalization can attract enough votes in the Senate in 2022 to actually hit the floor — 60 votes are required with the filibuster in place
So if the goal is to pass MJ Legalization before the elections, then what can Dems do legislatively beforehand to increase the odds of being successful?
Passing the SAFE Banking Act in 2021 is the single biggest thing they can do, because once the financial side of things is opened up, investors will flood the sector with money and the momentum to legalize MJ in 2022 will reach an entirely different level — money will drive the MJ Legalization movement through the finish line — that’s what will motivate the handful of Republican Senators needed to pass the MJ Legalization Bill who are currently sitting on the fence — all the talk right now is about social justice being a key driving force, but that’s largely a Democratic ideal — money is the bigger factor for Republicans
2) If the Dems don’t pass The SAFE Banking Act in 2021 and they attempt to pass MJ Legalization in 2022 and are not successful, then they might wind up with nothing
No Banking, No Legalization
It would be great to get legalization, as that would probably resolve the banking issue
But if legalization fails in 2022, then Dems could wind up with NOTHING to show for their efforts and may very well lose the Senate and/or the House in 2022 — if that occurs, the MJ industry could be stuck in neutral for the foreseeable future
That’s the last thing the Democratic Party wants to see happen
The SAFE Banking Act is likely to wind up being the biggest direct catalyst for MJ & Hemp/CBD stocks in 2021 — the prospects of MJ Legalization right now are the biggest indirect catalyst for the cannabis sector, at least until they become more of a direct catalyst after the bill is filed and starts attracting cosigners
The SAFE Banking Act alone would become the biggest federal catalyst to ever hit the cannabis sector thus far
If CBD Legalization is attached to it, the catalyst would be that much stronger for CBD stocks
With the passage of Banking Legalization for MJ and Hemp/CBD in 2021, the anticipation of the potential for MJ Legalization in 2022 would then be tied into the sentiment-driven narrative offered up by Democrats and broadcast by the media — The MJ Legalization story has great potential to take the American cannabis sector to its greatest heights in history in 2021
But it really all starts with The SAFE Banking Act, so its reintroduction into the House and Senate is the first step in this process
Sleek
Joe Rogan Convinced Elon Musk to Use CBD
https://www.greenentrepreneur.com/article/365799
Sleek
New Jersey Lawmakers Send Marijuana Compromise Bill To Governor’s Desk, Setting Stage For Legal Sales
https://www.marijuanamoment.net/new-jersey-lawmakers-send-marijuana-compromise-bill-to-governors-desk-setting-stage-for-legal-sales/
Sleek
With its share structure, ongoing business development and anticipated announcements on pending acquisitions, in a year like 2021, AMMJ clearly has a very high ceiling from current prices
The real question then becomes, just how much of that potential will be fulfilled?
I do agree with you that the same float lock we’ve seen before in AMMJ is a pretty good bet to happen again
AMMJ is going to put on an exciting show this year, so I’m happy to have my tickets
Sleek
There’s no doubt that the AMMJ float has tightened considerably over the past few months, as it’s been under continual accumulation during that time, and it’s also been largely trading in a dilution-free environment in 2021
In terms of float lock itself, the term suggests an on/off switch type of mechanism, but in reality floats exist in a spectrum of lockedness
On a scale of 1-10, with 10 representing true float lock, I’d estimate AMMJ has moved from the 2-3 level to the 6-7 level over the past few months
I think we are more likely to see a true float lock somewhere in the $.80-$1 area
When a stock moves up a big % on relatively low volume, it does suggest the existence of a tight float
Part of what we are seeing today in terms of the % gain number stems from the fact that AMMJ got painted down at the close yesterday, thereby magnifying the gains today
But all in all, any stock that is progressing towards a true float lock is one that is progressing towards the possibility of parabolic movement
And in the end, that’s what tends to provide the biggest % gains for any stock
Sleek
NFL Explores How Marijuana And CBD Can Be Used As Opioid Alternatives For Players
https://www.marijuanamoment.net/nfl-explores-how-marijuana-and-cbd-can-be-used-as-opioid-alternatives-for-players/
Sleek
Marijuana Legalization Legislation Advances Nationwide
Very handy summary of states that currently have MJ Legalization legislation pending:
https://norml.org/blog/2021/02/18/marijuana-legalization-legislation-advances-nationwide/
Sleek
State Marijuana Regulators Outline Policy Priorities As Congress Pursues Legalization
https://www.marijuanamoment.net/state-marijuana-regulators-outline-policy-priorities-as-congress-pursues-legalization/
Sleek
No, that isn’t correct at all, only two of these events had a pretty good shot of occurring in 2020
With a Republican President and Mitch McConnell controlling the Senate, MJ Legalization had absolutely zero chance in Congress, as it wasn’t something the Republican Party supported at all, and I never spoke of any possibility of MJ Legalization in 2020
Furthermore, Mitch McConnell, who as the Senate Majority Leader controlled whether or not any piece of cannabis legislation could hit the Senate Floor for a vote, personally detests MJ
So MJ was completely dead in the water under Republican leadership
However, Hemp-CBD Product Legalization was slated to occur last year, according to the following evidence:
If Mitch doesn’t support MJ, then why would Mitch want to vote on The SAFE Banking Act in Spring 2020?
https://hempsupporter.com/news/movement-on-safe-banking-act
The most valid answer is because he saw The SAFE Banking Act as the most viable legislative vehicle to which he could attach Hemp-CBD Product Legalization, which is probably too small a bill to pass on its own
At that time, Mitch was running in a very tight election — early polls had him up by only 1-3 points — and he wanted to run on Hemp Legalization, as that was an enormous legislative accomplishment that he achieved for the state of Kentucky
It’s easy for some to forget, but Mitch pretty much singlehandedly achieved Federal Hemp Legalization in 2018, and he didn’t merely just legalize it, he also took Hemp from being a Schedule I Drug and completely removed it from the Schedule of Controlled Substances, which was a herculean legislative accomplishment that nobody else in Congress could have pulled off
Passing Hemp-CBD Product Legalization through Congress last year would have paled in comparison in terms of the degree of legislative difficulty
And if he didn’t want to run on Hemp Legalization, then why was more than 50% of his campaign video about hemp?
https://www.forbes.com/sites/tomangell/2020/01/10/watch-mitch-mcconnell-frolic-in-a-field-of-cannabis/?sh=bba88406d9a7
The biggest issue voters in Kentucky had with Mitch over his handling of Hemp Legalization is that he left the legal status of the Hemp industry in the hands of the FDA, which deemed all hemp-derived CBD products sold as food, beverages and dietary supplements federally illegal, due to the drug exclusion clause in the FDCA
Running on the legislative accomplishment of Hemp Legalization while Hemp-CBD Products were still illegal simply didn’t make any sense, because the illegality of Hemp-CBD Products is what has stymied the hemp industry in Kentucky and everywhere else, and Mitch has taken a lot of heat from his constituents (and his political opponents) over the passage of Hemp Legalization without fixing the problem of federally illegal Hemp-CBD products — so it wouldn’t make sense for Mitch to make hemp a cornerstone of his campaign when that was actually a negative issue for him with voters
So Mitch appeared to be dead set on legalizing Hemp-CBD Products before the 2020 election
And then Covid happened
And Congress ground to an absolute halt, where nothing except for stimulus legislation could get through and Congress couldn’t even get their act together to pass that before the election
There was a lot of supporting evidence for the political pressure theory to which I ascribed — Mitch McConnell was deeply unpopular in Kentucky and would use his unparalleled legislative powers in Congress to pass CBD Legalization for his own political benefit, when he was running in a race that was predicted to be his closest election as a Senator
Unfortunately, that theory never got fully put to the test due to Covid, a once-in-a-century pandemic that impacted every aspect of passing Congressional legislation in 2020
So the political pressure theory was a pretty sound theory, but sometimes in life things don’t always pan out the way you think they will — spontaneous negative events can happen and we saw a great example of that last year with Covid
Predicting the future isn’t something anybody has a perfect track record of doing
I’ve made my fair share of successful predictions — The 2016 Cannabis Election Mania, 2018 California Cannabis Mania and Hemp Legalization in 2018 are probably my top 3 — at the same time, I’ve also made my fair share of predictions that didn’t wind up panning out
For 2021, I’m actually not really trying to “predict” anything — all the evidence for the Democrat’s political agenda in 2021-2022 is out there for all to see, and Mitch still controls the Republican Party as the Senate Minority Leader, so he will continue to have an important say over all forms of cannabis legislation in the Senate, including The SAFE Banking Act and CBD Legalization
Sleek
Red day for the cannabis sector today
When I speak about my excitement for the cannabis sector in 2021, like most of you I’m not tremendously focused right now on the day-to-day action, but moreso on what will happen over the coming weeks and months
Obviously when the sector warms up, that’s a totally different story and the day-to-day action becomes a much larger focus of mine
Sleek
Looks like a pretty slow day in the cannabis sector so far
The big Canadian plays are continuing to stabilize on lower volume and are generally trading within a horizontal range for the past few days
Sleek
Thanks for the kind words, Bluejay
Regards,
Sleek
Some Thoughts About 2021
Even with everything going on so far this year, Chuck and friends have made it a point of emphasis to talk about MJ Legalization with the media on multiple occasions
All that chatter has basically served as the introduction of a story that we’ll see play out in 2021-2022 with this Democratic Presidency, House and Senate
If we think of the Dems’ political strategy as a structural narrative, then Chapter 1 is coming up next
It will undoubtedly be nice to get the latest Covid Stimulus Bill out of the way, but even before that happens, there’s nothing stopping any of the Dems from bringing up MJ again
I don’t know one way or the other whether they will introduce The SAFE Banking Act in February or March, and it really doesn’t matter very much at this point
We know that’s coming, and we know the talk of federally legalizing MJ will be a continual conversation with the media that will play out all year long
Sure I’d like to see the same manic action in the sector we all saw for a few days last week restart as soon as possible — it’s pretty exhilarating stuff
Last week was just a small taste of what 2014 and 2016 were like, and what most of us expect to see again in the near future
In 2014 and 2016, if you went to the most read boards tab during the first few days of those manias, only a few of the stocks were cannabis stocks — a few weeks into the mania, 30%-40% of the tickers were cannabis stocks, and after 6-8 weeks it was 70%-80%
It takes time for most of the sidelined investors to enter and it happens in stages
Last week, when we saw the first few days of action inside a bona fide cannabis mania for the first time since late December 2017, I clicked on the most read tab and only saw a handful of cannabis tickers
That put things into perspective in terms of where we are right now, so while I’d like to get to the next stage in an expeditious manner, at the same time I’m also not in a big hurry to get there because I know it’s coming and I know that it will happen when it’s ready to happen — this week, next week, next month — before the passage of the stimulus bill or after — whenever it happens is cool with me
2021 is a different setup than 2014 and 2016, so there really isn’t a great historical comparison out there for what we’re likely to see this year
2014 was about Colorado being the 1st state to launch sales of Rec MJ
2016 was about the prospects of moving MJ from Schedule I to Schedule II if Clinton won the election, coupled with California’s citizens voting on legalizing Rec MJ alongside 4 other states, which served as a symbolic catalyst
2018, interrupted after less than 2 weeks by Jeff Sessions, was about California being the largest state to launch sales of Rec MJ
2021 isn’t about states launching sales of Rec MJ or the prospects of rescheduling MJ
In 2021, the cannabis sector is about the Federal Legalization of Cannabis Banking (MJ & Hemp/CBD), the Federal Legalization of CBD Products (Hemp/CBD) and the push towards The Federal Legalization of MJ (complete descheduling of MJ)
So in terms of ranking the significance of the potential cannabis catalysts in 2021 —
For CBD stocks, CBD Legalization is the #1 ranked catalyst and Banking Legalization is the #2 or #3 ranked catalyst
For MJ stocks, Banking Legalization is the #2 or #3 ranked catalyst and MJ Legalization is the #1 ranked catalyst
None of us could ask for a better setup
I think NY passing Rec MJ Legalization via legislature would also be a huge catalyst
And likewise, in the current climate, California passing CBD Product Legalization would be huge, too
We are only 6 weeks into the calendar year, but it sure seems like 2021 is going to be a very special year for cannabis investors
Sleek
Yes, it definitely could bode well for BLEG
I’m glad to see their focus on athletes continue
It seems like that’s the right group to promote CBD products right now — CBD Oil and CBD Beverages
Brandon Spikes was an excellent NFL player and he should be a real asset to BLEG moving forward
Sleek
NFL seeks information on CBD and other alternatives to opioids
https://profootballtalk.nbcsports.com/2021/02/17/nfl-seeks-information-on-cbd-and-other-alternatives-to-opioids/
Sleek
Following yesterday’s big green day for the Canadian Nasdaq/NYSE MJ stocks, this morning they have been trading down, but on significantly lower volume than yesterday
Because these are acting like bellwethers for the entire cannabis sector, the OTC cannabis sector is red as well
These Canadian Nasdaq/NYSE stocks all hit their bottoms on Friday, and through the first 1.5 tradings days this week, they have rebounded off those bottoms and are now moving sideways
The next few days will provide more directional data, which is really a short-term indicator of sector sentiment
On a more fundamental level, the reintroduction of The SAFE Banking Act is the next big thing I’m keeping an eye on moving forward
That’s the piece of legislation that I’ve always viewed as the direct manic catalyst in 2021
Anything resembling a mania that occurs prior to that being reintroduced and moving through the Senate is great, too
As is a warm sector, which seems like a pretty reasonable place to be at this juncture in time
Sleek
The Outsized Importance of The SAFE Banking Act Of 2021
One of the big keys to the cannabis sector in 2021 is The SAFE Banking Act, which would open up banking for both MJ and Hemp/CBD:
https://www.congress.gov/bill/116th-congress/house-bill/1595
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=161845119
It’s also most likely the best legislative vehicle to which CBD Legalization (Hemp-derived CBD Products) can be attached:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=161621173
The SAFE Banking Act is an actual and tangible piece of legislation that is ready to move through the Senate in 2021
The reason why I’m pretty confident that The SAFE Banking Act will be passed in 2021 is that it doesn’t make sense for Dems to try to legalize in 2022 without having passed the SAFE Banking Act first
There are a number of reasons why this approach — SAFE Banking in 2021 and MJ Legalization in 2022 — is the most rational
Here are the 2 most important ones from my perspective:
1) Passing the SAFE Banking Act in 2021 makes it more likely that MJ Legalization can attract enough votes in the Senate in 2022 to actually hit the floor — 60 votes are required with the filibuster in place
So if the goal is to pass MJ Legalization before the elections, then what can Dems do legislatively beforehand to increase the odds of being successful?
Passing the SAFE Banking Act in 2021 is the single biggest thing they can do, because once the financial side of things is opened up, investors will flood the sector with money and the momentum to legalize MJ in 2022 will reach an entirely different level — money will drive the MJ Legalization movement through the finish line — that’s what will motivate the handful of Republican Senators needed to pass the MJ Legalization Bill who are currently sitting on the fence — all the talk right now is about social justice being a key driving force, but that’s largely a Democratic ideal — money is the bigger factor for Republicans
2) If the Dems don’t pass The SAFE Banking Act in 2021 and they attempt to pass MJ Legalization in 2022 and are not successful, then they might wind up with nothing
No Banking, No Legalization
It would be great to get legalization, as that would resolve the banking issue
But if legalization fails in 2022, then Dems could wind up with NOTHING to show for their efforts and may very well lose the Senate and/or the House in 2022 — if that occurs, the MJ industry could be stuck in neutral for the foreseeable future
That’s the last thing the Democratic Party wants to see happen
The SAFE Banking Act is coming and that will likely wind up being the biggest direct catalyst for MJ & Hemp/CBD stocks in 2021 — the prospects of MJ Legalization right now are the biggest indirect catalyst for the cannabis sector, at least until they become a direct catalyst after the bill is filed and starts attracting cosigners
The SAFE Banking Act alone will become the biggest catalyst to ever hit the cannabis sector thus far
With the passage of Banking Legalization for MJ and Hemp/CBD, the presumption of MJ Legalization in 2022 will then be tied into the sentiment-driven narrative broadcast and covered by all forms of media — The MJ Legalization story has great potential to take the American cannabis sector to its greatest heights in history in 2021
Sleek
Re-introduction of The SAFE Banking Act is the next major legislative event we should see in the cannabis sector
Not sure if that is a February or March event
It’s clearly part of the Dems’ political strategy to speak frequently to the press about MJ Legalization
So if they want the full spotlight on MJ, they may want to pass the latest Covid Stimulus Bill first before unveiling the 2021 version of The SAFE Banking Act
Sleek
The big Canadian Nasdaq/NYSE MJ stocks had a very strong day today
Many of them closed up strongly in the green, ending the 2-day drought that occurred on Thurs/Fri
That’s a nice sign, as was the improvement in the temperature of the OTC cannabis sector today, which I would describe as warm
So let’s see if those Canadian names, which have largely acted as the bellwethers during this cannabis sector rally, can put together consecutive green days tomorrow
Whether the sector will spontaneously reignite this week and provide some days like we saw last week, whether the sector remains warm instead of manic (which is also a pretty nice place to be) or whether the sector needs some more time to rest will be a story that plays out over the next few days during this trading-shortened week
Sleek
Would love to see a KGKG breakout at .056 level soon
It’s been churning pretty nicely around this .05 level for a few days, and today it’s trading in a very tight range
The golden cross last week doesn’t hurt, either:
https://schrts.co/qESpyCgk
Sleek
AMMJ and SIPC also flirting with green here
Sleek
As for the big names in the cannabis sector on the Nasdaq and NYSE, they are trading very strongly so far today
In the OTC right now, it looks like more of a mixed bag in terms of green and red — some of that is due to the OTC being a bit of a laggard with respect to the Nasdaq and NYSE, and I suspect another aspect of it may be that there is more speculative money in the OTC, and with bitcoin recently breaking the $50k mark, today crypto is a bigger story than MJ and some of that speculative money may be redirected there
I think as long as those big names put together a good full day of trading, the articles talking about cannabis stocks tonight will be positive, instead of negative like they were on Thurs and Fri
And that should bode well for the OTC cannabis sector this week
Sleek
Haven’t been able to watch trading today, but it looks like KGKG, ISOLF, BLEG and CANB are in the green right now and putting together a solid day thus far
Sleek
Cory Booker Touts Marijuana Reform Record After Being Named Chair Of Key Senate Subcommittee
https://www.marijuanamoment.net/cory-booker-touts-marijuana-reform-record-after-being-named-chair-of-key-senate-subcommittee/
Sleek