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No regard for Beauregard
Trump speaks to advisers about firing Sessions
WASHINGTON (AP) — President Donald Trump has spoken with advisers about firing Attorney General Jeff Sessions, as he continues to rage against Sessions' decision to recuse himself from all matters related to the Russia investigation.
The president's anger again bubbled into public view Monday as he referred to Sessions in a tweet as "beleaguered." Privately, Trump has speculated aloud to allies in recent days about the potential consequences of firing Sessions, according to three people who have recently spoken to the president. They demanded anonymity to discuss private conversations.
Trump often talks about making staff changes without following through, so those who have spoken with the president cautioned that a change may not be imminent or happen at all. What is clear is that Trump remains furious that the attorney general recused himself from the investigations.
"So why aren't the Committees and investigators, and of course our beleaguered A.G., looking into Crooked Hillarys crimes & Russia relations?" Trump tweeted Monday. His tweet came just hours before his son-in-law, White House senior adviser Jared Kushner, traveled to Capitol Hill to be interviewed about his meetings with Russians.
Trump's intensifying criticism has fueled speculation that Sessions may resign even if Trump opts not to fire him. During an event at the White House, Trump ignored a shouted question about whether Sessions should step down. The attorney general said last week he intended to stay in his post.
If Trump were to fire Sessions, Deputy Attorney General Rod Rosenstein would be elevated to the top post on an acting basis. That would leave the president with another attorney general of whom he has been sharply critical in both public and private for his handling of the Russia probe, according to four White House and outside advisers who, like others interviewed, spoke on condition of anonymity to discuss private conversations.
It could also raise the specter of Trump asking Rosenstein — or whomever he appoints to fill the position — to fire Robert Mueller, the special counsel leading the investigation into Russia's meddling in the 2016 election and potential collusion with Trump's campaign.
The name of one longtime Trump ally, Rudy Giuliani, was floated Monday as a possible replacement for Sessions, but a person who recently spoke to the former New York City mayor said that Giuliani had not been approached about the position. Giuliani told CNN on Monday that he did not want the post and would have recused himself had he been in Sessions' position.
The president's tweet about the former Alabama senator comes less than a week after Trump, in a New York Times interview, said that Sessions should never have taken the job as attorney general if he was going to recuse himself. Sessions made that decision after it was revealed that he had met with a top Russian diplomat last year.
Trump has seethed about Sessions' decision for months, viewing it as disloyal — arguably the most grievous offense in the president's mind — and resenting that the attorney general did not give the White House a proper heads-up before making the announcement that he would recuse himself. His fury has been fanned by several close confidants — including his son Donald Trump Jr, who is also ensnared in the Russia probe — who are angry that Sessions made his decision.
Trump and Sessions' conversations in recent weeks have been infrequent. Sessions had recently asked senior White House staff how he might patch up relations with the president but that effort did not go anywhere, according to a person briefed on the conversations. Sessions was in the West Wing on Monday but did not meet with the president, according to deputy press secretary Sarah Huckabee Sanders.
Newt Gingrich, a frequent Trump adviser, said that the president, with his criticisms of Sessions, was simply venting and being "honest about his feelings. But that doesn't mean he's going to do anything," Gingrich said. Still, he said the president's comments would have repercussions when it comes to staff morale.
"Anybody who is good at team building would suggest to the president that attacking members of your team rattles the whole team," Gingrich said.
Sessions and Trump used to be close, sharing both a friendship and an ideology. Sessions risked his reputation when he became the first U.S. senator to endorse the celebrity businessman and his early backing gave Trump legitimacy, especially among the hard-line anti-immigration forces that bolstered his candidacy. Several of Sessions' top aides now serve in top administration posts, including Stephen Miller, the architect of several of Trump's signature proposals, including the travel ban and tough immigration policy.
After Trump's public rebuke last week, Sessions seemed determined to keep doing the job he said "goes beyond anything that I would have ever imagined for myself."
"I'm totally confident that we can continue to run this office in an effective way," Sessions said last week.
Armand DeKeyser, who worked closely with Sessions and became his chief of staff in the Senate, said he did not see the attorney general as someone who would easily cave to criticism, even from the president.
"If Jeff thinks he is in an untenable position and cannot be an effective leader, I believe he would leave," DeKeyser said. "But I don't think he's reached that point."
But Anthony Scaramucci, the president's new communications director, said that it's time for Trump and Sessions to hash out a resolution, regardless of what they decide.
"My own personal opinion, I think they've got to have a meeting and have a reconciliation one way or another. You know what I mean? Either stay or go, one way or another," he said.
The Justice Department declined to comment.
__
https://www.yahoo.com/news/ap-sources-trump-speaks-advisers-firing-sessions-081917673--politics.html
Low regard for Beauregard
Trump leaves Sessions twisting in the wind while berating him publicly
By Sari Horwitz, Matt Zapotosky and Robert Costa July 24 at 7:15 PM
President Trump and his advisers are privately discussing the possibility of replacing Attorney General Jeff Sessions, and some confidants are floating prospects who could take his place were he to resign or be fired, according to people familiar with the talks.
Members of Trump’s circle, including White House officials, have increasingly raised the question among themselves in recent days as the president has continued to vent his frustration with the attorney general, the people said.
Replacing Sessions is seen by some Trump associates as potentially being part of a strategy to fire special counsel Robert S. Mueller III and end his investigation into whether the Trump campaign coordinated with the Kremlin to influence the 2016 election, according to the people, who spoke on the condition of anonymity because they were not authorized to comment publicly.
The president took another swipe at Sessions on Monday, calling his attorney general “our beleaguered A.G.” and asking why Sessions was not “looking into Crooked Hillary’s crimes & Russia relations?”
Both points are notable. Sessions was once considered one of Trump’s closest advisers and enjoyed access few others had. Now he is left to endure regular public criticism by his boss.
https://www.washingtonpost.com/world/national-security/trump-leaves-sessions-twisting-in-the-wind-while-berating-him-publicly/2017/07/24/ce3bf142-708b-11e7-9eac-d56bd5568db8_story.html?utm_term=.b68204ebcbfb
Big green van delivers
YESCA !
"common sense marijuana reform.”
Everything is better with a bag of weed
TIME:Nevada's Legal Marijuana Is Popular
Nevada's Legal Marijuana Is So Popular That Pot Distributors Can't Keep Up With Demand
Scott Sonner / AP
Jul 13, 2017
(CARSON CITY, Nev.) — Responding to overwhelming demand at Nevada's new recreational marijuana stores, state regulators approved Nevada's first two pot distribution licenses and were considering emergency regulations Thursday aimed at licensing more.
The state Tax Commission was expected to approve emergency rules endorsed by Gov. Brian Sandoval to address a distribution bottleneck resulting from Nevada's unique voter-approved measure to legalize recreational sales. Sales began July 1.
Unlike other legal pot states, Nevada's law dictates that only alcohol wholesalers can transport the drug from growers to storefronts for the next 18 months. The state is challenging the interpretation of that law because of the bottleneck.
Many retailers were previously licensed to sell and distribute medical pot, so they started stockpiling supplies months ago in an anticipation of high demand for recreational marijuana.
But representatives of several of the 47 retailers now licensed to sell recreationally testified before the tax panel Thursday their shelves are nearly empty because there's no distribution mechanism that allows them to restock.
They urged the commissioners to approve an emergency regulation backed by the governor to allow some pot retailers to serve as their own distributors if there aren't enough alcohol distributors to do the job.
Nevada Department of Taxation Executive Director Deonne Contine announced at the hearing in Carson City that the agency has approved licenses for two alcohol wholesalers in compliance with a court order to begin distributing recreational pot to retailers.
But she said it's too soon to tell if Crooked Wine of Reno and Rebel Wine of Las Vegas will be able to handle the demand statewide. She said one of the new licensees is "pretty stressed out about what he's going to be asked to do."
"There's room in this market for plenty of more," Contine said, adding that she's hopeful some additional alcohol wholesalers could be licensed in the days or weeks ahead.
"Businesses could close their doors or are not going to be able to get products they are legally licensed to sell," she said.
The state has filed an appeal asking the Nevada Supreme Court to overturn Carson City Judge James Wilson's ruling prohibiting distribution licenses for anyone other than alcohol wholesalers.
A lawyer for the Independent Alcohol Distributors of Nevada, which won that injunction, told the tax commissioners on Thursday the emergency regulation they were considering would be just as illegal as an earlier one Wilson threw out. Kevin Benson stopped short of threatening another lawsuit, but said he's convinced the emergency rules would be invalid.
The Tax Department last week declared the need for the emergency rules after marijuana retailers recorded more than 40,000 transactions in the first weekend.
"Without the ability to license marijuana distributors to continue the flow of product to the retail store, a high likelihood exists that consumers will revert to the black market," Contine said.She said unless the matter is resolved quickly, the distribution bottleneck will cost both the state and investors millions of dollars, thousands of jobs and "cause this nascent industry to grind to a halt."
http://time.com/4857994/recreational-marijuana-distribution-emergency-measures/
Tax Dept voted to approve emergency regulations
The unanimous vote allows @NVTaxDept to possibly expand pool of pot distributors
2 liquor distributors are already approved.
Rebel One from Las Vegas and Blackbird based in Reno
.@NVTaxDept director Deonne Contine says it will take at least 2 weeks to determine if there's a need to expand pot distributor license pool
https://twitter.com/RileySnyder
Blackbird knows what they're doing
The other liquor distributors had testified that they thought it was gonna be like delivering musical instruments.
Blackbird partnered with Crooked Wines to get the distribution license, real company name :)
Nevada issues first rec marijuana distribution license to alcohol-pot partnership
Jenny Kane , jkane@rgj.com Published 11:55 a.m. PT July 13, 2017 | Updated 11:55 a.m. PT July 13, 2017
The end of Nevada's recreational marijuana supply and demand "emergency" could be near.
Nevada on Wednesday night issued its first recreational marijuana distribution license to a wholesale liquor distributor who partnered with a medical marijuana distributor.
The state Department of Taxation awarded a $15,000 license (not including the $5,000 application fee) to Crooked Wine Company, a Reno-based wholesale alcohol distributor, according to Stephanie Klapstein, spokeswoman for the department.
Crooked Wine has signed an operation agreement with Blackbird, an established medical marijuana distributor also based in Reno. Crooked will have the license, but Blackbird will be in charge of the on-the-ground duties.
It is unclear what the exact terms of the agreement are and when deliveries to dispensaries will begin. Representatives were not immediately available for comment Thursday morning from either business.
Marijuana dispensaries statewide have been on edge about the delay in issuing recreational marijuana distribution licenses, licenses that enable the delivery of marijuana from grows to the shops.
As of July 1, the debut date of Nevada's early start recreational marijuana program, the state has not been able to award distribution licenses. Many dispensaries are close to running out because of the halt on deliveries of product, according to the state.
State officials initially could only issue licenses to liquor wholesalers because of language in the initial ballot measure passed in November. Due to a shortage of interested or qualified parties, the state attempted to issue licenses also to marijuana establishments.
Disgruntled alcohol distributors sued the state, but an emergency regulation passed today by the Nevada Tax Commission could end that court battle. The regulation would allow the Department of Taxation to issue licenses also to marijuana establishments.
Currently, seven alcohol distributors have applied for a recreational marijuana distribution license, whereas 87 marijuana establishments have done the same.
The department has conducted four inspections of alcohol distributors' operations, and some could receive licenses as soon as next week. As for the marijuana establishments, the department has had to sit on their applications.
If the Nevada Tax Commission passes the regulation today, then the department will be able to review applications also from the marijuana industry.
Gov. Brian Sandoval budgeted $70 million in state revenue from the fledgling industry over the next two years. The state will not be releasing revenue thus far until late September since businesses don't report their numbers until August.
Currently the state has issued the following licenses for the early start recreational marijuana program:
One distribution license
47 retail licenses
64 cultivation licenses
44 production licenses
Seven laboratories
"It’s our responsibility to make sure that we’ve licensed enough people in our market, that’s what we have to do. Our job is to license folks and to bring in the tax dollars," Klapstein said.
http://www.rgj.com/story/news/marijuana/2017/07/13/nevada-issues-first-rec-marijuana-distribution-license-alcohol-pot-partnership/476428001/
He didn't even mention legal weed
Maybe he's realized he can't do anything to stop it.
https://twitter.com/meganmesserly
Governor issues emergency clarification
NV governor's office clarifies they don't have a STATE of emergency on recreational marijuana, but a STATEMENT of emergency. #utpol #nvpol
NV governor's office clarifies they don't have a STATE of emergency on recreational marijuana, but a STATEMENT of emergency. #utpol #nvpol pic.twitter.com/Wsvzm4sg1U
— Ben Winslow (@BenWinslow) July 11, 2017
Nevada marijuana has powerful mojo
Nevada’s recreational marijuana industry has powerful momentum
By Chris Kudialis (contact)
Monday, July 10, 2017 | 2 a.m.
When legislators estimated that as much as $100 million in state tax revenue could be generated in the first two years of Nevada’s recreational marijuana industry, they couldn’t have seen this coming.
Through the first four days of legalization, starting July 1, the new industry made $3 million in sales, according to the Nevada Dispensary Association (NDA). That breaks down to $750,000 per day, and about $125,000 in state taxes. The tax revenue number would have been higher had a 15 percent wholesale distribution tax been applied, but dispensaries were still operating off medical marijuana stashes distributed before July 1.
“It has been a wild ride,” said NDA President Andrew Jolley, who owns The+Source dispensary in Las Vegas. “It has definitely met and exceeded expectations. ... It’s hard to say, but I think we’ll see sales taper off in the coming weeks and then start a slow, consistent growth after that point.”
In Alaska, tax revenue generated by recreational marijuana sales grew in all but one month from the start of legal weed sales in October 2016 — $10,400 — to May of this year — $272,100. And the number of dispensaries selling recreational pot jumped from four to 31 in that time.
Washington and Oregon have seen similar growth since kicking off recreational programs in July 2014 and October 2015, respectively. After doing about $65 million in sales in 2015, Washington brought in more than $185 million in tax revenue from pot sales last year. Oregon, which once generated less than $2.5 million a month in tax revenue from the plant, brought in almost $5.8 million in May.
It’s tough to project Nevada’s future, but its new industry has momentum.
Only 40 of the state’s 60 medical marijuana dispensaries were open for the start of recreational sales, but an additional eight to 10 in Northern Nevada could enter the industry this month, and five more will be rec-ready when a six-month moratorium on weed sales in Henderson expires in August. That leaves fewer than five dispensaries statewide saying they’re sticking to the medical model for the time being, and debating starting recreational sales Jan. 1.
“The more dispensaries you have, the more opportunity you give to tourists and locals to purchase and get used to it,” state Sen. Tick Segerblom, D-Las Vegas, said of a growing retail landscape serving a more normalized and lucrative marijuana industry. “It will absolutely help.”
GROWING PAINS OR GOOD OMEN?
While existing recreational marijuana license holders increased their staffs and inventories to accommodate the rush of new buyers, the logistics of selling to thousands of added customers overnight will take time to hammer out. Some Nevada dispensaries reported slow computers and long customer wait times in their first few days of serving recreational buyers. Dispensaries in other states have experienced that as well.
“It takes time to give customers the service they need,” said Sam Heywood, owner of Farma Dispensary in Portland, Ore. “It’s a challenge because you’re not used to dealing with that kind of volume.”
Like Nevada officials, Heywood says an encouraging first weekend of sales is a telling sign for the future of a state’s recreational weed program. Since increasing his own clientele tenfold overnight in October 2015, Heywood says he now routinely exceeds that customer count on a daily basis. “It was pretty clear to us that this was here to stay and we’d need to staff up. We were in a completely different world at that point.”
https://lasvegassun.com/news/2017/jul/10/nevadas-recreational-marijuana-industry-has-powerf/
Gov. Sandoval endorses emergency regulations
Gov. Sandoval endorses emergency regulations to address marijuana distribution problem
by Nathan O'Neal and Jami Seymore Friday, July 7th 2017
LAS VEGAS (KSNV News3LV) — Governor Sandoval has endorsed emergency regulations that would give Nevada's Department of Taxation the authority to determine whether there are enough liquor wholesalers to serve the legal marijuana distribution market.
Nevada launched recreational marijuana sales on July 1, becoming the fifth state in the country to do so.
According to the Taxation Department, adult-use marijuana sales are already far exceeding the industry's expectations at the state's 47 licensed retail marijuana stores.
Based on those reports and the reality that many stores are running out of inventory, the Department expressed the immediate need to address the lack of distributors. Some marijuana establishments have reported the need for delivery within the next several days.
The Department of Taxation says they will continue to work with liquor wholesalers who have applied for distribution licenses, but most don't yet meet the requirements to allow them to be licensed.
According to the Department, they attempted to schedule the final facility inspection with one of the applicants this week but were told the facility was not ready and the inspection was declined.
"Without the ability to license marijuana distributors to continue the flow of product to the retail store, a high likelihood exists that consumers will revert to the black market," said Deonne E. Contine, the Executive Director of the Nevada Department of Taxation in the emergency regulations.
As of Friday, no distribution licenses have been issued.
The Department of Taxation asserts the emergency regulation is in compliance with a June 20 court decision requiring the Department go through the regulatory process before it makes a decision about whether there are enough liquor wholesalers to serve the market as distributors.
"The Department is also continuing the process of asserting our rights through the Court. Late last week, we filed our appeal of the June 20 decision with the Supreme Court of Nevada, and we were granted an expedited schedule," said Stephanie Klapstein, the spokesperson for the Department of Taxation.
The emergency regulations will be considered for adoption by the Nevada Tax Commission on July 13.
http://news3lv.com/story/gov-sandoval-endorses-dept-of-taxation-statement-of-emergency-for-pot-regulation
Liquor distributors not ready declined inspection
Saying that some recreational marijuana stores risk running out of fresh supply in a matter of days, the Nevada Department of Taxation is seeking an emergency regulation that would pave the way for opening up the distribution role to more than just liquor distributors.
The department issued a statement Friday saying Gov. Brian Sandoval is supportive of their regulation, which still needs final approval from the Nevada Tax Commission at its July 13 meeting. They noted that no liquor distributors have been issued state licenses yet, and one that awaited a final facility inspection this week told the department they weren’t ready and declined the inspection.
“The business owners in this industry have invested hundreds of millions of dollars to build facilities across the state. They have hired and trained thousands of additional employees to meet the demands of the market,” the agency said in a statement. “Unless the issue with distributor licensing is resolved quickly, the inability to deliver product to retail stores will result in many of these people losing their jobs and will bring this nascent market to a grinding halt. A halt in this market will lead to a hole in the state’s school budget.”
Wholesale marijuana taxes are devoted to the main public education fund, the Distributive School Account, while an estimated $64 million in recreational marijuana excise taxes over the next two years is dedicated to the state’s reserve account. Industry members estimated raking in roughly $3 to $5 million in gross receipts over the first weekend of legal sales, which began July 1.
The move is the latest volley in a months long dispute between the taxation agency and smaller-scale liquor distributors, who say the ballot measure approved by voters in November gives them an exclusive right to transport the product from cultivation and production facilities to retail stores for the first 18 months of recreational sales. A judge sided with them in a court battle, ordering an injunction that prohibits non-liquor licensees from getting a distribution license for the time being. The matter is being appealed at the Nevada Supreme Court.
While groups including the Nevada Dispensary Association have publicly stayed out of the fray, dispensaries are eager to keep sales rolling to recoup their heavy capital investments. If they prevail, marijuana companies could be fully vertically integrated — meaning entities with the same owners could be involved in cultivation, production, delivery and retail sales.
Liquor distributors say they want to be involved to provide a layer of independence in the supply chain, similar to the liquor industry’s Prohibition-era three-tier system where ownership in multiple tiers is banned. Kevin Benson, a lawyer representing the Independent Alcohol Distributors of Nevada, didn’t immediately respond to a request for comment on Friday’s development, but said in an interview earlier this week that the taxation agency has rushed the process in an apparent attempt to make it prohibitively difficult for liquor distributors to claim their first dibs.
Seven liquor distributors have applied to get involved in marijuana distribution. The proposed regulation would create a structure for the taxation department to determine whether there are an insufficient number of liquor distributors to serve the market based on factors such as historical demand for marijuana and operational needs of dispensaries including 24-hour deliveries. That could pave the way for marijuana businesses to enter.
Vagueness in state regulations on how to make that determination of insufficiency was one of the flaws cited by the judge who ordered the injunction. Taxation officials argue they need to act now, saying reports indicate demand is “already far exceeding the industry’s expectations at the state’s 47 licensed retail marijuana stores, and the reality that many stores are running out of inventory.”
“We continue to work with the liquor wholesalers who have applied for distribution licenses, but most don’t yet meet the requirements that would allow us to license them,” they added.
https://thenevadaindependent.com/article/citing-dwindling-pot-supplies-state-seeks-emergency-regulation-to-open-marijuana-distribution-beyond-liquor-companies
Smokin' hot start for dispensaries
Nevada marijuana dispensaries off to smokin' hot start
USA TODAY NETWORK Jenny Kane, Reno Gazette Journal Published 1:15 a.m. ET July 7, 2017 | Updated 1:15 a.m. ET July 7, 2017
RENO — The four Reno dispensaries licensed to sell recreational marijuana each raked in "hundreds of thousands of dollars" in the past four days from the state's first legal recreational marijuana sales, according to Will Adler, executive director of the Sierra Cannabis Coalition.
The Nevada Department of Taxation will not release numbers for state revenue from recreational marijuana sales until late September, according to department spokeswoman Stephanie Klapstein, but industry leaders said sales were on par with expectations for the first week.
Nevada Dispensary Association Executive Director Riana Durrett "very roughly" estimated that Nevada made $1 million from taxes between Saturday and Tuesday, and dispensaries as much as $3 million.
"Naturally, it will drop off because the first day was a novelty," Durrett said. "I think (sales) will stay healthy because this market exists now, and I think people will be relieved to come out of the shadows."
Other states that had legalized recreational pot eclipsed Nevada's estimated numbers.
Oregon dispensaries made $3.2 million on the state's first day of sales and more than $11 million in their first week, according to a 2015 article in Time. Colorado dispensaries made more than $5 million in their first week, although Washington dispensaries didn't make $2 million until four weeks in, the same article said.
On a local level, however, Reno's green team was thrilled.
"Reno had bigger numbers than Las Vegas" per dispensary, said Sierra Cannabis Coalition's Adler. Granted, Reno had four dispensaries partaking in the early start progra, while Las Vegas customers had about 40 to choose from.
"(Customers) were a part of history — prohibition is over," said Mikel Alvarez, spokesman for Blum, a company which has one dispensary location in Reno and three in Las Vegas.
The Reno location served 1,000 customers and made $100,000 in sales during the first 24 hours, starting at midnight Saturday. The company's three Las Vegas locations brought in $90,000 in their first 24-hour stretch.
Not only did Blum have far more competitors in Las Vegas, but some of the other shops featured everything from celebrity appearances to fireworks.
"That's just not us," said Alvarez.
Mynt, another Reno dispensary, made $300,000 by Tuesday, according to co-owner Joey Gilbert. In its first day, Mynt had 900 customers, with the latter days attracting upwards of 700 people.
"There's been a line all day every day, but it's down to 20 to 30 minutes," Gilbert said. "Sure, we're all competitors, but it's good to see everyone doing well."
https://www.usatoday.com/story/money/nation-now/2017/07/07/nevada-marijuana-dispensaries-off-smokin-hot-start/458107001/
Buyers feast on cheap shares
Just another OTC market maker short selling scam
Understanding Market Makers
By Justin Kuepper
Market makers play a big role in over the counter markets like the OTC-BB and Pinksheets. Often times, there is not a lot of liquidity and trading volume in these markets, which creates a need for market makers to step in and create a trading environment. This article will explore how market makers function, especially in the OTC markets where they play a vital role.
What are Market Makers?
A market marker can be an individual or firm whose function is to help make a market for a security, by making bids and offers for their account in the absence of public buy or sell orders. These moves are designed to ensure that market transactions are as smooth and continuous as possible, removing any sudden surges and ditches due to buying and selling imbalances.
Unlike the NYSE’s specialist system, the Nasdaq OTC market passes orders from one market maker to another. These market makers compete with one another to buy or sell stocks to investors by displaying quotes and are obligated to buy and sell at their displayed bids and offers. They profit just like a book maker in Vegas by taking advantage of the bid and ask spreads.
Market makers regulate risk by increasing the spread between the bid and ask prices. When a security exhibits extreme volatility, market makers will increase the spread to give themselves a wider margin for error. Conversely, the spread is narrowed as demand increases and competition between market makers heats up for business.
How to Watch Market Makers
Investors can view the bid and ask prices from various market makers via so-called Level II screens. Some brokers provide this information for free for active traders, while investors can also purchase the information via subscription for around $49.95+ per month. The information can help day traders decipher spreads and determine motives among market makers.
Some investors try and profit from the motives of market makers. Sometimes, market makers will post an attractive price but with a limited number of shares. The result may be an investor that puts in a large order and gets it filled at less-attractive prices. Conversely, market makers may put in large “phantom orders” – never intended for execution – to create psychological resistance levels.
A Final Word on Market Makers
Contrary to popular opinion, being a market maker isn’t a license to print money. Market makers face several risks by being required to buy and sell at bid and ask prices. Often times, market makers lessen these risks by hedging their positions through short selling and swap agreements. These efforts can sometimes be misconstrued by individual investors to be “market manipulation”.
Despite their flaws, market makers provide an invaluable service for many OTC companies that have little or no trading volume. By creating a market for the stock, they ensure that any individual can step in and purchase stock, even if there are no willing buyers or sellers otherwise.
http://www.theotcinvestor.com/understanding-market-makers-089/
State appealing distributor decision
State appealing decision limiting pot distribution to liquor licensees; State Supreme Court grants speedy timeline
Michelle Rindels
July 5th, 2017 - 3:19pm
The Nevada Department of Taxation is appealing a decision that limits marijuana distribution to liquor distributors, and the state Supreme Court has agreed to an expedited timeline for the court proceedings.
The high court’s decision came Monday, after a blockbuster first weekend for recreational marijuana sales. Some had feared that the lower court ruling would delay the July 1 start date — it specifies that only liquor licensees can transport pot from cultivators or manufacturers to retail stores, and none of the five liquor distributors that submitted applications have final approval from the state to do so.
Nevada Department of Taxation spokeswoman Stephanie Klapstein said the state is getting close to issuing distribution licenses, with some just needing a final inspection of their facility. In the meantime, dispensaries are selling existing inventory of medical marijuana to recreational marijuana customers.
Democratic Sen. Tick Segerblom estimated last week that dispensaries have a 30-60 day supply of marijuana and wouldn’t immediately run out if distributor licensing was delayed.
A group of distributors who brought the original case — the Independent Alcohol Distributors of Nevada — say language in the ballot measure approved by Nevada voters in November gives them exclusive rights to distribution licenses for 18 months. They fought, and won an early battle, against a provision that would allow state taxation officials broad discretion to declare there weren’t enough liquor distributors to handle the state’s workload.
A Carson City judge’s decision means marijuana businesses can’t be licensed as distributors and become vertically integrated, at least for now. Liquor distributors argue that they’re needed to ensure integrity in the process and create more independence in the supply chain in a manner similar to the three-tier system that governs the liquor world.
The medical marijuana industry in Nevada already is vertically integrated, meaning manufacturers, cultivators and retail stores can all be owned by a single person or business entity. There is no specific license for distributing medical marijuana, while there is such a category in recreational marijuana.
An order signed by Chief Justice Michael Cherry gives up to 50 days for both sides to submit briefs and responses in the case, although the process could wrap up more quickly.
Kevin Benson, who represents liquor distributors in IADON, said the Department of Taxation rushed the recreational marijuana regulatory process and made it overly difficult for liquor distributors to claim their exclusive spot in the supply chain. He noted the liquor distributors are making major investments to get in the marijuana business quickly, and their ability to keep a hold on their distribution for a full 18 months and recoup their investment, is now in the court’s hands.
“If that exclusivity is lost, it would be a significant blow to the liquor distributors,” he said.
https://thenevadaindependent.com/article/state-appealing-decision-limiting-pot-distribution-to-liquor-licensees-court-grants-speedy-timeline
The video chart posts never help a rally
Nevada mj sales exceeding stores’ expectations
Marijuana sales in Nevada exceed stores’ expectations
POSTED 2:38 PM, JULY 4, 2017, AP, UPDATED AT 02:39PM, JULY 4, 2017
LAS VEGAS — Recreational marijuana sales have exceeded the expectations of Las Vegas area store owners, who have seen long lines outside their dispensaries since Saturday, when Nevada became the fifth state with shops selling pot to the public.
That move jumpstarted a market projected to be fueled by the tens of millions of visitors that Sin City welcomes each year.
Eager pot customers on Monday again lined up before dispensaries opened their doors. Some were looking to make their first purchase since Saturday, and others were shopping for seconds. Tourists and locals alike have taken advantage of the change in state law.
“I’m a very happy with the way sales have gone and continue to go, especially when you consider that the word didn’t really get out ahead of time.” said Andrew Jolley, president of the Nevada Dispensary Association and a store owner. “The public really only had a couple of weeks’ notice, whereas Colorado had a full year to prepare.”
Nevada voters approved legalizing recreational pot in November, but regulations needed before the sales could start weren’t approved until the past two weeks. The state later this week will release a report regarding the unannounced enforcement inspections that were conducted Saturday at dispensaries across the state.
The demand for recreational marijuana has been such that dispensaries had to turn away customers in line over the weekend, and at least one extended its hours of operation. Dispensaries reported wait times of 45 minutes to an hour Saturday afternoon and up to 20 minutes Sunday.
The Euphoria Wellness dispensary had 50 people waiting to make purchases midmorning Monday. Its marketing coordinator, Jim Ferrence, said budtenders helped at least 1,000 customers during the first two days of legal recreational pot sales.
Customers on average bought a quarter of an ounce of marijuana flowers and a sampling of various edibles and concentrates, Ferrence said. “Everyone was calm, cool and collected. No unruly crowds at all,” he said.
Those 21 and older with a valid ID can buy up to an ounce of pot. As of Friday, the state had licensed 44 dispensaries to sell recreational marijuana. Thirty-nine of those shops are in the Las Vegas area.
More than 42 million tourists flock for business and pleasure to Las Vegas every year. They along with visitors to the rest of Nevada are expected to make nearly two of every three recreational pot purchases in the state.
But people can only use the drug in a private home as it remains illegal to consume it in public, including the Strip, hotels and casinos. Violators face a misdemeanor citation and a $600 fine.
Fifteen tourists on Monday hopped on a bus for a three-hour tour of dispensaries in the Las Vegas area. The “Cannabus” took the visitors to two stores with whom they have an agreement to allow riders to skip the lines.
The recreational marijuana sales did not cause Las Vegas police a headache over the weekend. The department did not deploy additional officers and does not track misdemeanor citations, Officer Larry Hadfield on Monday said.
“It was business as usual,” he said. “Everything went smooth as far as we can tell.”
The state stands to earn millions from the sales of recreational marijuana, but the tax collection data won’t be available for several weeks.
Nevada joins Colorado, Oregon, Washington and Alaska in allowing adults to buy the drug that’s still banned by the federal government. The market in the Silver State is expected to outpace all others in the U.S., at least until California starts its sales.
“With all due respect to Denver, Seattle, and Portland, Las Vegas is already the party capital of the world, and this is just an extension of that,” Ferrence said. “There’s no question that the demand is ever going to relent.”
http://fox6now.com/2017/07/04/marijuana-sales-in-nevada-exceed-stores-expectations/
Let the good times roll !
Let the stories be told Let them say what they want
Let the photos be bold Let them show what they want
Barchart gave a 56% buy signal today
Terra Tech Corp (TRTC)
0.2395 +0.0518 (+27.60%) 07/03/17 [OTHER OTC]
POST-MARKET 0.2390 -0.0005 (-0.21%) 13:02 ET
BARCHART OPINION for Mon, Jul 3rd, 2017
Overall Average:
56% BUY
Overall Average Signal calculated from all 13 indicators. Signal Strength is a long-term measurement of the historical strength of the Signal, while Signal Direction is a short-term (3-Day) measurement of the movement of the Signal.
https://www.barchart.com/stocks/quotes/TRTC/opinion
Sales surpassed any of our expectations
As most of you know yesterday adult use cannabis became legal to sell in Nevada and team Terra Tech killed it! The sales surpassed any of our expectations. To put it in perspective; in 2011 our company's total revenue was about $500,000. Yesterday through our 4 retail facilities in Nevada and our continued strong performance in Oakland we did about half what we did in all of 2011 in a single day! That doesn't happen without an amazing team at Blum, and strong back office, and obviously a ton of work. Nevada will be one of the major growth drivers for the company in the coming years and we are fortunate to have this opportunity because of the countless hours we've spent on securing these permits, building the facilities and most importantly training and developing our staff who executed with perfection yesterday. Also thank you to our shareholders who have stood by us over the last few years, it's always tough to be patient when in the building phase but now we begin to harvest the fruits of the work we have done. We look forward to an exciting second half to 2017!
Derek Peterson
CEO
https://www.facebook.com/terratechcorp
CNN : Long lines in Nevada
" I'm shocked I got a receipt for marijuana."
Long lines in Nevada as recreational marijuana goes on sale
By Andreas Preuss, CNN
Updated 6:08 AM ET, Sun July 2, 2017
(CNN)Fireworks, long lines and even a wedding marked the start of recreational marijuana sales in Nevada.
At midnight Saturday, legal pot went on sale -- making Nevada the eighth state to allow the purchase of marijuana in dispensaries.
Nevada's law lets adults 21 and older to possess up to an ounce of marijuana. The law was approved by voters in November 2016.
http://www.cnn.com/2017/07/02/us/nevada-recreational-marijuana-goes-on-sale/index.html
Let the good times roll
Let the stories be told Let them say what they want
Let the photos be bold Let them show what they want
Long lines greet recreational mj
Tourists, locals buy Nevada's legal recreational marijuana
BY REGINA GARCIA CANO AND JOHN LOCHER
Associated Press
LAS VEGAS
Cheers and long lines of tourists and locals alike greeted the first day of sales of recreational marijuana on Saturday as Nevada became the fifth state with stores selling pot to the public in a market that is expected to outpace all others in the U.S. thanks to the millions of visitors who flock to Las Vegas each year.
Veteran consumers, first-timers, twenty-somethings and retirees were among those who defied triple-digit temperatures before they made it into stores across the Las Vegas area, some of which opened shortly after midnight and later provided free water, live music, valet parking and coveted promotions on their valuable product. Eager employees guided customers and answered questions from product potency to Nevada's consumption regulations.
Minnesota resident Edgar Rosas Lorenzo on Saturday flew with his family to Sin City for his sister's wedding. But even before he checked in to his hotel, he stopped at a dispensary on the Las Vegas Strip.
Lorenzo, 21, said he learned of the legalization of recreational marijuana in Nevada while he was at the airport waiting for his flight to depart. He drove with his sister and soon-to-be brother-in-law from the rental car facility in Las Vegas straight to the dispensary. They waited in line about 40 minutes before he could buy one-eighth of an ounce of marijuana and hemp wraps.
"It was worth the wait. I'm going to come get some more tomorrow," Lorenzo said after paying about $60 in cash at Essence dispensary. "It helps me sleep. I get back pain. I have a slipped disk."
Some dispensaries took to social media to spread the word or tried to draw in buyers with special events. Some gave away free marijuana to their first 100 customers, and at least one entered buyers into a raffle for free pot for a year.
Those 21 and older with a valid ID can buy up to an ounce of pot. As of Friday, the state had licensed 44 dispensaries to sell recreational marijuana. Thirty-nine of those shops are in the Las Vegas area.
Tourists — 42 million of which stop in Sin City every year — are expected to make nearly two of every three recreational pot purchases in Nevada. But people can only use the drug in a private home as it remains illegal to consume it in public, including the Strip, hotels and casinos. Violators face a $600 fine.
"I have yet to figure that out," Lorenzo said of where he will smoke the weed he got at the Essence dispensary, which along with others had stacks of pamphlets stating the regulations in every checkout station.
Meanwhile, Kristin Deneal got in line outside a pot shop at 5:45 a.m., after a different store that opened at midnight closed before she could make a purchase. She brought a folding chair and sat by the door, striking conversations with the security guard and others as the line continued to grow before doors opened at 9 a.m.
Deneal, a Las Vegas resident, said she is elated at being able to legally buy the drug that for decades she has had to buy through acquaintances. Smoking marijuana helps her cope with health conditions while also working a stressful job at a bank, she said.
"It looks like they have enough stuff for everyone, it's just a question of getting through the door," Deneal, 57, said.
State Sen. Tick Segerblom, one of the main proponents of marijuana legalization in Nevada, made the first purchase at The Source dispensary at a strip mall. Deneal and others followed. An hour after the door opened, at least 80 transactions had been recorded.
Some facilities are in strip malls, while others, in stereotypical Las Vegas fashion, are in neighborhoods shared by strip clubs. Some dispensaries have ATMs inside because they only accept cash transactions for marijuana.
Lorenzo immediately posted photos of his stash on Snapchat. His friends have said they're jealous and asked where he bought the products, he said, adding that he'll plan another trip to Las Vegas specifically to legally purchase marijuana, not to visit the city's world famous casinos.
"We just got here ... Instead of looking around in Vegas, I'm in a dispensary," he said.
In the afternoon, people walking along the Strip seemed to be obeying the state's ban on public pot smoking.
Recreational marijuana sales began shortly after midnight, just months after voters approved legalization in November, marking the fastest turnaround from the ballot box to retail sales in the country.
Hundreds of people lined up outside dispensaries that opened from 12 a.m. to 3 a.m. and had to turn away customers like Deneal. At Essence on the Strip, people were excited and well-behaved as a lone security guard looked on. A cheer erupted when the doors opened.
Despite the limits on where people can get high and restrictions on where the industry can advertise, dispensaries worked furiously to prepare for the launch. They stamped labels on pot products, stocked up their shelves, added security and installed extra checkout stations.
Nevada joins Colorado, Oregon, Washington and Alaska in allowing adults to buy the drug that's still banned by the federal government.
"I've been living in Vegas for 15 years, and I keep missing the cities that legalize marijuana and edibles. So I'm happy that it's here now," said Babs Daitch, who was waiting in line.
http://www.charlotteobserver.com/news/business/national-business/article159222519.html
Any luck ?
Just the usual 250% sales increase
Time magazine thinks its a good deal
http://time.com/4843050/recreational-marijuana-legal-nevada/
It's cooled down to 100 degrees today
Blum Reno has high expectations
250% sales increase
Dispensaries Have High Expectations for Recreational Pot Sales
http://www.ktvn.com/story/35774596/dispensaries-have-high-expectations-for-recreational-pot-sales?autoStart=true&topVideoCatNo=default&clipId=13450592