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.
Trulieve just made history by becoming the largest U.S. cannabis company thanks to an acquisition of Harvest Health & Recreation.
https://hightimes.com/news/trulieve-becomes-largest-us-cannabis-company/
Senate Majority Leader Chuck Schumer (D-NY) said he has an “agreement” with Sen. Cory Booker (D-NJ) not to let a cannabis banking bill move ahead of justice-focused marijuana legalization.
But the majority leader also said on Drug Policy Alliance founder Ethan Nadelmann’s podcast that he’s willing to consider letting cannabis banking advance through the National Defense Authorization Act if justice-focused provisions like expungements for past convictions can be added.
Schumer also said he’s had "a few conversations” with the White House about marijuana and that he plans to lobby President Joe Biden “heavily” to drop his anti-legalization stance.
Senate Majority Leader Chuck Schumer (D-NY) said he has an “agreement” with Sen. Cory Booker (D-NJ) not to let a cannabis banking bill move ahead of justice-focused marijuana legalization.
But the majority leader also said on Drug Policy Alliance founder Ethan Nadelmann’s podcast that he’s willing to consider letting cannabis banking advance through the National Defense Authorization Act if justice-focused provisions like expungements for past convictions can be added.
Schumer also said he’s had "a few conversations” with the White House about marijuana and that he plans to lobby President Joe Biden “heavily” to drop his anti-legalization stance.
Trulieve Completes Acquisition of Harvest Health & Recreation Inc. Creating the Largest and Most Profitable U.S. Cannabis Operator
October 1, 2021 at 6:30 AM EDT
https://investors.trulieve.com/news-releases/news-release-details/trulieve-completes-acquisition-harvest-health-recreation-inc?utm_medium=email&utm_source=rss_feed
How Will the German Elections Impact the Recreational Cannabis Market?
https://hightimes.com/news/how-will-the-german-elections-impact-the-recreational-cannabis-market/
According to Christian Lindner, the FDP’s power broker, known for his election slogan of wie est ist, darf es nicht bleiben (things cannot stay the way they are), the legalization of cannabis is the issue that will bring the new ruling coalition together.
we'll run whether it is germany or the US that gets the legal ball rolling...
Key US House panel approves marijuana legalization – again
https://mjbizdaily.com/key-us-house-panel-approves-marijuana-legalization-again/
The U.S. House Judiciary Committee on Thursday advanced the sweeping social justice-focused marijuana legalization bill known as the MORE Act in a first step toward passage in the full House.
But the Senate remains the high hurdle.
The Judiciary Committee approved the legislation in a 26-15 vote, with 24 Democrats joined by two Republicans voting yes and 15 Republicans voting no.
The House passed a similar version of the legislation by a 228-164 vote in early December.
The Senate didn’t take up the bill, however, so the process had to be started from scratch by the new Congress, which was seated in January.
Thursday’s vote comes a week after the full House passed a defense budget bill that includes landmark legislation to make it easier for banks to serve cannabis businesses.
thanks, Funman. Any estimates...?
The U.S. House of Representatives approved a bill enabling banks to do business with cannabis companies without fear of penalty, Bloomberg reports.
The so-called SAFE Banking Act would be a boon for marijuana companies, which have so-far used to deal in cash because of federal restrictions, which implied extra security costs and logistical problems.
The measure was approved by voice vote as part of the National Defense Authorization Act (NDAA) for fiscal year 2022.
Representative Ed Perlmutter, a Colorado Democrat, who had re-introduced the bill, in a tweet stated, the Act will strengthen the security of financial system.
https://seekingalpha.com/news/3742108-house-oks-bill-to-facilitate-banking-for-cannabis-companies?utm_campaign=rta-stock-news&utm_content=link-1&utm_medium=email&utm_source=seeking_alpha&utm_term=RTA+News+Smart
The U.S. House of Representatives approved a bill enabling banks to do business with cannabis companies without fear of penalty, Bloomberg reports.
The so-called SAFE Banking Act would be a boon for marijuana companies, which have so-far used to deal in cash because of federal restrictions, which implied extra security costs and logistical problems.
The measure was approved by voice vote as part of the National Defense Authorization Act (NDAA) for fiscal year 2022.
Representative Ed Perlmutter, a Colorado Democrat, who had re-introduced the bill, in a tweet stated, the Act will strengthen the security of financial system.
https://seekingalpha.com/news/3742108-house-oks-bill-to-facilitate-banking-for-cannabis-companies?utm_campaign=rta-stock-news&utm_content=link-1&utm_medium=email&utm_source=seeking_alpha&utm_term=RTA+News+Smart
The U.S. House of Representatives approved a bill enabling banks to do business with cannabis companies without fear of penalty, Bloomberg reports.
The so-called SAFE Banking Act would be a boon for marijuana companies, which have so-far used to deal in cash because of federal restrictions, which implied extra security costs and logistical problems.
The measure was approved by voice vote as part of the National Defense Authorization Act (NDAA) for fiscal year 2022.
Representative Ed Perlmutter, a Colorado Democrat, who had re-introduced the bill, in a tweet stated, the Act will strengthen the security of financial system.
https://seekingalpha.com/news/3742108-house-oks-bill-to-facilitate-banking-for-cannabis-companies?utm_campaign=rta-stock-news&utm_content=link-1&utm_medium=email&utm_source=seeking_alpha&utm_term=RTA+News+Smart
Amazon lobbies the government to federally legalize weed after the tech giant relaxes its drug testing as part of huge recruitment drive
The tech giant said it has endorsed the recently introduced Cannabis Administration and Opportunity Act
It has previously supported the Marijuana Opportunity Reinvestment and Expungement Act of 2021
Amazon also ended pre-employment screening for marijuana usage for former employees and applicants
https://www.dailymail.co.uk/sciencetech/article-10013235/Amazon-lobbies-government-federally-legalize-weed-tech-giant-relaxes-drug-testing.html
Amazon lobbies the government to federally legalize weed after the tech giant relaxes its drug testing as part of huge recruitment drive
The tech giant said it has endorsed the recently introduced Cannabis Administration and Opportunity Act
It has previously supported the Marijuana Opportunity Reinvestment and Expungement Act of 2021
Amazon also ended pre-employment screening for marijuana usage for former employees and applicants
https://www.dailymail.co.uk/sciencetech/article-10013235/Amazon-lobbies-government-federally-legalize-weed-tech-giant-relaxes-drug-testing.html
still living in green paradise thanks to Canopy shares.... Hopes you are still happy Happy, and I know you will like today's good news from Washington...
https://www.marijuanamoment.net/house-will-vote-on-marijuana-banking-reform-as-part-of-defense-bill/
House Will Vote On Marijuana Banking Reform As Part Of Defense Bill
The full U.S. House of Representative will vote on an amendment to protect banks that service cannabis businesses from being penalized by federal regulators, a key committee decided on Tuesday.
tide turning...
https://www.marijuanamoment.net/house-will-vote-on-marijuana-banking-reform-as-part-of-defense-bill/
House Will Vote On Marijuana Banking Reform As Part Of Defense Bill
The full U.S. House of Representative will vote on an amendment to protect banks that service cannabis businesses from being penalized by federal regulators, a key committee decided on Tuesday.
Only 10 days left to the German general elections (Sept-26), where pro-legalisation / liberalisation parties are still in the lead (52%), according to latest polls...
Here's an explanation article:
https://www.greenentrepreneur.com/article/378945
"In recent years Germany has taken over the title of cannabis capital of Europe, at least from a legal industry standpoint....
"Starting in 2017, every registered doctor in Germany has been permitted to recommend medical cannabis to suffering patients and those patients can purchase cannabis from a number of pharmacies.
"Being that Germany has the largest economy in Europe by far, and is home to over twice as many people as the State of California, the recent medical cannabis reforms yielded a cannabis industry revolution of epic proportions."
freeing the plant is happening over here in Europe....
Home-grow cannabis is set to be legalized in Italy, following a vote from MPs
Reform decriminalises the growth of up to four cannabis plants for personal use
Italy now one of first European countries to decriminalize recreational cannabis
https://www.dailymail.co.uk/news/article-9972709/Growing-cannabis-legalized-Italy.html
Gosh... we're on a tight wire.... (anyways, thanks for posting)
I am still hoping Germany will give a great boost with the general election in 17 days.
Latest polls show the ruling CDU down (from 36% in 2019 to 21% today). Their presesnt health minister is not a friend of cannabis, (I feel he has held back medical). Polls are showing he and his party (Merkel's party) are on the way out of power...
People want change.
Berlin observers are now talking of a coalition of the social democrats (shooting up in the polls: 25%) + Greens (17%) + the business party FDP (12%).
Greens and FDP want full legalisation. SPD wants decriminalisation.
"SPD is generally pro-reform but favours a more limited, cautious approach compared to the Greens. That's good news for the cannabis industry..."
If Germany legalises, let's not worry about the USA, because Germany (83m population) is the leader of central Europe. They will follow Germany. The population of the European Unions is about 450m....
So we are looking at a population larger than the USA, with disposable income, high living standards, and a history of cannabis growth despite authority being anti...
While the last months have been dark, I am hoping sunshine is on its way from Europe.
Thanks Funman for that good news .... now we are getting somewhere safer... alcohol has a bar, coffee has a cafe, ice cream has a parlour, cannabis deserves a lounge...
The Financial Times today (5-Sept): Share price forecast for Tilray...
The 17 analysts offering 12 month price targets for Tilray Inc have a median target of 17.00, with a high estimate of 27.00 and a low estimate of 1.27. The median estimate represents a 25.09% increase from the last price of 13.59.
Surge of Advocacy Groups Weigh In on Federal Cannabis Reform Bill
Some of the industry’s most prominent cannabis advocacy groups weighed in on the Senate’s Cannabis Administration and Opportunity Act.
https://hightimes.com/news/surge-of-advocacy-groups-weigh-in-on-federal-reform/
Surge of Advocacy Groups Weigh In on Federal Cannabis Reform Bill
Some of the industry’s most prominent cannabis advocacy groups weighed in on the Senate’s Cannabis Administration and Opportunity Act.
https://hightimes.com/news/surge-of-advocacy-groups-weigh-in-on-federal-reform/
Luxembourg has just spent €3m on 30 kilograms of medical cannabis – equating to the tidy sum of €100 per gram, reports Newsweed.
“The chosen offer is that of Canopy Growth Germany in collaboration with Tilray Germany. The products of the two suppliers come from Portugal and Canada,” said the Luxembourg Minister of Health Paulette Lenert in a written response addressed to a parliamentarian.
https://businesscann.com/did-luxembourg-really-just-pay-3-million-euros-for-30-kilos-of-medical-cannabis/?mc_cid=ed23ad2886&mc_eid=322e52e758
good news, thank you, Funman, and here is some more good news from Europe:
Luxembourg has just spent €3m on 30 kilograms of medical cannabis – equating to the tidy sum of €100 per gram, reports Newsweed.
“The chosen offer is that of Canopy Growth Germany in collaboration with Tilray Germany. The products of the two suppliers come from Portugal and Canada,” said the Luxembourg Minister of Health Paulette Lenert in a written response addressed to a parliamentarian.
https://businesscann.com/did-luxembourg-really-just-pay-3-million-euros-for-30-kilos-of-medical-cannabis/?mc_cid=ed23ad2886&mc_eid=322e52e758
welcome..
well said...
Earnings history & estimates
On Aug 06, 2021, Canopy Growth Corp reported 1st quarter 2022 earnings of 0.84 per share. This result exceeded the -0.270 consensus loss of the 7 analysts covering the company and outperformed last year's 1st quarter results by 1.14.
https://markets.ft.com/data/equities/tearsheet/forecasts?s=CGC:NSQ
Come on Canopy investors be Brave .... and be proud of being BRAVE
Canopy Growth posts surprise profit on marijuana demand
CNBC’s Morgan Brennan breaks down Canopy Growth’s recent performance and takes a look at the ETFMG Alternative Harvest EFT, which tracks marijuana stocks.
https://www.cnbc.com/video/2021/08/06/canopy-growth-posts-surprise-profit-on-marijuana-demand.html
Increasing pot demand and a larger market share will help Canopy improve its revenue and profitability in the second half, Lee said.
In a bid to turn profitable by this fiscal year, Canopy has also doubled down on its core Canadian market. Earlier in 2021, it bought rival Supreme Cannabis in a deal that made it the owner of four of the top ten marijuana brands in the country.
Canopy is also prioritizing higher-priced products such as premium cannabis flowers, pre-rolled joints and edibles, a move that is expected to improve its gross margins over the course of the fiscal year, finance chief Mike Lee said.
The focus on the higher-priced segment and cost cuts helped Canopy's adjusted gross margin expand by 14% in the quarter. Adjusted core loss narrowed to C$63.6 million, from C$92.2 million a year earlier.
Aug 6 (Reuters) - Canadian pot producer Canopy Growth Corp (WEED.TO) reported a smaller quarterly adjusted loss on Friday, as it benefited from cost cuts and a rise in cannabis use during the coronavirus pandemic.
People across North America have turned to marijuana for relaxation and entertainment during the months-long isolation caused by COVID-19, lifting sales of pot producers.
The sector has also drawn renewed investor interest as U.S. states legalize pot and hopes rise for federal marijuana reform, prompting Canadian pot producers to consider cross-border expansion plans.
"We continue to look at building out our position in the United States. We're not waiting around on permissibility," Canopy Chief Executive David Klein said.
The company's C$2.1 billion ($1.67 billion) of cash and short-term investments at the end of the first quarter are expected to help fuel the expansion, Klein added.
https://www.reuters.com/business/canopy-growth-loss-narrows-pot-demand-surge-cost-cuts-2021-08-06/
Out of my sick bed at last.... sad to see some Tilray shareholders didn't get out of their beds to vote...
have been rather sick lately, bedridden, and only today had strength to vote: FOR... I'm in my 70s, an old 'head' from the 60s, and like Twister most of my shares (Long) in Tilray will go to my children, grandchildren, and probably great grandchildren... hopefully a better world ahead for all of us.
spot on, Doog.... Cheers...
we're snookered...
now I understand...
Schumer admits marijuana legalization bill currently doesn't have the votes to pass
In an afternoon news conference, Senate Majority Leader Chuck Schumer (D-N.Y.) said that as it stands now, there aren't enough votes to pass the Cannabis Administration and Opportunity Act, a bill that would federally legalize marijuana.
https://seekingalpha.com/news/3715226-schumer-admits-marijuana-legalization-bill-currently-doesnt-have-the-votes-to-pass?mail_subject=ogi-schumer-admits-marijuana-legalization-bill-currently-doesn-t-have-the-votes-to-pass&utm_campaign=rta-stock-news&utm_content=link-3&utm_medium=email&utm_source=seeking_alpha
I give up... I don't understand markets... to me the Bill is a legalisation move forward, an expansion of commerce, and interstate trade...
the US must go for import / export (imagine if they did not allow the post-prohibition US alcohol businesses to export worldwide... imagine no Bud or Bourbon sold to Europe)
Happening today:
https://www.marijuanamoment.net/here-are-the-full-details-of-the-new-federal-marijuana-legalization-bill-from-chuck-schumer-and-senate-colleagues/
The first draft of a long-anticipated Senate bill to federally legalize marijuana has been released—and its sponsors are asking for public input to further improve the legislation before it is formally introduced.
Senate Majority Leader Chuck Schumer (D-NY), Senate Finance Committee Chairman Ron Wyden (D-OR) and Sen. Cory Booker (D-NJ) are unveiling the draft at a press conference on Wednesday. It’s an extensive bill, titled the Cannabis Administration and Opportunity Act, that weighs in at 163 pages.
The main features of the legislation largely align with what advocates and stakeholders expected. It would federally deschedule cannabis, expunge prior convictions, allow people to petition for resentencing, maintain the authority of states to set their own marijuana policies and remove collateral consequences like immigration-related penalties for people who’ve been criminalized over the plant.
The first draft of a long-anticipated Senate bill to federally legalize marijuana has been released—and its sponsors are asking for public input to further improve the legislation before it is formally introduced.
Senate Majority Leader Chuck Schumer (D-NY), Senate Finance Committee Chairman Ron Wyden (D-OR) and Sen. Cory Booker (D-NJ) are unveiling the draft at a press conference on Wednesday. It’s an extensive bill, titled the Cannabis Administration and Opportunity Act, that weighs in at 163 pages.
The main features of the legislation largely align with what advocates and stakeholders expected. It would federally deschedule cannabis, expunge prior convictions, allow people to petition for resentencing, maintain the authority of states to set their own marijuana policies and remove collateral consequences like immigration-related penalties for people who’ve been criminalized over the plant.
https://www.marijuanamoment.net/here-are-the-full-details-of-the-new-federal-marijuana-legalization-bill-from-chuck-schumer-and-senate-colleagues/
The first draft of a long-anticipated Senate bill to federally legalize marijuana has been released—and its sponsors are asking for public input to further improve the legislation before it is formally introduced.
Senate Majority Leader Chuck Schumer (D-NY), Senate Finance Committee Chairman Ron Wyden (D-OR) and Sen. Cory Booker (D-NJ) are unveiling the draft at a press conference on Wednesday. It’s an extensive bill, titled the Cannabis Administration and Opportunity Act, that weighs in at 163 pages.
The main features of the legislation largely align with what advocates and stakeholders expected. It would federally deschedule cannabis, expunge prior convictions, allow people to petition for resentencing, maintain the authority of states to set their own marijuana policies and remove collateral consequences like immigration-related penalties for people who’ve been criminalized over the plant.
https://www.marijuanamoment.net/here-are-the-full-details-of-the-new-federal-marijuana-legalization-bill-from-chuck-schumer-and-senate-colleagues/
Senate Majority Leader Chuck Schumer (D-NY), Senate Finance Committee Chairman Ron Wyden (D-OR) and Sen. Cory Booker (D-NJ) are unveiling the draft at a press conference on Wednesday. It’s an extensive bill, titled the Cannabis Administration and Opportunity Act, that weighs in at 163 pages.
The main features of the legislation largely align with what advocates and stakeholders expected. It would federally deschedule cannabis, expunge prior convictions, allow people to petition for resentencing, maintain the authority of states to set their own marijuana policies and remove collateral consequences like immigration-related penalties for people who’ve been criminalized over the plant.
“Cannabis prohibition, a key pillar of the failed war on drugs, has caused substantial harm to our communities and small businesses, and especially for communities of color,” Wyden said. “It’s as simple as this: Senators Booker, Schumer and I want to bring common sense to the federal government, end prohibition and restore the lives of those hurt most and set them up for opportunity.”
The bill would also impose a federal tax on marijuana products and put some of that revenue toward grant programs meant to support people from communities most impacted by prohibition who want to participate in the industry.
Further, the legislation would transfer regulatory authority over cannabis from the Drug Enforcement Administration (DEA) to the Food and Drug Administration (FDA), the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) and the Alcohol and Tobacco Tax and Trade Bureau (TTB).
There’s a lot of ground to cover on the proposal. And while the senators are confident that it addresses key concerns from stakeholders, advocates, public health officials and law enforcement alike, they recognize that this is not the final form the bill will take. To that end, a public comment period is open until September 1.