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I guess I called this one. My chart must be working.
Here's where it gets interesting. The big boys don't want it at 7 just yet, but it's going there.
Watch the big traders try to shake out the weak hands by dropping the price. I'm not falling for it.
IMO we will see 7 this week and it will close above 7 for the entire week. We are inching closer to something happening. The only thing that can turn this around is if DEA says take a hike, which I don't think will happen under the current administration. We are about two weeks away from MJ being placed on the Nov ballot in FL and then zoom.
If you don't think something isn't going to happen with MJ, you aren't following the news. Biden will do something before the election. https://www.marijuanamoment.net/biden-stands-to-gain-double-digit-political-support-if-marijuana-is-rescheduled-poll-of-likely-voters-shows/
Looks like everyone is seeing the political advantage of marijuana rescheduling. https://www.marijuanamoment.net/nikki-haley-says-she-will-go-with-the-scientists-on-federal-marijuana-rescheduling-saying-it-obviously-doesnt-belong-in-same-class-as-heroin/
Well we were .05 from my target of $7 today.
TRULIEVE finished up over 13% on the CSE. Some of the other MJ stocks were also up, one over 20%. This bodes well for the opening on Tuesday on the US exchanges. We will hit $7. Onward and upward.
The Biden camp is gearing up for 2024 within the next week, so we can expect some significant moves on marijuana shortly. I think Biden's strategy will be to do something regardless what the congress is able to do. IMO the strategy will be to do something by at least 4 months out from the election. That keeps it in the minds of the American voter just prior to the election.
CSE shows TCNNF up over 11% this morning.
CSE shows TCNNF up over 11% this morning.
Looks like the Canadian stock exchange is open today and tcnnf is trading up on Friday's news. That bodes well for a price increase on the US market for Tuesday. The US market has a lot more buyers, therefore I see the stock probably up by $1 in the next two days.
The number of registered medical marijuana patients continued to rise in Florida during fiscal year 2023, a state panel said in a new annual report.
Glad to see someone with a chart willing to go out on a limb with future projections. I think we are in the beginning of the good news which will drive us higher. Some catalyst coming, DEA, FL Supreme Court. After reading the FDA report I don't really see a reason for DEA to deny rescheduling, in fact they should place it in the same category as alcohol. Buckle up.
IMO, it is only a matter of time before the DEA issues their rescheduling memo. That may put some pressure on congress to move SAFE through quicker. They don't want to be left out. However, it may not be necessary for congress to act once the DEA reschedules, if they do. With the ruling coming soon in FL on the ballot initiative and the rescheduling possibility, the sky is looking rosey. IMO, We will hit 9 by the end of Jan or middle of Feb, regardless what the charts are saying. Don't follow my advice, do your own research. We all know that nothing gets done at Fed and State agencies between thanksgiving and New Years, so I look for a lot to happen this month.
That is the reason the stock jumped over 9% on Friday. Look for more to come in the days ahead. I don't see a retreat from these 6 levels unless the narrative changes.
Well, like everything else. This was my interpretation of what I've read. Don't bet the farm unless you do your own research. IMO, there will be a ruling issued before the end of Jan. That gives the court a little over two months to make a ruling, which is plenty of time to make a decision on this very simple issue. The issue has met all of the state requirements for being on the ballot so far. The oral arguments did not favor the State, but all we can do is wait.
It's not a requirement for the court, however, it appears it applies to initiatives that have met all the requirements for being on the ballot after the required signature are obtained. I wouldn't be surprised to see the abortion issue also assigned a ballot number since they also met the required signatures. The initiative can be removed at a later date if the court does not agree it is o.k., however, the court must issue an opinion by April or the issue automatically gets listed on the ballot. I have it from a pretty good source that the legalization issue must be ruled on by the court by April or it automatically appears on the ballot.
No later than February 2 of the election year, the Director of the Division of Elections shall assign and post the designating numbers for proposed amendments or revisions to the constitution that have been properly filed by February 1 of the year the general election is held. Thereafter, through the 91st day prior to the election, the Division shall assign and post designating numbers within 24 hours after a joint resolution or proposal for amending or revising the constitution from a revision commission, constitutional convention, or taxation and budget reform commission is filed with the Secretary of State.
From: Division of Elections. NEWS IS KING. So this is why I think we see a court ruling prior to the end of January.
When do justices have to decide on the initiative's outcome?
It's not clear when the court will rule on the challenge to the ballot language summary. The Florida Supreme Court has until April 1 to hand down a decision on the case.
However, if no decision is handed down, then the measure would be cleared to be on next year’s ballot. This was from an article in MSN-Tallahassee Democrat.
The court has until April 1 to approve or reject the proposed language. If they don't it will be placed on the ballot.
I think we'll see the FL Supreme Court issue their approval on the marijuana legalization issue by the end of January. It doesn't seem to be a very difficult issue to figure out. If you don't understand what the petition says, you don't need to be in office as Attorney General.
IMO, We will see the move by DEA to reschedule, as we count down to lift off. Everybody knows that unless the Biden admin does something, there will be no movement toward any marijuana legislation.
Countdown to blast off starting today.
Trulieve Medical Marijuana Dispensary
4218 Washington Rd., Evans
In 2019, Georgia eased restrictions on the sale of products containing low-dose THC, the psychoactive substance in cannabis. Entrepreneurs quickly competed to be among the state’s first official licensees permitted to sell THC products.
Trulieve was one of the first two companies to be licensed Georgia sellers, opening several stores in Georgia in rapid succession. Tim Morey’s Trulieve’s chief sales officer, told The Augusta Chronicle that “a lot off 55-plus communities, a lot of retired military, which are a lot of the individuals who utilize cannabis,” helped sway the company’s decision to open in Columbia County.
IMO, 2024 is the year we are headed much higher.
Interesting article on MJ displacing alcohol. https://www.marijuanamoment.net/marijuana-will-gain-millions-of-consumers-over-alcohol-with-sales-hitting-37-billion-by-2027-investment-bank-projects/
New CFO hired and starts in Jan.
Nice numbers this week in FL.138,600,972 mgs THC , 755,539 mgs CBC, 51,665.609 oz smokeable. Merry Christmas.
Two new locations approved in FL. Trulieve – Crawfordville Trulieve – Crestview
A lot of states wanting to amend the tax law for legal marijuana companies. https://www.marijuanamoment.net/florida-gop-senator-files-medical-marijuana-industry-tax-relief-bill-as-federal-280e-workaround/
I think we see re-scheduling before the election. Not sure if it will happen this year or the early part of 2024, but you can bet something will happen. Since Americans have a short memory, I would suspect that it might be closer to the election.
Thanks for the post. I just saw that. Great news. Long and steady, adding when I can.
Republican Representative David Joyce, who is a co-chair of the Congressional Cannabis Caucus, says he will file a bill “imminently” that, if passed, would amend the Controlled Substances Act to remove state-legal marijuana as a Schedule I drug, the same classification as heroin, Forbes’ Will Yakowicz reports. Marijuana grown and produced outside of the licensed market would remain illegal at the federal level, allowing states that do not want to legalize pot to keep prohibition in place, the author notes. The legislation has not yet been filed, but the draft is being called the “STATES 2.0 Act.” It is a “modernized” version of the STATES Act Joyce introduced in 2019.