TREES Corporation (CANN)

[Buck Russell]

We're still in the very early stages of anything that may be happening. If the movement here was political in nature, we're still 5 months away from elections and that's far too early to really predict anything with any accuracy. My thoughts were that there was an obvious change in the political winds, and there was some early traders hoping to get in if there's to be a repeat of the 2016 rush. So we saw some shares exchanging hands, and now we're seeing some waiting. I think we'll see some more bursts of activity over the next few months with the very earliest of any excitement happening maybe in September or October. I was looking for a mild price increase in August perhaps, with July being fairly boring.

There's also the volatility in the DOW to consider. Perhaps people are worried about how COVID is going to affect the economy and are playing these stocks closer to the chest. Most states are seeing increased numbers of cases and only a few states are seeing decreases. Uncertainty is an underlying force that controls everything but is impossible to track or gauge. Or maybe the people who wanted to get in early have done so and are now waiting.

Either way, I thought nothing of the volume coming back to these levels and expected it would happen. There's no driving force to keep the volume up or move the price upward. Mitch McConnell has said he's the Grim Reaper of any Democrat legislation, so there's no chance of any Democrat led pro-MJ bills even getting a Senate vote. Cory Gardner is the lone Republican trying to push MJ legislation as he's hoping to save his job, but Colorado is pretty confident he's out on his ass in November. Aside from him, no Republican has offered any real support of any bill that would make a positive move in this sector. There's a chance there's banking access is added to a second stimulus package, but McConnell has already said he won't support it, and I can't picture the Democrats pushing too hard on that particular issue when the big picture of the stimulus is more important.

It's also worth noting that 100k shares in a trading day is still higher than some of the daily volumes we've seen in the past. During the long doldrums before California legalized, a big day might be 30,000 shares. So there's still interest there, just not 2 million shares and $8pps worth.