This article was written under the Seeking Alpha investment team for CURALeaf. But IMO it also applies to this stock as well. Let's hope we get jolt in the next few weeks.
Pending legislation in Congress could benefit cannabis multi-state operators
Mar. 17, 2021 9:52 AM By: Jonathan M Block, SA News Editor
Within the next two weeks, it is likely the SAFE (Safe and Fair Enforcement) Banking Act will be reintroduced in the House of Representatives, a piece of legislation that can benefit multi-state operators (MSOs), BTIG says in a note.
Based on discussions with contacts in Washington, the firm says that reintroducing the legislation prior to April 1 means it will likely bypass committee hearings, speeding up a vote on the measure.
Because it has bipartisan support, BTIG believes the SAFE Banking Act can potentially pass both chambers of Congress by late summer.
The legislation potentially benefits MSOs in several ways, according to BTIG: the ability to deposit cash in U.S. banks; the ability to transact in credit cards instead of just cash which can translate to higher spending; increased public safety; and increased public health it would reduce the exchange of dirty cash.
"Separately, the MORE [Marijuana Opportunity Reinvestment and Expungement] Act could also get reintroduced by April 1st, but would likely have a much more difficult path to passing in the Senate," according to the note.
U.S. multi-state operators this morning: MedMen Enterprises (OTCQB:MMNFF) -4.7%; Curaleaf Holdings (OTCPK:CURLF) -0.9%; Acreage Holdings (OTCQX:ACRHF) unchanged; Harvest Health & Recreation (OTCQX:HRVSF) +1.2%; Cresco Labs (OTCQX:CRLBF) -0.6%; Green Thumb Industries (OTCQX:GTBIF) -1%.
