And now today, it’s been announced that The SAFE Banking Act will be reintroduced tomorrow 3/18/21
2021 is a different ballgame than 2016, but there are some striking similarities between what we saw happen in the cannabis sector in early 2016 and what we’ve seen thus far in 2021 — in addition, the temporal setup in 2021 for a future mania mirrors the setup in 2016
In 2016, we saw a large 420 rally in the cannabis sector in the March/April timeframe, followed by a selloff
Several months later in 2016, we experienced the last multi-month cannabis mania in America with the elections serving as the catalyst
In 2021, we’ve seen a large rally in the cannabis sector in Jan/Feb (with several days of mania) triggered by mere talk of MJ Legalization, followed by a selloff
The catalysts for the first multi-month cannabis mania in America since 2016 are definitely out there for us right now
The SAFE Banking of 2021 (MJ/Hemp/CBD) and CBD Legalization (Hemp/CBD)
So let’s see what Chuck and Mitch can do — the recent news about allowing earmarks for the upcoming infrastructure bill was a nice start, because it increases the probability of bipartisan agreement and passage
So let’s see what this Democratic-majority Congress can do for cannabis
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