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Thursday, April 27, 2023 1:41:45 PM
https://www.reddit.com/r/weedstocks/comments/1304w3m/safe_banking_act_timeline_and_implications/
Safe Banking Act Timeline and Implications
My timeline / stock price prediction is:
(1) SAFE Banking Act gets a hearing in Mid-May 2023, voted on in June-July 2023 (Assuming SOONER let's it get a vote, which I think he will because time is ticking down to the November 2024 election. Politicians need to campaign at least 12 months in advance)
I think this triggers language that satisfies exchanges. USA MSOS's will be able to uplist and CGC will close on "Canopy USA". I remember years ago Canopy Growth's legal team saying "Federally Permissible" will let them enter the USA.
There will be a big run-up arbitrage opportunity from OTC to NYSE/NASDAQ. We saw this multiple times with Canadian LP Cannabis TSX stocks in 2017/2018 and with Psychedelic stocks in 2021. MindMed MMED / MNMD a popular psychedelic stock on April 22, 2021 went +150% in 3 days once the S-4 uplisting was confirmed - I'm looking for the same type of volatility for USA MSO Cannabis stocks.
Do MSO's have to change their accounting to GAAP? And therefore is CURA / CURLF ahead in this sense? EDIT: Appears CURA was last to convert to GAAP
Big Alcohol, Big Tabaco and Big Pharma will start to announce strategic partnerships.
(2) HHS "Schedule 3 recommendation" in August 2023
6 months since October 2022 "expedited" direction by Biden was April 2023
(3) DEA takes 2-3 months to make it official in November 2023.
This address tax 280e. (or does SAFE Banking Act take care of this too?)
This way, Biden has 12 months to campaign for November 2024 USA elections.
(4) How I would play this news
I like TRUL / TCNNF as my top pick as Florida 2024 going rec will be absolutely massive, especially when being uplisted to NYSE / NASDAQ. As Kim Rivers of Trulieve is the only female CEO, I swear CNBC will want to have her on TV as the "Queen of Cannabis" or something along those lines.
I also think having MSOS 2024 Leaps (call options) is a good way to get a leveraged play. These can easily 10x or 20x if you buy yolo far out of the money $15.00 - $20.00 strike calls. Think about it, if MSOS even goes half way to $55.91 all time high that's $28.00. Call options would go deep into the money and IV Implied Volatility and Delta would work in your favour as the value of the contracts go up.
Do you agree / disagree?
Short Interest on Cannabis stocks must be so high right now, any piece of news will cause a mini short squeeze like we saw after hours MSOS +19%.
Handcrafted cannabis investments
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