Senators Having Conversations With Biden
As a reply to a question on Twitter asking how they would get POTUS and VP on board, Cory Booker stated that he and his Senate colleagues would be talking to the White House over marijuana legalization to get them behind his proposal. The key phrase is "would be" meaning they are not currently talking to the WH, but hope to. House Press Secretary Jen Psaki was asked at her own daily briefing about the administration’s position on the legislation and said “nothing has changed” concerning Biden’s position. Biden's original stance when he was running was that marijuana should be decriminalized, no one should be in jail for it, and states should have the right to legalize recreational. As long as Biden's stance is on marijuana at this point, the bill should be signed if it ever reaches his desk. That is the more difficult part.....to bring it to his desk. To get past the notorious filibuster, Dems need to convince at least 10 Republican senators on top of all the democrats to get past the senate. Schumer discussed the strategy to pass it in the Senate, where Democrats have a slim majority. He said the sponsors would be soliciting feedback on the legislation from colleagues and work to incorporate any requested “modifications” to advance the measure.
Verano Acquisition
Verano Holdings has agreed to acquire Sierra Well for $29 Million. Sierra Well owns two dispensary locations and two cultivation locations, all in Nevada. The dispensary locations are located in Reno and Carson City. “We’ve been operating successfully in Nevada since 2017 and have maintained focus on growing our presence in this highly attractive state. Following the completion of this accretive transaction, Nevada will become a core market for us. We are pleased to strategically expand our distribution in Nevada while partnering with a like-minded ownership group that has built a profitable business through sound operational management,” said George Archos, Verano Founder, and CEO. Verano now has 79 operational dispensaries and 10 cultivation facilities across 11-states.
MA Tracker
MA sales have remained flat for the past four weeks at $28 Million, which are all-time highs. The YoY change for this past week was 72%, and the annual run-rate for 2021 is $1.226 Billion for just adult use. Curaleaf, Green Thumb, and Ayr have the largest footprints in the state.
