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The Call @ Hedgeye | May 2, 2024

Cannabis Insights | Performance, NDAA Tracker (SAFE), CURLF  - dash
Cannabis Insights | Performance, NDAA Tracker (SAFE), CURLF  - dash2

NDAA Tracker - Safe Vote

Yesterday Colorado Senators Hickenlooper and Bennett released a press release pushing #safebanking to be included in the NDAA.  Consideration of the NDAA will resume on Monday at 3 PM. The vote to invoke cloture on an amendment is scheduled for 5:30 PM on the same day. If cloture is invoked, that will begin a 30-hour clock on the post-cloture debate. Cloture is a procedure that allows the Senate to vote to limit debate and end a filibuster—a political delaying tactic. Three-fifths of all senators—60 senators when all are present—must vote in favor of the motion to invoke cloture. During this time, senators can only offer amendments relevant to the Bill under consideration and submitted in writing before the cloture vote. In the outcome of the Safe Act being removed from the NDAA, there will likely be tax-loss selling into year-end. 

CuraLeaf

MJBIZ reports that Curaleaf Holdings continues to be hit with federal lawsuits in Oregon from customers claiming they required medical attention after taking CBD drops that contained THC. Seven suits now have been filed in U.S. District Court in Oregon to a mix-up of the company’s Select CBD Drops.