NDAA Tracker
The chances of Safe being included in the NDAA seem very grim, as expressed by the MSOS down (-3.8%) yesterday on a massive spike in (+149%) in volume day-over-day. The MSOS is down 10% over the last three days. Yesterday it was Senator Jeff Merkeley of Oregon told Politico after caucus lunches that he was not able to get the Safe Banking Act accepted as an amendment to the Senate's version of the NDAA. He did add that the door has not completely shut for the Safe Act in the NDAA, but at the moment it is unclear if the bill will even go to conference. “I don't see the path,” Merkley said. “I don't think there are the votes for it when it doesn't have the support of our leadership.”
So this is where we stand heading into the conference committee report:
Positives:
- 21 State governors have publically said they want SAFE in the NDAA, including NY and NJ (Booker and Schumer home states)
- 5 Senators have written a letter to the Senate Armed Services Committee asking for SAFE to be in the NDAA
- 2 Senators from CO have written a letter asking for SAFE to be in the NDAA
- 41 of 100 Senators have signed on to SAFE so it looks to pass a straight-up vote regardless
Negatives:
- The Schumer/Booker team is holding it up for political purposes claiming to want more for the great good!
Amazing that two people can hold this up for political purposes. Today at 2 PM we will host Brady Cobb to talk about the current Cannabis Legalization Process and what the industry may look like in 2022 and beyond. Brady Cobb is the founder and former CEO of Bluma Wellness Inc. and One Plant Florida, acquired by Cresco Labs, Inc. (CRLBF) in April of 2021 for $213 million. Bluma Wellness owned and operated a vertically-integrated, licensed medical cannabis company in FL doing business as "One Plant Florida." One Plant Florida, located in Indiantown, Florida operated eight retail dispensaries throughout the State, and the State's first e-commerce and on fleet enabled next-day home delivery service.
Like many Cannabis Professionals/Advocates looking to bring an end to the War on Drugs (now including Rep. Nancy Mace, R-S.C., who just introduced #TheStatesReformAct,) Mr. Cobb's interest in medical marijuana began with his father, CW "Bill" Cobb, who, in the late 1970s and early 1980s, helped smuggle $300 million worth of marijuana into the U.S. and was sentenced to twenty (20) years behind bars. Years later, cannabis provided "Bill" mental and physical release toward the end of his battle with cancer. Brady Cobb has since taken a different path in promoting its benefits as an advocate for the legalization of cannabis in the United States!
Email questions for Brady Cobb to
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Click Here for access to the live webcast at the time of the event. Click Here for an Outlook calendar invite. |
Some of the topics on the call will cover:
- From an operator's perspective, why is SAFE an essential first step?
- If SAFE passes in the NDAA, what are the next steps?
- If it does not pass, what are the chances of it passing before the midterms?
- Any views on the FL market - increase competition/pricing/timing to go rec?
- Your view on interstate commerce and the DCC etc.
KY is Closer
Kentucky could become the next state to decriminalize adult use of cannabis. State Representative Nima Kulkarni, D-Louisville, pre-filed legislation on Nov. 29 that would remove criminal penalties for possessing small amounts of cannabis and give voters a chance to protect those provisions constitutionally.
Columbia Care MSCI Index
CCHWF is a USA Long.
Columbia Care was added to the MSCI Canada Small Cap index on Monday this week. Columbia Care is the first and only US based cannabis company to be added to a major benchmarking index. Columbia Care stock was up 11% following this news. The index has 196 constituents and covers approximately 14% of the market capitalization of Canada. The largest ETF which tracks the index trades under SCZ. “This is a landmark achievement for Columbia Care and the cannabis industry that opens the door for the global institutional investment community to gain exposure in a meaningful and established way. Our inclusion in MSCI index benchmarks is a testament to the quality, good governance and growth trajectory of Columbia Care, as well as our commitment to drive shareholder value,” said Nicholas Vita, Chief Executive Officer of Columbia Care. “We appreciate the credibility and visibility that accompany inclusion in an MSCI index. We are grateful to the NEO Exchange for their support since we began trading as ‘CCHW’ in April 2019, and are proud to be partnered with this senior exchange that enabled such a groundbreaking achievement.”
Trulieve Tampa Location
TCNNF is a USA Long.
Trulieve is set to open its 110th Florida location in Tampa. The dispensary will mark the company's 157th location nationwide. It will be located on North Dale Mabry Highway. The new location on North Dale Mabry Hwy will feature Trulieve's broad product selection, including the recently-launched TruTonic drink mixes and Muse Live Sauz Cartridges, which will launch December 1 across all Florida stores. Trulieve continues its expansion across Florida despite shrinking margins in the state. Despite this, Trulieve remains a leader in margins amongst Florida operators.
