A new beginning
A clear positive coming out of the NDAA/SAFE process is that Cannabis Legalization is now a TIER ONE issue in DC, and reform is likely much closer than in the 25 years since CA went medical. It's time for a new beginning, and as Hedgeye fan @shaleentitle and guest said on Twitter: "I see this as an opportunity for us to reset the conversation and craft a banking bill that we ALL support. It's not going to hurt anyone to create pathways for capital for small businesses, it shouldn't be controversial, and we can unite on this." Amen, Shaleen, let's do this! Mr. Market (aka the MSOS) is a discounting mechanism and correctly called that SAFE would not make it into the NDAA. It will likely also sniff out legalization's new path for cannabis investors. We will be monitoring how this plays out across the five major bills now before congress:
- The MORE Act would decriminalize cannabis at the federal level, and it’s already passed the House!
- The SAFE Banking Act would allow cannabis businesses to work with financial institutions and accept credit card transactions from customers.
- The Cannabis Administration and Opportunity Act was introduced by Senate Majority Leader Chuck Schumer and would officially END federal cannabis prohibition.
- The States Reform Act the first bill introduced by a Republican
- The HOPE Act, which was introduced just last week, would provide funding for states to expunge non-violent cannabis convictions.
Game on!
Industry themes and SALES update
Today we are hosting our monthly themes and sales update for November at 12:30 today. On the call we will discuss:
- Current sales trends in the USA
- The ongoing destruction of Canadian Cannabis
- Market share trends among Canadian LP's
- A closer look at PA
- What is a Cannabis MOAT?
- And more
Cresco Pensacola
CRLBF is a USA Long.
Cresco has opened its 44th dispensary location in Pensacola, FL. The dispensary will operate under Cresco's Florida brand called Sunnyside. The company will have a footprint of 12 locations in Florida with this new location. The dispensary is located near the Cordova mall near Pensacola Beach, a few blocks from interstate 110. "We're going deeper and expanding accessibility to our branded products in the two biggest medical markets, Florida and Pennsylvania. We're already the top seller of branded cannabis in Pennsylvania, and we're excited to expand access to those same amazing products to patients throughout Florida." said the company in a statement.
