LEGALIZATION in 2022
Halfway through 2022, only Rhode Island has legalized recreational marijuana sales through its Legislature. Efforts to push through adult-use legislation in Ohio, Hawaii, New Hampshire, and Delaware ran off the rails. Similarly, on the medical front, Mississippi is the only state to pass legislation establishing a program so far in 2022. Kentucky, Tennessee, Kansas, and South Carolina legislative efforts failed to pass. Those setbacks hardly mean that 2022 will be a year that bucks the recent rapid growth trend in state-legal markets. While most state legislatures have already adjourned for the year, legalization advocates in seven states are pushing forward with potential recreational or medical legalization referendums in November.
Legislation still alive in North Carolina and Pennsylvania
Ballot referendums are still alive in Maryland, South Dakota, Arkansas, Missouri, Oklahoma, North Dakota, and Nebraska.
HEXO has very little chance of surviving the shakeout of Canadian LP's
HEXO extraordinary shareholders meeting June 14, 2022
For some unexplained reason, TLRY bailed out HEXO for the time being, despite its financial trouble and poor management. Indeed, along with CGC, ACB, and TLRY, the stock has slumped over 90% from its post-legalization peak. Investors are begging for an update on Tuesday's Hexo performance at the shareholders' earnings. There is little hope of reviving sentiment in a space that has become overwhelmingly negative. The meeting will be the first under newly minted CEO and CFO Charlie Bowman and Julian Ivancsits.
