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Next Thursday we are going to dive deeper into what it would take to see meaningful cannabis industry growth which many companies gave long-term estimates during this earnings period. We will also dive deeper into how tough the market conditions really are for this decimated industry as well as which companies are over and underperforming following the industry's 2nd quarter results.
Cannabis > alcohol.
In a recent survey, Americans believe that cannabis has a more positive impact on consumers and society compared to that of alcohol use, and more interesting is the fact that cannabis users are much more likely to advocate for their substance use compared to that of alcohol users. "Overall, the marijuana poll found that Americans are evenly divided when it comes to questions about the effects of cannabis on individual consumers and society overall. Fifty-three percent of respondents said marijuana has a “positive” impact on the consumer (in contrast to 45 percent negative), and 49 percent said the plant is good for society (compared to 50 percent with the opposite view). Additionally, 27 percent of people said that alcohol is good for the individual drinker and 23 percent said alcohol is a societal positive. Fully 75 percent of Americans say booze is bad for society, and 71 percent say it’s no good for most individuals who consume it." Public perception has been drastically changing when it comes to cannabis use, and this study shows how far cannabis perception has come in the past few years. For a federally illegal and schedule 1 drug to be perceived better than a legal, everyday substance is pretty remarkable and shows that changes in needed at the federal level.
Tripping on Psychedelics.
Psychedelics are definitely on the rise, and they can thank the perception of cannabis in the U.S. for that. We have seen many states look to legalize or decriminalize psychedelics in their states as they remain federally illegal. There are not many places in the U.S. where the use of psychedelics are currently legal but that is not stopping many celebrities from coming out and saying how beneficial they can be. The stigma of talking about the use of schedule 1 drugs has diminished due to the federal government's handling of cannabis. "Last month in St. Tropez, the mental health nonprofit called Aurora Institute, co-founded by German billionaire Christian Angermayer, hosted a star-studded “evening of discovery” looking at the science behind psychedelics with Queen Latifah, Cameron Winklevoss and Robbie Williams in attendance. Actress and comedian Ali Wong has written openly about regularly doing shrooms and ayahuasca with her husband, while Green Bay Packers quarterback Aaron Rodgers recently credited “magic mushrooms” and ayahuasca for providing him with the mental clarity it took to score a $200 million contract extension. The wealthy and powerful are totally tripping." As the use of psychedelics becomes more normal, I cant wait to write on it more and eventually showcase which companies are ultimately best positioned to take on this soon-to-be emerging market.
