THE CONSUMABLES SHOW
We are hosting our weekly Consumables Show today, October 23rd @ 12 PM ET.
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Every Monday at 12 PM ET our Consumables Team will be hosting a live event where we will go through Timely and Topical events/data that have occurred in our respective industries, as well as preview the week to come. We hope that you can grab your lunch and join us as we break down the Restaurant, Consumer Staples, and Cannabis space.
We will explore a number of topics, including recent position monitor changes, top questions from client meetings, most frequent inbounds, pushback on our most recent calls, and updates on some of our best ideas.
cannabis black book invite
Glass House Brands (GLASF) is a Hedgeye Cannabis Best Idea Long.
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The cannabis industry has seen nothing but headwinds for the last couple of years, but momentum is starting to build, with the MSOS up 25% since September 1st. This all started when the HHS made a recommendation that cannabis should be rescheduled from a Schedule 1 drug to a Schedule 3 drug. Rescheduling is not a path to full legalization, but it could be the catalyst needed to push Congress to look at the SAFE Banking Bill on its merits and not as a political headline. Our Hedgeye Macro Team has also recently gone LONG cannabis during their 4Q23 Themes Presentation. There are still many structural issues with the cannabis space, but we believe that Glass House Brands (GLASF), the lowest-cost cannabis cultivator in the world, is the best way to have exposure to this industry.
INCLUDED IN THE PRESENTATION:
- California Retail & Whole Prices
- California Customer Demographics
- Current State Of California Dispensaries
- The Lawsuit Brought Against GLASF
- Where We See GLASF If Schedule 3 Happens?
- What Would Full Legalization Mean?
- SAFE Banking
- Interstate Commerce
- How GLASF Has Become The Lowest Cost Cultivator
Will Ohio Go adult-use?
Next month, on November 7th, residents of Ohio will vote to legalize adult-use consumption of cannabis in their state. Many believe that issue 2 will pass, but Ohio Senate President Matt Huffman said this earlier this month, “coming right back before this body” for lawmakers to amend. Huffman later clarified that he wouldn’t seek to repeal the legalization plan entirely but would instead “advocate for reviewing it and repealing things or changing things that are in it.” Other Ohio state Senators have come out and said that they doubt that a voter-passed legislation would get appealed. At this point, all we can do is wait and see what happens on November 7th.
