The MSOS declined 10.8% last week, and there were over $4.0 million of outflows from the MSOS last week, bringing the total inflows for the mon of December to $27.6 million. Over the past 30 days, the index has fallen slightly and is down 4.9% for the YTD. A cautious approach is essential as we navigate the market landscape for 2024. The DEA's rescheduling decision looms large, with significant implications. A shift to Schedule 3 is critical; anything less spells trouble for cannabis stocks. The potential elimination of the 280E tax and the chance for these firms to elevate to premier exchange listings are potentially on the horizon; these developments promise a major shift for capital deployment into the industry. However, there's considerable ground to cover before these changes materialize, and much work remains to be done. This week in Washington D.C., the City Council unanimously approved a medical cannabis reforms package. This package includes tax relief for licensed cannabis companies.
High Altitudes and High Stakes: Navigating the Turbulent Skies of Air Travel with Cannabis
Going to visit relatives over the next few weeks?
When journeying by air, vigilance is paramount for those possessing cannabis, even amidst states sanctioning its use. Notwithstanding the permissibility of various articles at TSA checkpoints, cannabis remains under federal prohibition, encompassing specific derivatives such as CBD oil. Products containing THC below 0.3% or those sanctioned by the FDA are transportable. The TSA's principal concern lies with identifying threats to safety and security rather than actively seeking out cannabis. Discovering such substances obligates TSA agents to notify local authorities to determine subsequent actions. Certain airports provide 'amnesty boxes' for travelers to relinquish cannabis before undergoing security screening. These regulations are uniformly enforced, independent of individual state statutes regarding cannabis legalization.
Key Highlights:
- Federal Illegality of Marijuana: Despite state legalizations, marijuana remains federally illegal, including certain cannabis-infused products.
- TSA Regulations: Cannabis products with less than 0.3% THC or FDA-approved can be carried in luggage.
- Uniform Enforcement: TSA's response to marijuana is consistent across all states and airports.
- Safety Focus: TSA prioritizes safety and security threats, not actively searching for marijuana.
- Local Law Enforcement Role: Discovered marijuana is reported to authorities who decide further action.
- Amnesty Boxes: Some airports provide options to discard cannabis before security checks.
- Nationwide Application: These rules are applicable regardless of state marijuana laws.
OGI
Nothing to see here
Organigram Holdings Inc. (OGI) has appointed Greg Guyatt, previously with Phoena Holdings Inc., as its new Chief Financial Officer, effective January 8, 2024. Guyatt, with over 25 years of experience in finance, will oversee the Finance and IT divisions, reporting to CEO Beena Goldenberg. He succeeds Paolo De Luca, who served as Interim CFO after Derrick West's departure. Guyatt's appointment is part of Organigram's growth strategy, focusing on delivering strong financial results.
