THE NEW DRUG CZAR GOOD FOR CANNABIS
President Joe Biden tapped Regina LaBelle to serve as the White House Office of National Drug Control Policy's acting head. LaBelle is director of the Addiction and Public Policy Initiative at Georgetown Law School's O'Neill Institute and served as chief of staff to the Obama administration's ONDCP director. Many think LaBelle’s appointment was positive from both sides of the cannabis debate. “I can’t think of a better, smarter steward to help re-elevate national drug policy during this time,” said Kevin Sabet, founder of anti-legalization group Smart Approaches to Marijuana. According to Politico, both Americans for Safe Access (which advocates for increased medical access to marijuana) and Drug Policy Alliance (which supports decriminalization of all drugs) said they back LaBelle’s appointment. They cited LaBelle‘s handling of drug issues in the past, specifically the opioid crisis — both in the Obama White House and during her time at Georgetown and her opened-minded thinking for why they support her appointment.
Cannabis inventory continues to build in Canada.
Canadian licensed producers added a record 220,461 kilograms of marijuana to their inventories in October, as seen in the chart below. Most of the crop grown outdoors is harvested in October. This is the first of October with outdoor licenses. The outdoor licensed growing area has more than doubled from 2.3M square meters in October 2019 to 5.8M a year later. The growing inventory levels could put further pressure on prices. 95% of the inventory is at the growers and processors, not the wholesalers and retailers. Inventory levels have soared in edibles as well. Packaged production of edibles increased 50% from the prior month while sales increased 13%. In October, the Canadian industry had 12.7M units of edibles in inventory compared to sales of 1.7M units.
CEO FIRESIDE CHAT - TRSSF
We are pleased to announce a call with Jason Wild, CIO of JW Asset Management and Chairman of TRSSF, next Friday, January 22nd, at 2 PM EST.
Mr. Wild is the founder and President of JWAM, an SEC-registered investment adviser with over $1 billion under management. Jason achieved early success by leveraging his background as a pharmacist to find undervalued specialty pharmaceutical companies and manage the firm's investments for long-term growth. After building a strong track record as a stock picker, Jason expanded his investment universe and applied his experience and extensive healthcare network to private market opportunities. He has since established himself as a highly respected investor and sought-after partner for public and private companies. Jason's 20+ year audited track record is a testament to his ability to generate quality deal flow, identify exceptional investment opportunities, and add significant value to portfolio managers and business partners to portfolio companies.
Watch live below
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