Schumer's bill consolidation
Senate Majority leader Charles Schumer said he is looking to consolidate the various cannabis bills into one. We floated this idea in our recent Cannabis industry Black Book. We still need to see movement by 1H20 or the stock will climb a wall of worry, until the fundamentals take center stage.
Market share trends in Florida (TCNNF, LHSIF/AYRWF, CURLF, GTBIF, CCHWF)
The Florida Office of Medical Marijuana Use (OMMU) releases updated cannabis data every Friday.
For the week ending January 29th, the number of qualified patients in Florida’s medical marijuana program grew 0.5% WoW to 469,836 qualified patients with active ID cards. THC in mgs sold increased 6.0% WoW to 155.7 million mgs, CBD in mgs sold increased 6.8% WoW to 3.8 million mgs, and flower in oz. sold decreased 1.0% WoW to 52,670 oz. sold.
Florida’s medical marijuana marketplace has strong potential – the state’s medical marijuana program still has a runway for population penetration, edibles were just introduced to the market in August, and there’s a broad range of qualifying medical conditions, notably ‘severe and chronic pain.’ The rising tide that is patient volume growth lifts all ships.
Slow Start to 2021 in Canada
CGC is on the Hedgeye Best Idealist as a LONG.
Estimated retail sales in Canada for January 2021 is C$231 million; a 19% sequential decline from December and 52% YoY growth. The Canadian LPs were down last week and suspect that some additional profit-taking is in order this week too!
