All Rise

More New Yorkers are getting high.

Daily Recap

As most of the wheels of the U.S. federal government remain halted after the budget impasse and shutdown that began on Oct. 1st, progress toward realizing the $32B cannabis industry’s D.C. wish list has also been stuck in time.

While some observers think it could be the summer before there’s a reckoning on the intoxicating hemp-derived THC products that several GOP lawmakers want to ban, the shutdown should have no impact on President Trump’s plans to reschedule cannabis.

Some Folks Like to Get Away 🎶

New York’s legal cannabis market posted its strongest month ever in August, with dispensaries bringing in $214M in sales. The new record was a sharp increase vs. July’s $162M and June’s $153M.

August 2024 totaled $104M, showing how quickly the state’s industry expanded year-over-year, and the OCM is projecting $1.8B in sales for 2025—but that figure could climb (much) higher if monthly numbers continue at this pace.

“We could be at $3 billion watch by the end of the year.” Kevin Brennan, OCM

The Hangover is Over™️

Nearly four in five adults who drink cannabis-infused beverages say they’ve reduced their alcohol intake—and more than a fifth have quit drinking alcohol altogether.✋

The poll from CrescentCanna surveyed customers about their behavioral trends found that 77% of their respondents reduced the amount of alcohol they’ve consumed since using cannabis drinks, including 21% who stopped drinking entirely.

The Senate Judiciary Committee Oversight of the Department of Justice

Stocks & Stuff

Turnaround Tuesday lived up to it’s name as early strength faded and the mainstay indices closed red, for a change. U.S. canna stocks followed a similar script, giving up early strength to up small, while US-listed Canadian operators closed firmly green.

VFF 0.00%↑ OGI 0.00%↑ SNDL 0.00%↑ ACB 0.00%↑ were among the winners.

Below, we’ll top-line today, reflect on the mirror image of 52H1, revisit old levels, talk through some top picks, ask a serious question that we have no way of knowing the answer to, and check the sales channel on both sides of the border.

All that and more, just scroll down.

note: there will be no Canna Confidential tomorrow as I’ll be at Hall of Flowers NY.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional: $80M

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