Daily Recap
Now that Germany has the authority to issue the licenses required to grow and trade cannabis for scientific purposes, the government can begin implementing the “second pillar” of its cannabis legalization law by trialing the commercial sale of cannabis in certain regions and cities.
The second pillar will allows Germans 18 and older the ability to walk into local shops to purchase cannabis, much like they’re able to do for beer or cigarettes.
Cuck Schumer
Even as the DOJ moves to reclassify cannabis as a lower-risk drug, bipartisan banking legislation that’s yet to face a full Senate vote is still desperately needed given the robberies and deaths that continue to plague this state-legal and all-cash industry.
It’s fate in the 118th Congress remains uncertain. Advocates hope SAFER Banking will be attached to another legislative vehicle but that depends on Senate Majority Leader Chuck Schumer, who has emerged as the single biggest disappointment on a long list of faux political canna champs.
Imagine That
Recent scientific advancements have shown that a lesser-known compound from the cannabis plant, cannabinol, may hold promise for treating neurological disorders such as Alzheimer’s and Parkinson’s disease.
Researchers at the Salk Institute discovered that not only does CBN protect brain cells from age-related damage, but its chemically modified versions could be even more effective. These findings suggest a new frontier in the treatment of traumatic brain injuries (TBI) and other neurodegenerative diseases.
Skol!
Minnesota officials expunged more than 57,000 records for marijuana convictions under the state’s legalization law, the Department of Public Safety Bureau of Criminal Apprehension (BCA) announced.
“We are pleased to be able to deliver on this legislative priority. Minnesotans will see changes to their records immediately and as additional expungements are made in the months and years ahead.”
Stocks & Stuff
It was a typical session in Cannaland, which is to say we got our standard out-of-the-gate dip lower, followed by a fair amount of meandering, grousing, second-guessing and hypothesizing before a late day push notched the belt of the good guys.
U.S. cannabis ETF MSOS ended the day +2%, after holding it’s primary uptrend.
Below, we’ll chew through today’s price action, take a deep dive on TerrAscend with Freddy Benson Gomes of ATB, tee up last licks for U.S canna earnings, check charts, finger flow, and almost guarantee tomorrow will be a super-lively ride for the space.
All that and more, just scroll down.
SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ PT Notional: $144M/$89M
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