Back Test

U.S cannabis retests technical levels.

Daily Recap

Medical cannabis sales in Arkansas hit a new annual high in 2023 with $283M in transactions. The Natural State’s 38 dispensaries finished the year on a strong note with $23.3M in November sales and another $25.6M during December.

Lobster Pot

Maine’s adult-use cannabis industry generated more than $200M in sales last year, which was 36% higher than 2022—but some cannabis business owners are growing concerned that the market may become oversaturated in the not-too-distant future.

Yuppie Salad

On the one-year anniversary of the opening of the adult-use marijuana market in Connecticut, state officials announced today that the Constitution State sold more than $274M in recreational and medical cannabis in 2023.

Stocks & Stuff

It was déjà vu all over again as U.S. canna stocks spent the better part of the session drifting lower on light volume before getting whacked in the last hour. MSOS ended the session down 6% as it retests a few important technical levels.

Below, we’ll chew today’s price action, talk through the trader chatter and see why, in the words of Roth Capital,

“2024 is shaping up as a momentous year ahead of federal regulatory catalysts, with likely rescheduling in the near term. U.S. cannabis remains a compelling value on fundamentals w significant upside on federal regulations.”

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ PT Notional: $64M

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