Conference Calls

The ATB canna confab hits NYC.

Daily Recap

New research says state-level medical marijuana legalization may significantly reduce health insurance costs. In states with legal MMJ, companies paid 3.4% less for health insurance premiums compared to illegal states, an annual savings of $238/ employee.

If all states were to implement medical cannabis programs, the study says, the country could save an estimated $29 billion in health insurance costs annually.

Penn Quaking

Among Pennsylvania’s six border states, all but West Virginia have legalized cannabis, allowing its sale and use for medical and recreational use. Pennsylvania has legalized cannabis for medical use, but continues to impose criminal penalties for possession of pot without a medical marijuana card.

Governor Josh Shapiro (D) said on Tuesday that he believes that legalizing adult-use cannabis makes sense from an economic perspective.

“There are Pennsylvanians who may be traveling out of state to purchase cannabis, and that’s something we want to be focused on doing here in our commonwealth.”

Cali Shaking

A scandal over California’s failure to keep pesticides out of legal cannabis is causing turmoil across the industry, with a whistleblower retaliation lawsuit, the departure of a top cannabis official, the state hiring a private investigator, and a race in the private sector to form a shadow regulatory system in the face of crumbling confidence.

Industry leaders fear those revelations give consumers another reason to opt out of the higher-priced, highly taxed $5-billion legal market in favor of the unregulated illicit market. Licensed sales in the Golden State hit a four-year low in September.

Georgia Peach

Nearly a year after the Drug Enforcement Administration sent letters to dozens of Georgia pharmacies warning them against dispensing MMJ in accordance with state law, at least one pharmacist—Vic Johnson, in Augusta—is telling them to Go Fish.

“It’s a new frontier and I really think pharmacies are an ideal outlet for dispensing medical cannabis, because if you come to my pharmacy already, we can talk about what medications you already are taking.”

Stocks & Stuff

It’s been painfully quiet for U.S. cannabis as the public reflection of our space waffles, stagnates and otherwise ignores the broader if not historic rally in risk assets ahead of several we’ll-believe-’em-when-we-see-’em sector catalysts.

U.S. canna ETF MSOS finished the session +1% but it was unimpressive price action.

Below, we’ll top-line the landscape, share our takeaways from the ATB canna confab, dig into the management change at AYR, check on cannabis credit and sniff at a hemp bill that is rumored to be heading our way.

All that and more, just scroll down.

note: Canna Confidential subs have been reduced by 33% to $5.99/mo., or $59/yr.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional: $50M

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