Crash Test, Dummy

Markets brace as hearts race.

Daily Recap

The intoxicating hemp beverage boom has expanded nationwide after taking root in the southeast and proliferating in regions without access to state regulated cannabis products. Minnesota, where adult-use sales could launch this year, is one of the few states that also regulates hemp-derived cannabinoid products.

The cannabis beverages market is rapidly expanding, projecting to grow from $1.7B in 2023 to $29B by 2033, for a CAGR of 32.6% . The category continues to gain traction after intoxicating hemp slipped through a loophole in the 2018 farm bill.

Drinks are preferred to other consumption methods given their social acceptance and recent innovations, such as nano-emulsion technology, and a variety of offerings have emerged, including seltzers, cocktails, and coffees.

Leveling the PA Field

Pennsylvania Democratic lawmakers introduced a bill that would allow farmers and other small agriculture operators to sell marijuana they cultivate to existing growers and processors if the state moves to legalize adult-use cannabis.

When adult-use cannabis is finally legalized in Pennsylvania, it is my belief that everyone should have accessible and equitable entry into the adult-use cannabis industry, including farmers and small enterprises.”

Lincoln Logjam

The path forward for a medical cannabis bill in the Nebraska Legislature appears more uncertain after a committee chair tasked his members with deciding what conditions would qualify for access and which forms of medical cannabis would be allowed.

The Legislature’s General Affairs Committee Chair described a comprehensive list of ailments as “everything but the kitchen sink,” and said “people were silent” on what conditions would apply when they overwhelmingly adopted MMJ in November.

“We make it legal for anything and everything, it’s essentially recreational marijuana at that point.”

Injured Reserved

North Carolina’s Senate president said this week that there’s little chance lawmakers will legalize adult-use cannabis this session but left open the possibility for progress on medical cannabis.

“I don’t know that the Senate will be passing anything initially in this session, I think we’re going to wait and see what comes out of the House.”

Stocks & Stuff

After a weekend of worry and premarket futures that were down as much as (another) 5%, fake news, jittery shorts and short-term oversold conditions combined to create a Monday with more motion than movement, which translated to Cannaland.

Below, we’ll talk tape, tariffs, and tactics, see how U.S. canna is positioned for a trade war, quantify a green shoot, check on the social mood, explore the viability of stock repurchases, and explain why big alcohol & tobacco need THC now more than ever.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional: $12M

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