Drip Dry

The thirst for liquidity continues.

Daily Recap

Florida Gov. Ron DeSantis vetoed a bill that would have banned intoxicating hemp-derived cannabinoids in the state yet he continues to steadfastly campaign against the upcoming adult-use cannabis ballot initiative in November.

His veto happened one day after Fox News released a poll that found that two in three Florida voters, including a majority of Republicans, support the legalization initiative, which makes it more popular among voters than DeSantis himself.

Greatest American Heroes

Bipartisan congressional lawmakers demanded that the U.S. Department of Veterans Affairs rescind a directive preventing doctors from recommending medical cannabis to veterans in legal states, arguing the recent rescheduling move amplifies the need to withdraw the “antiquated marijuana restrictions rooted in the racist drug policy.”

“This disrupts veterans’ continuity of care and unfairly bars veterans from accessing treatment their states have legalized.”

Enter Sandman

New York Gov. Kathy Hochul announced a trio of new appointments to lead the state Office of Cannabis Management after the resignation of the former Executive Director Chris Alexander, whose last day on the job was Friday.

The appointments come exactly a month after Hochul released a scathing state audit regarding New York’s adult-use cannabis rollout during a press conference, at which she also announced Alexander would not be reappointed to lead the OCM.

Achtung Baby

Two months after Germany partially legalized adult-use cannabis, the Bundestag has introduced a maximum limit for drivers. Following the recommendation of an expert panel commissioned by the Transport Ministry, the maximal level of THC in the blood of drivers is to be set at 3.5 nanograms per milliliter.

This is deemed to represent the equivalent risk of 20 milligrams of alcohol per 100 milliliters of blood, which is legal in Germany.

Stocks & Stuff

It was a quiet session in Cannaland as investors focused on fun suff like all-time highs in the S&P and left the complicated, catalyst-dependent arenas to others. U.S. canna ETF MSOS visited both sides of the flatline before finishing close to where it began.

Below, we top-line today’s price action, check the charts, eye the banking language in the House GOP appropriations bill, explore why other CPG categories are sizing up cannabis, update our weekly comps and tip-toe into Tuesday.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional: $48M

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