Gen Green
Demographics continue to shift.
Daily Recap
Younger Americans are increasingly using cannabis-infused beverages as a substitute for alcohol, with one in three millennials and Gen Z workers choosing THC drinks over booze for after-work activities like happy hours, according to a new poll.
The survey assessed the recreational preferences of 1,000 employed adults, finding more evidence that as the cannabis legalization evolves and awareness of alcohol-related harms spread, more and more youngsters are opting for canna over booze.
66% of American adults tried alcohol alternatives the past six months, and 24% said they’ve “at least partially” replaced alcohol with non-alcohol or cannabis-based drinks.
The Supremes
The U.S. Supreme Court granted a request to give cannabis companies suing the DOJ in an effort to overturn federal prohibition two more months to file their petition with the justices.
Lawyers for the canna firms said the extension was needed due to the “significant and complex constitutional issues” being raised, as well as the fact state governments and other experts who plan to file support briefs need a bit more time.
O-HIGH-O
When adult-use sales began in Ohio on Aug. 6, 2024, 98 dispensaries were allowed to operate for dual-use to sell cannabis to both medical and adult-use customers. There are now 162 dispensaries that have sold more than $702M in adult-use cannabis.
Stocks & Stuff
Turnaround Tuesday lived up to its name as tech stocks got slammed, led by a 3.5% decline in NVIDA. Some investors are pointing to the stretched valuations in tech, with the NDX 100 trading at 27 times expected profits in the next twelve months.
MSOS lost 12% on the session as the froth faded from the recent ripper. The U.S. canna ETF is still +111% vs. the June 23 low and +14% YTD—and still a generation away from levels last seen during the prior administration.
Below, we’ll synthesize the crosscurrents, eyeball base camp for the bears, monitor the hidden risks and agendas, talk some truth about Trump’s criminal justice record, pull on a delicate thread, and otherwise keep our cool in the late summer heat.
All that and more, just scroll down.
SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional: $67M
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