Ground Game

Three yards and a cloud of puff.

Daily Recap

The slate of cannabis ballot referendums this November will be headlined by Florida, the third-most-populous U.S. state, where voters will decide whether to legalize adult-use marijuana through ballot measure Amendment 3.

A victory in Florida would be one of the top legalization events in recent U.S. cannabis history, trailing only California’s successful referendum in 2016, New York’s Legislature approving adult use in 2021 and President Biden seeking to reschedule marijuana.

Cali Sober

Governor Gavin Newsom’s controversial emergency ban on all hemp THC products in California was approved by the Office of Administrative Law on Monday, effectively shutting down a thriving product category within California’s cannabis industry.

Retailers will no longer be able to sell popular products like drinks made with hemp THC, an intoxicating cannabis compound and many types of medicinal products made with CBD, a nonintoxicating compound.

MO Lester Hemp

Sales of products containing intoxicating hemp-derived cannabinoids may resume in Missouri after a top state official indicated a change in enforcement priorities.

That move defies an order from Missouri Governor Mike Parson that led the state Department of Health to use state food laws as the legal basis for a wide-ranging embargo on intoxicating hemp products.

Land of Lincoln Benjamins

After not announcing the monthly totals for July, Illinois Department of Financial and Professional Regulation announced adult-use canna sales totals for July and August.

For the fifth-straight month, Illinois’ sales totaled at least $141 million. July sales were $143M and August sales reached $147M, which was the third-highest monthly tally since legalization began in January 2000.

Stocks & Stuff

Bulls bought the sloppy open in U.S. cannabis ETF MSOS and followed yesterday’s 5% rally with another one, before late-day profit taking cut today’s tally in half.

Below, we’ll top-line the landscape, digest a scary headline, touch on the technicals as the bulls attempt to chew through resistance, spy a potentially positive pattern for U.S. canna and see which international fan fave is taking their talents overseas.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional: $65M

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