Inspecting Volatility

A wild day deserves a deeper look.

Daily Recap

Most of today’s news coverage focused on state level developments, such as what to expect while expecting in Ohio, the Pennsylvania FOMO, the Illinois rollercoaster, a triple shot in ‘Bama, the huge haul in New York, and that sorta stuff.

A coalition of military veterans is pushing President Biden to ensure that the ongoing administrative review into the scheduling status of cannabis is completed in a timely manner + steps are taken to counter misinformation when pursuing broader reform.

“As representatives of our nation’s Veterans communities, these issues of safe access and research could not be more important. The individuals who work every day to protect our great nation deserve every ounce of support as they tackle the physical and psychological impacts of their service as they return from active duty.”

Overseas, a final vote on a bill to legalize marijuana in Germany that was planned for this week will be postponed until next year—but as long as the measure advances by the end of January, the delay shouldn’t impact the schedule for legalization.

The real action today was under the hood, where the a midmorning flurry of activity sparked a wild ride for cannabis stocks and those who still own them. We sniff at a few of the potential explanations as to why volume—and price—thrust higher.

We’ll also chew through the timing + potential of Schedule III + SAFER, review a few upside rerating scenarios, share several more takeaways from MJBiz and take a fresh look at our weekly comp run.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ PT Notional: $115M

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