Mood Sours as Senate Sleeps

"I think that congress is pretty broken right now"

Daily Recap

The last week of July began just as the prior two weeks ended: slow and sloppy, with a steady stream of disappointment. After rallying 12% to start the second half of 2023, U.S Cannabis ETF MSOS fell for the seventh consecutive session today after what appears to be the latest example of ineffectual leadership at the federal level.

We’re talking, of course, about the inability of SAFE Banking to progress through the senate ahead of the summer recess, a modern tale of he said-he said between a couple of guys named Daines and Brown. How much of this is genuine fuckery vs. political theater remains to be seen but potential plot twists remain with time running out.

The NY-GOP Fun Police wants to ban any public consumption of cannabis, including smoking, vapes and edibles; Albania (which borders on the Adriatic) legalized medical cannabis (joining Ghana and Luxembourg in recent weeks); the NCAA will likely join the NBA in removing cannabis from their list of banned substances; VA and Defense Department officials don’t want our veterans to have the option of using cannabis to treat PTSD (true story, despite new studies demonstrating a reduced dependency on opioids) and Cookies is again coming under fire, as another investor group takes aim.

All that and more, below…

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ PT Volume: $25M

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