Moon Over Miami

U.S. canna stirs down south.

Daily Recap

Vice-President Kamala Harris’s office has been reaching out to people who received a pardon for cannabis possession under the president’s clemency proclamations to offer assurances that the DOJ certification process is going smoothly.

Jersey Boys

The top marijuana regulator in New Jersey is projecting “this is the year” that the state will “reach and surpass” $1 billion in annual cannabis sales, even as he throws cold water on the prospect of federal legalization “anytime soon.”

Tiger Tales

Missouri sold more than $1.4 billion worth of legal cannabis during the first year of adult-use sales, or about $1.13 billion in adult-use and another $280 million via MMJ.

Since the state’s first MMJ sales in October 2020, licensed retailers in Missouri have reported more than $2 billion in legal cannabis product sales.

Jesse Pinkman Knew

New research has found that daily users of crystal meth who turned to cannabis to manage cravings used the stimulant drug less, especially female users. The findings suggest a new harm-reduction strategy is needed for people who use illicit drugs.

“Our findings are not conclusive but do add to the growing scientific evidence that cannabis might be a beneficial tool for some people who want to better control their unregulated stimulant use, particularly for people who use crystal meth.”

Pot Panzers

German lawmakers will approve delayed legislation decriminalizing personal use of cannabis this week, paving the way for it to take effect on April 1, according to Health Minister Karl Lauterbach, per Bloomberg.

The law, set to pass the lower house of parliament by Friday at the latest, would allow adults to posses as much as 25 grams of cannabis, grow a maximum of three plants for private consumption and cultivate the drug as part of nonprofit cannabis clubs.

Stocks & Stuff

Cannaland entered our abbreviated week having endured a beatdown the previous fortnight, as U.S. cannabis ETF MSOS reset following it’s torrid start to 2024. We’ve monitored the influences and expectations that helped shape the recent price action, some of which seemingly shifted today.

Below, we’ll chew through the full slate of upcoming U.S. canna catalysts, update the flows, impact and opportunities coming out of a massive sector ETF rebalancing, look at the upcoming Germany vote, share updated weekly comps, and more.

All you’ve got to do is scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ PT Notional: $61M ($30M)

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