More Eyes on Canna

The animal spirits have started to stir.

Daily Recap

While past attempts to evolve Indiana’s marijuana laws have come up short, Indiana Democrats and some Republicans will once again seek to pass legislation legalizing cannabis during their 2024 session, which began today.

Indiana remains one of a dozen state holdouts that still don’t allow medical or adult-use cannabis, which is something they might wanna figure out quick if they hope to attract America’s best young minds to the Hoosier State.

Higher Learning

Colleges in states where adult-use marijuana became legal over the past decade saw a significant but short-term boost in applications from top-notch students—and they also got more applications overall. Those were the key findings of a new study that was recently published in the peer-reviewed journal Contemporary Economic Policy.

Cheese Please!

Wisconsin Republicans unveiled a plan to legalize non-smokable medical marijuana through state-run dispensaries staffed by government-employed pharmacists, with a limited set of conditions that could qualify patients for the program—all of which sounds incredibly painful.

The text of the legislation hasn’t been introduced yet but is expected “shortly,” as some GOP lawmakers said they would like to pass legislation “this Spring.”

Stocks & Stuff

After being the most talked ticker on Reddit over the weekend, U.S. cannabis ETF MSOS, which rallied 20% in the final few sessions of last week, digested those gains today and held on to an important technical level (several times) along the way.

Below, we’ll talk through today’s price action, review the current set-up through the lens of our four primary metrics, hear the latest on the political process, get an update on our weekly comps, and we observe animal spirits on the periphery.

All that and more, just scroll down…

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ PT Notional: $89M

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