Petty Ante

Canna trades thin as earnings await.

Daily Recap

Maryland sold more than $87M of cannabis in its first official month of freedom; for some context, Missouri sold $100M its first month, while New York, which is three times the population of both of those states, sold $36M in its first six months.

The bicameral and bipartisan PREPARE Act has seemingly settled into the on-deck circle behind SAFE Banking for when congress returns from their August vacation…

…and if HHS/DOJ share their scheduling recommendation ahead of the election, as has been signaled, some believe PREPARE will emerge to help shape that framework.

Assuming, of course, the US government is still functioning and open for business.

As we await earnings in this tale of two tapes for the canna landscape, we expect we’ll learn a lot just by watching. It’s been said that A-students look forward to their report card, whereas C or D students just try to get past their report cards. Same thang.

The operating and financial landscapes aren’t easy and that’s before the onerous taxes, antiquated policies/ perceptions, or the boot of the man on the throat of this industry.

I would say, “I give these companies a lot of credit,” but you would know I was lying.

Nobody gives these companies anything, particularly credit, unless its usury, and if one thing has became crystal clear, it’s this: the operators and investors who find their way to the other side of this never-ending simulation will have earned their bounties.

In other news, Illinois adult-use cannabis sales hit $136M in June, which was the highest monthly total this year and the third-highest total ever, and their governor signed a supervised release bill to help drug war victims re-enter society; the industry is scaling back lobbying efforts; the lack of banking is killing social equity; Idaho (yes, Idaho) advocates are collecting signatures for MMJ; Rhode Island canna workers are looking to unionize; off-hours cannabis use doesn’t lead to elevated workplace risks (thank the fucking Lord); and there’s must-see canna-TV this Sunday night!

All that, and more, just scroll down…

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ PTN: 24 little millions

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