Quiet Riot

The low volume leakage continues.

Daily Recap

An overhaul of Ohio's cannabis law is now in the works after Ohio Senate Republicans passed Senate Bill 56 last week. The proposed changes include limiting THC content from a maximum of 90% to 70% and reducing the number of plants people can home grow from 12 to six.

Since Ohio's legalized adult use in August of last year, business has been solid, with $347M of adult-use cannabis sold since the launch.

Standoff at the O.K. Corral

A Texas Senate committee discussed a bill today that would ban all forms of THC, the primary psychoactive compound in cannabis. Texas Senate Bill 3, backed by Lt. Gov. Dan Patrick, aims to address concerns that unregulated THC products are being sold in stores across the state.

Youngkin Bumpkin

Virginia will likely remain the only state in the country with adult-use cannabis but no legal sales framework—a recipe for illicit and unsafe activities—if Republican Governor Glenn Youngkin vetoes the bill that state lawmakers recently sent to him, as expected.

Makes Sense

The president of Colombia is calling on lawmakers to legalize cannabis in the country, arguing prohibition “only brings violence” from cartels in the illicit market.

“The empowerment of mafia organizations shows the failure of prohibition and the absence of alternative measures to simple prohibition.” President Gustavo Petro

Stocks & Stuff

It was another day of soft prices and thin volumes as the leakage continued for pub-cos in the canna space. U.S. cannabis ETF MSOS lost 2% ahead of the Curaleaf report, which posted on the closing bell.

Below, we’ll recap industry news, talk through the current concerns for the sector—and what it’ll take to change the channel—preview this week’s earnings, share a hot take on German sales, and say goodbye to another analyst who’s left Cannaland.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional: $14M

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