Recess Drama

Cabinet controversies continue.

Daily Recap

The incoming Trump team has a number of pro-cannabis advocates, including Robert F. Kennedy Jr., who was nominated to head the Department of Health and Human Services, Matt Gaetz (Attorney General), Elon Musk and Vivek Ramaswamy (Dept. of Government Efficiency) and Tulsi Gabbard (Director of National Intelligence).

Additionally, Trump’s incoming Chief of Staff, Susie Wiles, worked for Ballard Partners, a Florida-based lobbying firm that represents Trulieve. In short, this has the potential to be the most pro-cannabis administration in United States history.

What’s next?

The President-elect, prior to the Senate Majority Leader vote, advocated strongly for recess appointments. While we don’t know what was agreed to, Sen. John Thune (R-SD) said last night that ”all options are on the table—including recess appointments.”

Smoke Up, Johnny

A majority of Americans who use marijuana say they’re spending more on cannabis now than they were last year, and many expect to spend even more over the next year, according to a new poll shared with Marijuana Moment.

61% of the 273 respondents said they’re now spending either “much more” (41%) or “more” (17%) on cannabis compared to last year. Only 22% said they’re spending less, while 16% said their spending levels are “about the same.”

…or, Don’t

Cannabis beverages are the latest “trend” in cannabis consumption methods—but are cannabis beverages just a trend? Research says “no.”

In 2023, the global cannabis beverages market size was valued at USD $1.16B. From 2024, the market is projected to grow at a CAGR of 19.2% to reach $3.8B by 2030.

What’s driving the increase in the consumption of cannabis-infused drinks? Today’s consumers are gradually becoming more health conscious and wary of the materials they put in their bodies.

Czech Mates

The Czech center-right government has approved a plan to ease laws on cannabis possession and cultivation. The Cabinet rubber stamped adjustments that would partially decriminalize growing and possession of small quantities of the drug and would favor fines over prison sentences for larger amounts.

Stocks & Stuff

It was a tamer session in Cannaland after two weeks of insane volatility triggered the steepest decline in valuation in the industry’s history (Viridian). U.S canna ETF MSOS ended the session up 3%, but still lost 26% over the previous fortnight.

Below, we’ll bring it home, tie it together and talk through potential risks and rewards of the incoming regime. We’ll also dig deeper into what the bear camp is thinking as we ready ourselves for the home stretch of 2024.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional: $52M

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