Riders on the Storm

Cannabis looks for a path in the global tumult.

Daily Recap

Connecticut set another marijuana sales record in September as monthly purchases exceeded $25 million for the first time. It was the ninth consecutive month of record-breaking adult-use cannabis purchases since the market launched in January.

Ohio will vote on whether to legalize recreational marijuana on November 7th and if passed, the state would see a surge in tax revenue. An OSU study estimates that the annual tax revenue from legalizing marijuana would range from $276M (year one) to $403M (year five) in an operational cannabis market.

Alaska moved to restrict ‘diet weed’ (hemp-derived products) as Minnesota’s hemp entrepreneurs worry that recreational marijuana will push them out of business. The outlook for recreational weed in Pennsylvania remains in a silver haze but step right up and get your pot license in New York—only if you check the right boxes.

Curaleaf, following TerrAscend’s move on the 4th of July, applied to list on the TSX (Toronto Stock Exchange). This follows the previously announced and now completed marketed offering of subordinate voting shares, which was done in order to satisfy a condition that is required for a potential listing.

[TSX, TSXV, NASDAQ and NYSE are carved out of MRB-custody restrictions, which is why Curaleaf did that small cap-raise a few weeks ago]

Former Representative Ed Perlmutter's weighed in on the current federal landscape and said, "We still think that there are plenty of votes between the Democrats and the Republicans to pass [SAFE] out of the House,” and he thinks rescheduling will arrive as soon as "six to nine months, [or] by the summer of next year."

Hemp could be a major Australian agricultural industry as materials are being used to manufacture building products, a report from an international coalition says the War On Drugs is undermining environmental justice, and "cannabidiol decreased prostate cancer cell viability up to 37.25%,” according to a new study.

Meanwhile, U.S. cannabis companies are in a race against their respective debt loads—making the timing of federal reform all-the-more important—so we’ll discuss the path that we take to get there in an unsure world, looking for road-signs on the way.

All that and more, just scroll down…

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ PT Notional: $65M

Top Stories