Suspended Reality
Daily Recap
For the first time since cannabis reform became a popular issue with American voters, neither of the major-party presidential candidates appears to be a substantial risk to policy reform or the existing $32.1 billion U.S. cannabis industry.
Instead of which outcome is least bad, the questions that many cannabis executives are asking ahead of the November election is: which candidate will be better—better for the industry and better equipped to compel Congress to finally pass long-awaited reform measures, including potential federal marijuana legalization.
Jackpocket
Donald Trump shocked political observers last week when he appeared to change his position on legalizing cannabis—but that could become a political jackpot .🎰
New surveys suggest voters in the “Blue Wall” states of Michigan, Pennsylvania and Wisconsin could be swayed by Trump’s “green” opinion on cannabis.
Bobby Puff 🌬️
Robert F. Kennedy, a former 2024 presidential candidate who has since been tapped to join the transition team for former President Donald Trump after endorsing the GOP candidate, is drawing attention to Vice President Kamala Harris’s prosecutorial record on marijuana.
“Tulsi Gabbard confronted Kamala Harris in this pivotal debate moment, demanding answers on key issues of accountability. This revealing exchange highlights the importance of transparency and truth in politics.” RFK Jr.
AYR Apparent
The Virginia Cannabis Control Authority announced this morning that AYR Virginia won a conditional permit to become the sole licensed pharmaceutical processor of medical cannabis for the entire Shenandoah Valley, the cities of Charlottesville and Fredericksburg and the counties of Spotsylvania and Stafford.
Stocks & Stuff
It was another quiet session in Cannaland as traders waited for a, waited for a, waited for a gap to fill in the MSOS ETF. To paint the picture and watch it dry, $8M traded in the underlying stocks on top of the $45M notional that traded in the ETF.
Fat, drunk and stupid is no way to go through life (son) and illiquid markets that, as of now, remain below resistance zones, is a helluva way to approach an election.
Below, we’ll top-line the landscape, talk through the bull and bear case for stocks, take the one-month temperature of adult-use sales in Ohio and welcome the final fifth of a now fermented Virginia market.
All that and more, just scroll down.
SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional:
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