Swingers

Three states will set the tone into the election.

Daily Recap

With Ohio having legalized adult-use and the Florida Supreme Court allowing their residents to vote on whether to do the same, two-thirds of our 2024 cannabis swing-state trifecta are in place as all eyes shift toward the northeast.

Legalized cannabis in Pennsylvania has the potential to bring in more than $1B in tax revenue over the next five years, according to a new report, but the commonwealth is already behind the curve as five of it’s six bordering states have already flipped green.

“We’re losing out on an industry that, once fully implemented, would bring in more than $250 million in annual revenue and our failure to legalize and regulate only fuels the black market and drains much needed resources for law enforcement.”

Out of Africa

The South African cannabis industry has the potential to create up to 25,000 jobs and could be worth around R28 billion—but it still faces major hurdles. Despite gathering commitments from the gov’t to amend laws to create a thriving commercial industry, private businesses, growers, and entrepreneurs still face immense obstacles.

“We need to destigmatize the use of cannabis, whether it’s for recreational, medicinal or religious purposes, and the Constitutional framework allows us as adults to use it without prosecution.”

¿Cómo se dice efficacious agility?

A new scientific review highlighted the potential for CBD to treat and manage the symptoms of conditions such as epilepsy, pain, cancer, schizophrenia, diabetes and COVID-19, among others.

The wide-ranging review summarized the impact of cannabis on human health and found that while the field has yet to be thoroughly explored, the plant components exhibit “neuroprotective, anti-inflammatory, anti-thrombotic, anti-bacterial, analgesic, and antiepileptic properties.”

I’m not entirely sure what all of that means but it sounds important.

Stocks & Stuff

It was a tale of two tapes in Cannaland as the U.S-kind finished mixed-to-lower while our neighbors to the north took the baton and went for a run. U.S canna ETF $MSOS lost 2% on Turnaround Tuesday as we officially welcome Mercury Retrograde. 😱

Below, we’ll chew through today’s price action, dig deeper into the Sunshine State to finger the potential winners and see what’s been priced in, level-check the charts, and channel check U.S. pricing trends as we settle into the Q2 groove.

All that and more, just scroll down.

$SPY $QQQ $IWM $MSOS PT Notional: $164M ($88M) (←dk why quotes don’t work)

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