The Buy Side

U.S. canna looks to make friends.

Daily Recap

Numerous leading veterans groups and a group of prominent US law enforcement leaders have become the latest to throw their weight behind rescheduling cannabis.

“We believe that reclassification under Schedule III would be an important step to help both federal and state law enforcement better prioritize limited public safety resources.”

Amish, Bud

The secretary of Pennsylvania’s Department of Agriculture says he’s “excited” about the possibility of his agency overseeing an adult-use marijuana market and he said the state is uniquely positioned to leverage the reform, in part because farmers there are “really good at growing things.”

“We think there’s an opportunity for investment in those farms and farm communities, so we’re excited about it, and I think it’s a really good moment.”

Tortoise and the Hair

An effort by some counties in Maryland to use zoning laws to limit if not prevent the opening of cannabis dispensaries has drawn the ire of the powerful chair of a House committee in Annapolis.

“It becomes irresponsible at a point for some of the county officials to propagate these lies.”

Stocks & Stuff

After last week’s strong showing, Cannaland was softer today as another weekend of inaction by the federal government likely left at least some holders wanting for more. U.S. cannabis ETF finished -5% for the session, but is still +30% YTD.

Below, we’ll preview this week’s earnings, look ahead to the other side of the cycle, eye a few potential ketchup plays (and why they’ve been lagging) and grab a quick technical check before heading to the big city to introduce U.S. canna to a few new friends.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ PT Notional: $115M ($58M)

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