The Hangover

U.S. canna shakes off expiration.

Daily Recap

Florida Gov. Ron DeSantis (R) said a cannabis legalization initiative will be on the state’s November ballot, predicting a favorable legal outcome for the activists in the Supreme Court in their battle against the Moody A.G. seeking to block the vote.

“I think the court is going to approve that, so it’ll be on the ballot.” -Gov. Ron DeSantis

State Farms

Four states joined the cool canna crowd in 2023—Delaware, Kentucky, Minnesota and Ohio—while several others left it as unfinished business for the new year.

Florida, Idaho, Nebraska and South Dakota are all campaigning to put legalization on the November ballot. Seven other states currently don’t provide citizen-initiated ballot measures so it’ll be up to state legislators to push forward proposals that’ll add to the majority (54%) of American people who already live in a 420-friendly state.

The Supremes

The legal question over the constitutionality of a federal gun ban for people who use cannabis is now before the U.S. Supreme Court. Justices are expected to decide on whether they’ll hear an appeal of a circuit court ruling that found that the restriction violates the Second Amendment.

German Shepperd

Germany’s health minister says he remains confident that a bill to legalize marijuana will pass the national parliament next month and get implemented this spring, despite reports that support is fragmenting among lawmakers.

“I continue to assume that the cannabis law will be passed in the Bundestag in the week from February 19th to 23rd and can then apply from April 1st’”

Markets

It was a tame session in Cannaland as an expiration hangover subdued the mood for most of the day before some animal spirits stirred into the bell.

U.S. canna ETF MSOS finished the session +2.5% in light trading although the ticks flickered quicker as volume arrived into the late-afternoon rally.

Below, we’ll share random thoughts on today’s action + tells, update sector comps and look forward to the final frontier that is cannabis 3.0 through the biotech pathway.

All that and more, just scroll down.

MSOS 0.00%↑ PT Notional: $95M ($49M)

Top Stories