The Tides of March

U.S. canna looks to flip the script.

Daily Recap

Vice President Kamala Harris says the Drug Enforcement Administration (DEA) must reschedule marijuana “as quickly as possible,” calling it “absurd” and “patently unfair” that cannabis is still classified in the same category as heroin.

“I cannot emphasize enough that they need to get to it as quickly as possible and we need to have a resolution based on their findings and their assessment—but this issue is stark when one considers the fact that on the schedule currently, marijuana is considered as dangerous as heroin and more dangerous than fentanyl which is absurd, not to mention patently unfair.”

Sparty Party

Michigan cannabis sales totaled $261.1M in Feb., up nearly 10% from the $242.8M recorded in Jan, with all but $2.2M via adult-use.

The biggest sellers by category include flower ($118M), vapes ($50M) inhalable concentrates ($29M), infused edibles ($24M), and shake and trim ($21M).

Am Yisrael Chai

Israel is poised to implement new, comprehensive reform in medical cannabis policies as an increase in patients seeking treatment due to the Israel-Hamas war are expected to dramatically increase the already high number of registered patients in the country.

“Israel has one of the largest and most organized medical cannabis markets in the world and the market is growing with 3,000 new patients added every month.”

Banana Split

The broader market legged lower today, taking a respite from it’s risk-on ways, which could only mean one thing: Cannaland would make a stand. U.S. cannabis ETF MSOS was active early/often as a combination of factors triggered a 15% gain.

Below, we’ll chew through the what and why on our way to the ever-elusive when, check on the math + multiples with most of the earnings meat behind us, finger some of the flow we saw today, and check on our charts before a well-deserved weekend.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ PT Notional: $247 ($136M)

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