U.S. Canna Getting Lapped

Dem disappointments left America behind.

Daily Recap

As Canadians focus on ways to strengthen their economy in the wake of ongoing threats from the US government, many in the Canadian cannabis industry say they think cannabis is being overlooked as an economic powerhouse—and they have a global advantage over U.S. operators given the current domestic federal treatment.

“The industry already contributed over $43 billion to GDP, supports 80,000 jobs, and generates significant tax revenue. With the right tax and regulatory reforms, it can drive even greater investment, innovation, and trade, helping to build a more self-reliant domestic economy.

As a world leader in federally regulated cannabis production, Canada has a first-mover advantage in a global market projected to surpass $145 billion by 2026,”

Beena Goldenberg, CEO, Organigram

Propaganda

A new study on Atlanta’s move to decriminalize cannabis concludes that, contrary to warnings from critics and prohibitionists, the policy change led to lower violent crime rates as police turned their attention to more urgent matters.

While some warned that loosening cannabis-related penalties would lead to a rise in crime rates, researchers observed, and the data demonstrated the exact opposite.

MO Mentum

February’s retail sales show growth in Missouri’s cannabis market despite bad weather conditions. Missouri started the year by selling $123M in January and closed February at $116M in total sales. Although February sales represented a 5% dip vs. January, the notable comparison is the 6% YoY growth compared to last February.

Florida Gaters

The Florida House working group formed to study the hemp industry concluded its final meeting with two main conclusions: they do not want to make any moves that would kill a multi-billion-dollar industry in the Sunshine State but also determined that Florida must change the status quo in regard to regulations.

Stocks & Stuff

‘Twas another day of hurry-up-and-wait as the cannabis sector digested earnings and the space casts it’s lonely eyes toward D.C. U.S. cannabis ETF MSOS squeaked out a 2% gain on vapor-thin volumes as Ventum highlighted a few Canadian opportunities.

Below, we’ll top-line today, tie-up earnings, monitor the many moving parts, get the latest on PA and highlight the current and perhaps future state of hemp beverages.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional: $10M

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