Waiting in Vain

U.S. canna awaits it's level playing field.

Daily Recap

There was nothing going on except the rent today in Cannaland. Earnings are for the most part finut and now we wait—again—for any signs of life from the powers that be.

There are zero promises we’ll see any more red headlines by year-end but it's positive, I suppose, that the government will stay open, at least until the next scheduled pissing match in January.

Sadly, that's where we are—treating the fact that our inherently flawed but still best-in-the-world (for now) democracy hasn’t yet self-destructed as a tactical win—and just in time for Congress to head home for Thanksgiving.

There were some interesting flows today and an important technical development, all of which we’ll dig into below, along with a deeper dive on forward margin profiles by the incomparable Freddy Benson Gomes and even more color on earnings.

But first, a top-line of what’s happening:

Florida Keys

In a promising sign for humankind, the Florida Supreme Court expressed skepticism + bewilderment over AG Ashley Moody's argument that a citizen initiative to legalize recreational marijuana should not be put on the ballot for next year's general election because its wording is "misleading," per the Miami New Times.

Analyze That

Cancer cells exposed to CBD oil had reduced cell viability, broad changes in gene expression, and reduced expression of a key growth factor receptor compared to control cells, a newly released study showed.

Together, these data suggest that CBD oil is effective at reducing breast cancer cell viability in vitro. Future studies will focus on determining the range of cancer cell types similarly affected and on confirming mechanistic details.

This Too!

Medical cannabis legalization is associated with a decrease in the frequency of non-medical prescription opioid use, according to Rutgers. The study, published in the International Journal of Mental Health and Addiction, examined data and information from a nationally representative survey of adults.

Random Thought

I’m profoundly perturbed that college kids are now 'woke' by OBL but after the last month, I suppose that nothing should shock me. I feel like I'm turning into my dad, who barked at the moon in his later years, but man—9/11 wasn’t even that long ago.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ PT Notional: $62M

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