Where's the Beef?

Cannaland investors crave growth.

Daily Recap

A new study indicates a significant decrease in youth cannabis use from 2011 to 2021 after more than a dozen states legalized marijuana for adults, and details a lower rate of both lifetime and past-month use by high-school students nationwide.

The findings run contrary to years’ long claims from legalization opponents who said the policy change, first enacted in Colorado and Washington State in 2012, would lead to skyrocketing cannabis consumption by teens.

Red on the Head

New polls from two deeply conservative states—Kansas and Utah—show a majority of their voters support adult-use cannabis legalization.

As the election approaches, much attention has been paid to voters’ preferences on cannabis reform and these surveys seem to suggest there are no longer red states or blue states, only green states.

Sweet Corn

Speaking of which, newly released polling results out of Nebraska indicate that nearly 6 in 10 registered voters favor legalizing medical marijuana through a pair of ballot initiatives that they’ll consider next month.

Twinning

Minnesota’s recreational marijuana market is on track to launch in 2025, even as some potential businesses say they’re concerned that the process is taking too long.

The state’s Office of Cannabis Management, created under the 2023 law approving adult-use marijuana, has the first draft of the rules, providing more direction about how businesses will be expected to operate, a Minneapolis TV station reported.

Stocks & Stuff

Cannaland put on a brave face despite the fright in risk assets today. U.S. cannabis ETF MSOS, after kissing the underbelly of an important level this morning, finished the day with a 1.5% gain on moderate volume.

Below, we’ll top-line the landscape, spy the red state wave, sneak a peek at earnings, contextualize Florida, share an update on the Boies lawsuit, check on the charts and offer some random thoughts into the election.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional: $86M

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