Whether Check

Florida is at the doorstep of an adult-use vote.

Daily Recap

Three Texas A&M women’s basketball players were arrested early yesterday morning.

Maliyah Johnson, 21, Kayla Green, 22, and Kyndall Hunter, 21 were arrested by police officers after Johnson admitted there was marijuana in the vehicle and a search found a clear small plastic baggie with cannabis inside.

AG Ken Paxton said, “I’ll not stand by as cities run by pro-crime extremists deliberately violate Texas law and promote the use of illicit drugs that harm our communities.” VP Kamala Harris doesn’t agree, so we’ll soon find out who’s got all hat and no cattle.

Gracias Javi Peña

A Drug Enforcement Administration (DEA) official said the agency wants to “correct misperceptions” that its drug scheduling review process is done in a “shroud of secrecy” as it works to reach a final decision on possibly reclassifying cannabis.

He also said it sometimes takes up to six months for the DEA to complete its analysis of health officials’ recommendations—which is just about how long it’s been since the agency began its current cannabis assessment. 👀

Gangs of New York

More than 100 operators and supporters of New York City’s licensed cannabis industry have urged the state Legislature to approve stiff laws to make it easier for the Mayor’s administration to padlock illegal pot peddlers and deter new ones from opening.

Specifically, legal pot operators have asked for:

• local authorities to have the power to inspect, shut illegal cannabis shops. 

• imposed and enforced higher penalties to deter the black market.

• improved coordination between state and local agencies to bolster enforcement.

• support for legal stores with information campaigns that warn of the health risks from buying pot from illegal operators and cutting red tape in issuing licenses.

Desert Storm

Arizona cannabis companies sold just over $1.4 million worth of cannabis in 2023, a level they’ve attained for three years in a row. January adult-use sales have already topped $73 million, with medical adding another $22 million, which brings the sales total to $4.2 billion since the state began tracking transactions in January 2021.

Stocks & Stuff

The big news in Cannaland today was no news, as in the Florida Supreme Court did not issue an opinion. The deadline for their proposed ruling is Monday at midnight and if we don’t hear anything, adult-use cannabis will be on the November ballot.

^ updated: The Florida Supreme Court will issue their opinion at 4PM ET on Monday, April, 1st.

Below, we’ll chew through today’s price action, dig deeper into the size, scope and the operators best positioned for the Florida opportunity, review our technical set-up, spy the structural forces and tie a bow on our abbreviated week.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ PT Notional: $181M ($115M)

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