cannabisstocks
April was a game-changer for the cannabis industry. After deliberating for almost five months, the Drug Enforcement Administration moved to reschedule cannabis as lawmakers worked to combine the SAFER Banking Act with newly introduced stablecoin legislation. Meanwhile, controversy struck as legal cannabis was seized in New Mexico, Canada's Federal Budget 2024 was released with no mention of reform to high excise tax rates, and the saga of a once high-end cannabis dispensary finally ended in bankruptcy. Keep reading to discover more about these industry-shaping events. DEA finally moves to resc...
Investing News Network
The Associated Press reported Tuesday (April 30) that the US Drug Enforcement Administration (DEA) was on the cusp of rescheduling cannabis from a Schedule I substance, the same category as heroin and methamphetamines, to Schedule III. The Department of Health and Human Services suggested cannabis be reclassified on August 29, 2023, and the DEA has been deliberating on the decision for months, urged by lawmakers to heed the recommendation. According to the report, Attorney General Merrick Garland was scheduled to submit the proposal to the White House Office of Management and Budget on Tuesday...
Investing News Network
Major cannabis industry player Tilray Brands (TSX:TLRY,NASDAQ:TLRY) disappointed investors with its latest quarterly results this week, falling short of analysts' expectations in the wake of a number of acquisitions. Meanwhile, Nebraska lawmakers have proposed a lower tax rate for CBD after their initial offer was criticized, and unionized cannabis workers are preparing to strike on 4/20 as they seek improved benefits. Stay up to date on the latest news, trends and policy developments in the cannabis industry with our round-up below. Tilray's latest quarterly results disappointTilray released ...
Investing News Network
U.S. President pardoned thousands convicted of marijuana possession, investment expert explains what it means for cannabis stocks. Cannbis Stocks Rally After Biden’s Announcement“Cannabis stocks rallied last Thursday after U.S. President Joe Biden pardoned roughly 6,500 U.S. citizens convicted of ‘simple marijuana possession’. That sure was a step in the right direction considering it could eventually eliminate the “280E” and enable the American cannabis companies to work their way to the major exchanges. Q3 2022 hedge fund letters, conferences and more Find A Qualified Financial AdvisorFindin...
ValueWalk
Information about the bill, analyst commentary and a popular weed stock with retail investors Cannabis Stocks RiseCannabis stocks rose Thursday after Bloomberg reported that Senate Democrats plan to introduce legislation decriminalizing the popular and widespread plant’s use. The report said Senate Majority Leader Chuck Schumer and fellow democrats Cory Booker and Ron Wyden planned to introduce the Cannabis Administration and Opportunity Act. Q2 2022 hedge fund letters, conferences and more That sent weed stocks across the US and Canada higher with welcome relief after widespread losses that h...
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Whitney Tilson’s email to investors discussing the opportunity in cannabis stocks; more Q&A about our advertising. Q2 2021 hedge fund letters, conferences and more The Opportunity In Cannabis StocksSpeaking of Empire Investment Report, one of our best recommendations was cannabis company Green Thumb Industries Inc (OTCMKTS:GTBIF), which was one of eight stocks we recommended on September 16 last year to take advantage of the "blue wave" we correctly predicted in the 2020 election. Since then, these eight have risen an average of 94% versus 32% for the S&P 500 Index – and the second-best perfor...
ValueWalk
Flower One Holdings Inc (OTCMKTS:FLOOF) achieved total revenue of $13.9 million in the first quarter of 2021, which represents a 53% increase over $8.8 million reported in the first quarter last year. This is mainly due to higher revenues and decreases in cash COGS and other operating expenses. Q1 2021 hedge fund letters, conferences and more The leading cannabis producer in Nevada announced its financial results for 2021-Q1, which ended on March 31. Flower One closer to cash flow positiveFlower One was the subject of a massive restructuring of its debt, yielding a significant improvement of i...
ValueWalk
Amazon Inc (NASDAQ:AMZN) officially revealed support for the federal legalization of marijuana, and cannabis stocks took off as a result. In connection with its support for federal legalization, the online retailer will stop screening most prospective employees for marijuana, which it will treat the same as alcohol. Employees for certain positions like delivery drivers will still be screened. Q1 2021 hedge fund letters, conferences and more Policy changesIn a blog post, Amazon Worldwide Consumer CEO Dave Clark said they are adjusting their "Time off Task" policy and drug screening policy. The ...
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Citing multiple sources, Marijuana Moment reports that a federal cannabis legalization bill will likely make another appearance in the House of Representatives this week. The blog said that House Judiciary Committee Chairman Jerrold Nadler of New York is preparing to refile his cannabis legalization bill this week. Q1 2021 hedge fund letters, conferences and more Meanwhile, senators are putting the finishing touches on their own bill. The refiled House version of the bill will have changes from the version that passed last year. Updates on federal cannabis legalization effortsSenate Majority L...
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Credit Suisse Group (NYSE:CS) (SWX:CSG) has reportedly halted custodian services for certain U.S. cannabis stocks. Sources told Reuters that the Swiss investment bank and lender told customers that it wouldn’t execute transactions in cannabis stocks with U.S. operations or hold them on behalf of clients. Q1 2021 hedge fund letters, conferences and more Credit Suisse pulls the plug on cannabis stocksA cannabis company executive and other industry sources informed Reuters of the development. The Swiss bank was one of just a handful of banks that were previously willing to sell and buy cannabis s...
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