1933 Industries Inc C.TGIF

from BNN - anything positive???

[jfogarty12]

U.S. LEGALIZATION WATCH: 

SAFE Banking dropped from U.S. omnibus spending bill
 

Cannabis legalization in the world’s biggest consumer market hit a roadblock last week after the pro-marijuana Secure and Fair Enforcement (SAFE) Banking Act was stripped from an omnibus spending bill, drawing the ire of industry activists long-frustrated by the delays in getting any legislation passed. If passed, the SAFE Banking Act would allow banks and other financial institutions to more easily provide services to state-licensed marijuana-related businesses. Meanwhile, Politico reports that Senate Democrats are trying to find a compromise solution amid reports that Senate Majority Leader Chuck Schumer doesn’t have enough support to pass his own cannabis reform bill. Politico reports there’s a “greater sense of urgency,” according to one lawmaker, to get something passed over the next six months before the November mid-terms that could see the Democratic Party lose control of Congress. That solution appears to be placing elements of the SAFE Banking Act within another piece of legislation, although some policy experts believe the bill would be dead on arrival if it failed to add any criminal justice or social equity provisions.
 

ANALYST NOTE OF THE WEEK

Cantor Fitzgerald trims Tilray price target 

Cantor Fitzgerald Analyst Pablo Zuanic said investor sentiment on Tilray is expected to improve despite deciding to cut his 12-month price target on the company’s stock to US$5.75 from US$6.15. Zuanic made the move after re-rating the entire sector and reducing estimates on the company’s future sales. “While we rate the stock neutral, we expect sentiment for the stock to improve in the months ahead on the back of news flow from Germany on the legalization of recreational sales,” he said. Tilray is one of three licensed producers that operate in Germany (Aurora is one of the others, and Zuanic upped his recommendation on that company’s stock as well) and is one of the country’s market leaders in the extracts and dried flower categories. Zuanic does note that Tilray has become a “meme stock” and its stock moves are often volatile as retail investors react swiftly to any U.S. legalization news.