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US legalization

[Jimmy713]

Sanders says Congress making progress on ending U.S. drug war as legalization bill loomsU.S. Senator Bernie Sanders said that Congress is “making progress” toward ending the drug war and federally legalizing marijuana, Marijuana Moment reports. Sanders, who spoke during a town hall event earlier this week, gave his remarks following an audience question on when federal authorities would end the "racist, idiotic drug war". "What you are now seeing is a radical change of consciousness with regard to that war. You are seeing state after state after state legalizing marijuana," Sanders said, adding that "I would legalize marijuana nationally. I am supportive of that." A broad-ranging cannabis reform bill that would legalize the drug federally was drafted in July by a group of Senators led by Senate Majority Leader Chuck Schumer. A public comment period to get input on the bill closed last week, with Marijuana Moment reporting much of the feedback focused on issues of social equity, licensing, tax policy and interstate commerce. 
 

Analyst Call of the Week - BMO Capital Markets, Cantor Fitzgerald on August Hifyre sales figures



A pair of analysts look into projected August sales figures from Hifyre, which tracks roughly 80 per cent of the country's cannabis market. BMO Capital Markets Analyst Tamy Chen sees the Canadian market remaining "fragmented and highly competitive" despite sales rising by two per cent from the prior month to nearly $350 million. The top nine licensed producers tracked in August 2020 represented 78 per cent of the Canadian market, but now account for 61.5 per cent, Chen noted. Chen also highlighted how Aurora Cannabis and Canopy Growth are all poised to see sales declines in their current quarter given the various challenges in the retail space. Cantor Fitzgerald's Pablo Zuanic highlights recent sales growth by Organigram and Auxly, two smaller producers which have gained market share at the expense of bigger operators. Zuanic sees Organigram on pace for a significant sales beat when reporting its summer financial quarter, while Hexo and Tilray point to low single-digit growth. Also of note was the rise in sales of pre-rolls, which were up 27 per cent in the combined July-August months, outpacing the overall market growth of 10 per cent.