RE:RE:RE:Safe is DEADThe problem is is that there are not enough pro cannabis GOP senators who will ever agree to decriminalizing the way smug Schumer has worded his plan. At least the safe banking act had a very good chance of bipartisan support. I think the Dems as per usual have made a terrible mistake. Not a fan of the Republicans either.
quinlash wrote: SAFE isn't dead, where in the world did you hear that? It may be removed from the NDAA vote however the dems just wanted to get legalization in along with the safe banking. It just means that they are pushing for the "Big Bang" with banks and federal legalization coming out in one massive shot.
Ventura2020 wrote: Along with the Democratic Party. Chalk another failure up!
Obviously, the decision on whether the SAFE Banking amendment gets attached or stripped from the NDAA will likely determine directional sector price action to end the year.
In a negative outcome scenario, expect near-term sentiment to sour as the seemingly unending political deadlock grinds on. With a prime catalysts lost, we expect tax loss selling to gain traction as investors pare losing positions to offset gains elsewhere in their portfolios. There will also be questions on the trigger and duration of the next legislative catalyst (uncertainty is never a market ally). Despite attractive valuations relative to growth profiles in the U.S. cannabis sector, focus will be elsewhere to close out 2021. Expect YTD lows in AdvisorShares Pure US Cannabis ETF (MSOS) to be revisited and exceeded.
glta
V