Just a panicked shareholder that dumped this morning (tax loss selling). i am 100% sure we will be higher in the new year. also there will be news for approval and completion of P1 likely somtime in Q1, also marijuana safe banking act could happen soon. lots of tailwinds for vibe.
The Safe Banking Act is proposed legislation aimed at bridging the gap for cannabis companies at the state and federal levels. And with Congress right in the thick of its lame-duck session, the cannabis industry is practically holding its breath to see if federal banking reform will happen.
It's exciting to see the Senate pass the the Medical Marijuana and Cannabidiol Research Expansion Act and President Joe Biden expected to sign it soon (more on this below), which creates a potential throughline to getting the SAFE or SAFE+ Banking Act done.
Progress in cannabis banking reform is critical, and we believe this is the best chance to get something done at the federal level for the next few years. There are countless benefits to reshaping how financial institutions can interact with cannabis companies, and new legislation will pave the path to better establishing legal cannabis as a legitimate American industry.