Until those charged withimplementing better laws and regulations for the US pot scene, this will bounce around.
No doubt there is a pent-up expectation of profits to be made in the pot and hemp business when this all gets itself sorted out amongst the invested parties and the politicians.
The recent run-ups on hints of change to reschedule marijuana to Class 3 was enough to generate doubles and triples of shareprice on almost any well recognized pot cos.
I believe that new legislation, done properly, at the Federal level to bring all of the States together with one set of rules that allows Inter State commerce and a clear path to access all of the banking and brokering tools available to every other US business, except pot.
Even Janet Yelin shot out words of encouragement suggesting that action needs to be taken, I assume, for the purpose of legalization and taxation purposes.
Reigning in the black market is a necessity while getting control of the supply for safety purposes and the sooner the better.
Mr. Tilray is hedging his investments with buying up beer companies to generate revenue that is elusive to pot businesses under the current laws. Having beer bottling lines could quickly be changed up to thc infused or cbd infused beverages when the forces align to allow potpreneurs to get what they need to grow and be profitable.
The Tilray guy, it seems is content to let this play out at the speed of government.
In the meantime, indecision is hurting the weak potpreneurs which is essential to getting the law of supply and demand sorted out because nobody is going to make significant profits until this happens.
Canopy looks like it is dead if you look at the charts but there is still an ember there that can be sparked to life. \
Remember that STZ shook up the whole pot market with their choice for entry to the pot market which was Canopy Growth, presumably for what they had in their portfolio.
I don't think anybody thought that the politicians would be dragging anchor on this issue and I still have hope that 2024 Election could be the gamechanger.
If not, we will still progress forward one State at a time and all get to the same destination but without the US Greenrush which will be momentous and legitimize pot consumption to the world.
Biden and Trump are nech a neck in the polls and putting pot on the ballot for Federal legalization would draw out voters who wouldn't normally vote or doing this off the ballot would win those votes for whoever does the work to get potpreneurs to a playing field that is level with alcohol.
Every US business has banking tools except the pot business, it seems!
This is a big boys game with a margin for boutique businesses and more pharma opportunities could be winner take all.
glta and dyodd