RE:RE:Eventual Legalization of Cannabis in the USI believe the stumbling block for US legalization has only been compounded with the new House speaker whom I understand is anti-pot.
Combine that with Schumer who is supposedly the driving force for pot legalization in the US for the Democrats spouting off that the proposed bill needs to be shmoozed over with the Republicans, some more!
Take a look at how he voted on the pot bill for veterans to study the science surrounding marijuana use for treatment of ailments.
He seems to be the reluctant father of the bride in this regard, saying that he is in favour but refusing to walk her down the isle.
Canopy dropped trou to sort out the BioSteel fiasco of their own making. Not sure how I feel about it but it seems the retail market likes it. On one hand we get some cash and stop the $15 million drain per quarter???. It seems that the guy who signed up for it was using the same reasoning as Linton used of paying too much for interesting assets.
For this to do wonders for our shareprice, we still need the law of supply and demand to get rightsized. Too much pot and too many players.
SAFE or MORE or whatever pot bill for legalization, banking or de-jailing can't hurt, I don't think but it is looking like they are going to keep hashing this out like it is a struggle for good or evil and they need to take the best points of all the Bills proposed in this regard and do a new Federal proposal that includes rescheduling such that we can have InterState commerce and banking and removal of the silliest of rules that each pot company has to be tail to snout, stacked such that all aspects are legal in the State in question.
Black market pot needs to be dealt with and a good start is for the US to allow MSOs to buy good, safe and inspected pot from Canada where we are swimming in the stuff, so much so, that it is dirt cheap. In fact so cheap that nobody is making any profit on it which has driven good quality Canadian LPs to ridiculously low shareprices.
US players will be throwing out takeover offers pretty soon for the value of these companies that can't be ignored.
The LPs, for the most part, have written off Canada in favour of the US and other International concerns but despite saying that they aren't waiting on the US, they are! Protectionism seems to be an issue but LPs are doing small things towards being ready for doing business in the US.
Canopy has dumped another asset to save the drain on finances and should be looking good except for the consolidation proposal that could be triggered at any time and I expected the merge between Canopy and Acreage to have happened by now which would speak of progress imho.
The consolidation proposal happening would be a sting for Canopy and Acreage shareholders with STZ being first in line for the residue which would be vended in to Canopy USA lickety split.
Canopy USA will be formidable like Canopy once was but would have Constellation STZ backing as the best pot play instead of the fence sitting that seems to be holding Canopy down because Klein won't commit to not doing the consolidation.
I really felt like there might be a pro-pot push for the 2024 election but US politics is so focked up, I doubt that it will happen by then.
One State at a time is the safest way for politicians to deal with this but it will cost the US a huge moneymaking opportunity as they won't get a greenrush like Canada did.
glta and dyodd