Klein has made Canopy vulnerable to collapse due to a one solution only plan of banking 100% of companies future on Biden and his ability or inability of being elected / passing of cannabis legalization.
While Biden's future hangs in the state of limbo and the November Election is the all in one basket hopeful plan Canopy has banked everything on ? Looking at how POOR the debate went with Biden stumbling and his future of being re-elected due to his ability of running his Country ?????
Canopy / Klein has " NOT " offered a backup plan of a failed election and the probability of Trump being elected .. Trump will undo and over turn any Cannabis reforms that Biden has tabled . This leaves Canopy plan in state of LIMBO and most likely collapsing !! The shell company " Canopy USA"
Will be stuck in reverse without traction or ability to gain the fruit that be promised by Klein as a one or all solution to the companies quagmire of profitability or stability or future ..
Each and every Canopy shareholder banking on this election or future profiting should be EXTREMELY nervous of reform collapse ... YEARS of a major rollback coming as of November election could spell disaster for those banking on a one fix option ..
The debate was a major flop for Biden and has pushed a sense of urgency of Biden ability and or future of a second term President ?
This could be the catalyst of Canopy's business model pushed to bankruptcy and another one bits the dust due to no backup plan ... Banking on one sole solution and Trump putting a nail in Canopy's sole plan
WASHINGTON DC – President Joe Biden’s shaky debate performance this week is stirring doubts among Democrats about his viability for reelection.As doubts about the president’s electability circulate, questions around federal cannabis reform anticipated under Biden’s administration are also swirling.
How would a return of Donald Trump to the White House influence the future of cannabis legalization?
Trump And The Future Of Rescheduling
At a recent panel organized by Zuanic & Associates, experts noted that if Trump addresses cannabis rescheduling and wins the 2024 election, a Congressional Review Act (CRA) could be invoked, but reversing rescheduling would likely require a new review process by the Attorney General, which woulds take about two years and face significant challenges.
Additionally, on June 21, 18 GOP state attorneys general called for a public hearing, stressing the need for detailed data and scientific review. The DEA acknowledged the complexity of reclassifying cannabis, recognizing its medical uses in the U.S.
The DOJ-initiated rescheduling process includes a proposal publication, a public comment period and a final review, aligning with international treaties.
The Red State Catalyst
Despite the federal standstill, red states have emerged as unexpected champions of cannabis legalization. Tim Seymour points out that these states are not waiting for Washington’s cue. Instead, they are pushing forward with legal markets that significantly enhance access and boost state revenues. This shift indicates a robust economic incentive driving the cannabis agenda at the state level.
In several GOP-led states, a significant shift toward cannabis reform is evident. North Carolina’s Senate approved a medical marijuana bill amidst mixed opinions within the party. South Dakota, known for its conservative views, leads the U.S. in hemp production, driven by strong local support and favorable agricultural conditions.
Arkansas is broadening access to medical marijuana, indicative of growing support for cannabis within conservative regions, aligning with GOP interests in economic development and public health improvement.
Mergers And Acquisitions: Signs Of A Shifting Landscape?
Recent mergers and acquisitions underscore this momentum. Notably, the merger between Cansortium and RIV Capital, facilitated by Scotts Miracle-Gro, aims to serve a substantial portion of the U.S. population, specifically targeting states with substantial economic influence like Florida and Texas.
Additionally, the $65.6 million equity offering by Good Day Farm highlights significant M&A activity and Republican support in the South. This includes operations across Arkansas, Mississippi and Missouri, and notably in Louisiana where the company secured two medical marijuana cultivation licenses with the backing of Republican Governor Jeff Landry. The company’s political ties are further deepened by its primary shareholder, Donald “Boysie” Bollinger, a notable Republican donor, and its president John Davis who is married to State Representative Paula Davis.
The GOP And Cannabis: An Evolving Relationship
The advancing legalization in red states, traditionally Republican strongholds, suggests a nuanced position within the GOP on cannabis. This development could play a pivotal role if Trump wins the November election.
Under such a scenario, despite Trump’s previous disinterest in rescheduling cannabis at the federal level, state-driven legalization could continue to flourish, propelled by economic benefits and GOP support at the state level.
Prohibition Strongholds
Several U.S. states maintain strict cannabis prohibition, resisting the broader national trend toward legalization, including Idaho, Kansas, Nebraska, South Carolina, Tennessee, Indiana, Wisconsin and Wyoming.
As the 2024 election approaches, the interplay of federal inertia and state activism paints a complex picture of the future of cannabis legalization.
The industry’s growth, increasingly tied to state decisions and economic imperatives, may indeed continue under a GOP presidency, driven by practical rather than ideological considerations.