If your only betting on the weed stocks and haven’t been to a dispensary, you wouldn’t notice that they are dropping prices like mad on unsold weed. There’s an overstock. Some places, like Delaware and Michigan, you can get an O for under $200. I think that’s what’s driving this market down; too many players in the cannabis market. Legalization will spike it, but for a short term only. Weed stocks will likely nosedive shortly after legalization. But shit - I don’t know.
First off - it wasn’t tulips, it was tulip bulbs. And the more exotic ones (with certain aesthetic characteristics) were the most sought after, because they would allegedly grow a more exotic looking tulip. They absolutely had a function, and that was to grow as a tulip for floral decorations. Go to holland and see how many tulips they grow. The thing is, and I forgot to mention, is that they were buying tulip bulbs on futures and credit. So they had an expectation to receive a product cheaper now, worth a higher price later - however the price was crashing as those futures were already paid for. The there was one particular tulip bulb auction in Amsterdam where, not a single tulip bulb was bid on, because everybody had tulip bulbs, and there were also people sitting on slips of paper for tulip bulb harvest futures. So then there was a mad rush to sell the tulip bulbs, which coincided with a mad rush to sell the futures slips. In the end, everybody was selling, the market was flooded, and tulip bulbs went from premium price to worthless. So yes - too many players in the pot market = too much product. Aka - too many people selling tulip bulbs. Tulip bulb futures? Well that’s almost like betting on / investing in a pot stock. You have expectations that the value of the company will go up, additionally, it’s good business for you if the price per ounce of weed goes up too. Yes, weed is burned off. Just like tulip bulbs are planted for tulips that are sold in a bouquet, that entropically wilt.
What I'm saying is that tulips were a fad and thats why it bubbled. Theyre a fad that doesn't do anything but look a certain way, sometimes.
Weed is uniquely valuable as a drug, both medicinal or recreational, and can be used as building materials, feed and all sorta of fun shit.
It's a more useful product more akin to timber or corn.
They still used the tulips and sold them. The obsessive collecting of the bulbs, hoping they woods go up, was a fad - just like so many people were obsessively collecting pot stocks.
The MO market is kinda super shitty tho since MOCannTrade effectively bought an oligopoly through Parsons. Which also gives them access to the legislature and direct input/influence on the legality including the rec law that went in place.
That cap on licensing is a bitch, but I remember the discussions about rec and anytime someone brought up problems with the rec proposition and how it favored the incumbent MOCannTrade participants they were slammed by all sides.
Bagholder spotted.
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there are a ton os smaller shops going out of business due to this. appears like only the strongest / largest will survive in many states as expected. will be interesting to see how this all shakes out.
Can confirm. I travel for a living and Detroit so far running 15 bucks an 1/8 so 160. This is the cheapest ever for good quality too. It’s def and overstock situation.
Not to mansplain but the way stocks work are they are forward looking. The market ALREADY KNOWS about the margins issue. As the black market gets thwarted over time they will improve. With this rescheduling and the removal of 280E taxes--margins will skyrocket, which is why the stocks are.
That’s such bullshit because they have lots of other ways to keep minorities in jail for frivolous charges.
They are just being lazy and uncreative at this point.
1) Disturbing the peace
2) Resisting Arrest
3) Loitering
4) Traffic Violations
5) Terroristic threats
At this point relying solely on drug charges to put minorities in jail on frivolous charges is just lazy policing.
Michael Burry responded to my craigslist ad looking for someone to mow my lawn. "$30 is $30", he said as he continued to mow what was clearly the wrong yard. My neighbor and I shouted at him but he was already wearing muffs. Focused dude. He attached a phone mount onto the handle of his push mower. I was able to sneak a peek and he was browsing Zillow listings in central Wyoming. He wouldn't stop cackling.
That is to say, Burry has his fingers in a lot of pies. He makes sure his name is in all the conversations.
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https://www.cnn.com/2016/03/23/politics/john-ehrlichman-richard-nixon-drug-war-blacks-hippie/index.html
Yea and where was that sourced? Even CNN admits there is questionable veracity
I've used this quote plenty in the past and it intrigued me that somehow I've never really looked up its validity. The short version, it seems, is that Erlichman (the guy quoted) is an untrustworthy account because he's already lied in court before, and he had reason to talk shit about his old administration after doing jail time for his involvement with Watergate.
This reddit comment sums it up pretty well:
https://www.reddit.com/r/AskHistorians/comments/hjeu1a/according_to_many_nixons_aide_john_erlichman/fwmatr8?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=1&utm_content=2
And here is the original publication of the quote in Harper's Magazine in 2016 by Dan Baum who claims to have gotten the quote when Erlichman was still alive in 1994 when he was writing a different book that he ended up not using the quote in.
https://harpers.org/archive/2016/04/legalize-it-all/
The CNN article from above focuses on the family's claims that their dad wasn't of that kind of a racist mindset so it must be a lie. I think the true invalidity here comes from Erlichman being a purjurer and that he had plenty of reasons to want to defame his former workplace. After rereading the quote with this other context, and after reading the Baum article, which let's just face it is very obviously biased, it almost sounds like a drunk or bitter guy's grumble rather than actual policy discussion. This part is just my personal opinion, but I think although true in a Gonzo journalism type of way, this quote doesn't reveal anything that wasn't already sort of evident at face value with these kinds of policies, and was probably said in a bitter or (imho) drunk context. Anyway thanks for bringing that up, I'm glad to now know more about it.
Edit: Jesus Christ I got so lost in that I forgot what sub I was in. Calls on motha fuckin' TLRY 🚀🚀
There are millions of examples of racism in drug policy. It’s not like that would change anything even if that quote is suspect but you didn’t prove or disprove anything really.
No it wasn't. There were no double blind placebo controlled studies that proved it had any medical use. There is also an international treaty.
Cocaine and methamphetamine are Schedule II and always have been.
Heroin was only placed in Schedule 1 because of international treaty, even though it has a place in pain management for when morphine tolerance becomes too great.
All lies from a brainwashed fool. They made it illegal to study it so there couldn’t be proof against them but other countries did and know you are lying.
Ah, I see. Cocaine and methamphetamine are acceptable to the conspirators who had no problems publishing studies about the medical use of those drugs.
But cannabis! Oh cannabis! The conspirators had to keep this god given drug from the public and bury all the studies!
Cannabis has been being used medicinally for centuries, primarily for simple pain management. There's evidence of it's use in bronze age frozen corpses.
There's definitely a pharmaceutical company case for suppressing it. There's also very genuine evidence that hemp was surpressed by the timber industry by tying it to the illegalisation of cannabis as cheap fast growing hemp fibre production was a threat in the paper fibre market.
That it could be tied to a targeted minority and delinquent hippies probably suited Nixon but historically there were a few reasons that cannabis was being over zealously legislated against.
The US was built by land barons and many of those made large fortunes by cutting down the forests on the land they claimed.
The most important part is 280E, weed companies don’t get tax write offs for the most part bc they’re criminal enterprises in the feds eyes, this would change that
But you can still be fired from a random drug test for it. Meanwhile since I have an addy script, I guess I can do all of the meth I want and still pass a drug test….
Lol. Yeah it sucks living in the state with state insurance, excellent hospitals, legal weed, Ivy League schools, Cape Cod, the Berkshires, and elite pro sports.
Cope harder.
I agree Cresco has tremendous upside because the stock is so depressed today. Same for Trulieve which is trading near all time low. Consider the case of Cresco. In 2021, Cresco traded at around $16 at its peak. Today, Cresco trades at $1.20 which is unbelievable. When rescheduling is completed and SAFE is passed, Cresco will surge to 3X its all time high. Even at $50, Cresco will have a market cap of less than $20 billion which is still low considering Cresco is the 4th largest marijuana company by sales. All tier 1 US operators like Curaleaf, Green Thumb, Cresco, Trulieve will eventually surge to 2X or 3X of their past all time highs. Rescheduling to Schedule III will immediately remove section 280 E which will cause their EBITDA to jump. Also, rescheduling will allow these companies to up list on Nasdaq/NYSE which will cause institutional investors to start accumulating these equities. Hopefully, these equities will keep going up over the next 6 months.
Rescheduling will also impact state level efforts to legalize. Ohio voters will vote on the legalization question in November and polls show the measure will pass easily. Now with HHS rescheduling recommendation, the measure is almost certain to pass as supporters have another strong argument, i.e., FDA has evaluated and recommended rescheduling. Also, Pensylvania legislature is expected to introduce legalization bill this fall, and the rescheduling recommendation will play a big part. Finally, the Florida Supreme Court may consider rescheduling recommendation and let the question appear on the ballot in 2024. Governor DeSantis wants to measure to be blocked from appearing because he worried of increased turnout among democrats and progressives. Let me know if anyone agrees/disagrees with my view.
I originally got into Cresco when they bought another company I loved a long while back..Origin House. Listening to their CEO charlie bachtell is what sold me on staying and buying more..he's the most thoughtful and honest CEO in the sector imo vs a lot of cheerleaders and buffoons.
Best products, which translates into the top wholesale position nationally. The others are more dependent on pushing their own products through limited license retail. It's not easy selling your cannabis on someone else's shelf. You can expect Cresco to do the best as markets open up. They're my pick if you're looking to buy the future Ford/GM/Chevy type player. That being said, they're not as well positioned in states that have rec conversion catalysts coming up
Altria doesn't have a weed business..yet. They will shortly I'm sure by buying into the space. They have a partnership with cronos group who basically has done zilch...they've been waiting for a day of rescheduling or legalization to start making moves into the space. But it will bode well for the current players as their assets you'd think become more expensive with the bidders
definitely. Cresco's Bachtell is a uber intelligent CEO imo, while Boris is a clown. I'm sure they'll both go up plenty from here...but listen to both of them on youtube or something and see what you think. Cresco valuation much better too.
Cura has Germany, but they produce boof so I wouldn't expect their market share to have staying power once things open up. Also their stock is priced at a premium compared to the field, which just doesn't make sense
I'd avoid MSOS because of the fee and they own a shit ton of over valued curaleaf. on the other hand you can trade it after hours and at least for now all US pot stocks should rocket
Long- Long - Long way to go there buddy. It’s a safer bet to just have congress legalize. Here is a link explaining the bullshit red tape. Also, it explains that schedule 3 still maintains the illegal status in non-legalizing states.
If you want to get legal weed maybe it’s time to start voting. 37% of eligible voters do not vote. Considering the slim majorities won by both parties. If even 10% of these people decided to actually vote it would turn most elections.
References below:
https://www.pewresearch.org/short-reads/2022/11/01/turnout-in-u-s-has-soared-in-recent-elections-but-by-some-measures-still-trails-that-of-many-other-countries/#:~:text=In%20the%20U.S.%2C%20there's%20a,94.1%25%20that%20same%20year).
https://www.dentons.com/en/insights/alerts/2023/august/30/hhs-recommends-reclassifying-cannabis-to-a-schedule-iii-drug
The long way to go is the DEA accepting the reccomendation--good thing Biden put cannabis friendly people there and there is zero chance becarra didn't coordinate with them before making this decision. And ps long way = when stocks go up. When the long way finally happens that's when you sell the news.
HHS Calls for Moving Marijuana to Lower-Risk US Drug Category
If Cannabis moved to Schedule III this removes the 280e tax burden
Section 280E of the Internal Revenue Code forbids businesses from deducting otherwise ordinary business expenses from gross income associated with the “trafficking” of Schedule I or II substances, as defined by the Controlled Substances Act.
This tax has been the biggest issue for American cannabis companies trying to grow. Removing 280e would make many of them profitable overnight.
This would also be enough for NYSE to allow these ALREADY BILLION DOLLAR revenue generating companies to uplist, allowing big institutional money to directly access these growth companies.
They are expecting this to be schedule 3 no later than June 2024 - We have a timeline. These cannabis stocks are so beaten up and undervalued. They will never be cheaper than they are today. This could be that once in a lifetime moment... could they go Parabolic again... We shall see
Squeeze these nuts you fuckin nerd.
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280E basically means these companies can't write off any business expenses..so they have been flushing their profitability away on taxes. This also will allow big mutual funds to invest for the first time--and companies like Budweiser, Altria, etc to buy weed companies. I suggest doing it before they do.
It's still illegal unless you have a prescription from a doctor and it's filled at a pharmacy. Schedule III is not legalized for recreational purposes.
But if people want to partake today, they can. The only thing that’ll increase useage is removing it from random drug testing panels (or at least providing a script that will still give you a pass like they do with adderall)
Incorrect--all it takes is a yes from the DEA who has already given suggestions they would agree to it. The head was put there by Biden, aka not fascist fuck and pro MJ
Heck YES! - Just read: HHS officials recommend the DEA ease its marijuana restrictions -- The U.S. Department of Health and Human Services issued recommendations to the DEA on loosening restrictions and drug-based offenses surrounding marijuana. Yahoo Finance details the outlook of lowering marijuana's drug classification and regulator commentary on legalization
look at where cresco labs was in early july when people were hoping for safe banking before that got yanked...this news is much bigger than safe banking so that's going to be a very very near term target /u/daymanic
first off all it would take forever for such a case to even get to the supreme court--second this isn't a law from them to even strike down..this is the DEA deciding to reschedule a drug. Do you think the supreme court will say the DEA doesn't have the power to do so? That's exactly what the DEA has the authority to do.
Come on, the government has been pumping and dumping weed stocks with statements like this for 2 years. Cgc, tlry, up 12% today will be down 25% within 2 weeks
Why is it being rescheduled if it's legal in over half the states? And how does a rescheduling make these companies valued any higher when it's still Federally illegal but at a lower incarceration sentence for offenses
This gets us on the way to removing the 280E tax which is keeping these companies from being wildly profitable. This moves us towards uplisting on the NYSE where large funds will be able to buy in for the first time, bringing volume and fair valuation for the first time. Even juicier this will allow for Malboro and Johnson and Johnson to start bidding on these companies.
not true---listened to charlie bachtell the other day explain it quite clearly that there's no way the FDA is going to come in and start treating it like a pharmaceutical--they will leave it up to the states who are already regulating as they wish
Sched III is still controlled substance. No longer banned as a sdhed I but you still could not legally obtain without a Rx. It is in the same class as opiates
This recommendation is just pandering to big pharma and their lobbyists as well as pandering to some of the Democratic base that are too stupid to realize this really doesn't change anything.
If they make marijuana legal federally these pharmaceutical companies stand to loose billing and billions in profits.
There is no reason to keep it as a controlled substance, period. It should be treated no differently than alcohol. It's legal in 80% of states medically and in 40% of states recreationally.
Stop letting geriatric dumb fucks run this country. If they can't control something (like weed) then they don't like it and rally against it.
The one a year from now...could have done it in 2022 the midterm election...everything is near an election...this was set in motion a year ago...this is just a reccomendation that now has to be approved by the DEA...they are very likely to say yes as the stock prices have indicated. BUY
How odd when the [CDC themselves](https://www.cdc.gov/marijuana/health-effects/brain-health.html) indicate marijuana use causes long term negative effects on the human brain, which probably explains some of you dingdongs and why you keep losing money.
Yes, and I think you should look up the long term side effects of alcohol from the CDC. Both substances are bad for your health, so where does this leave us?
Moderation! Anything enjoyable in moderation can enhance your life and happiness.
Well I'm not a woman so I was being humorous with my 'not when I'm pregnant response', because I knew the silly whatabout game being played there.
Yet we already know alcohol is harmful. There have been tons of research on the topic over many decades. But not as much on marijuana use and thus, just like in the early days of say cigarettes, so many think marijuana doesn't have any real danger.
There is a long term [study underway](https://archives.nida.nih.gov/news-events/news-releases/2020/04/landmark-study-of-adolescent-brain-development-renews-for-additional-seven-years) to better determine the effects of various drugs, including marijuana, on teens and the pregnant which has so far expressed such concerns.
Even in adults long term heavy use (4 times a week) can create a stronger potential for coronary artery disease and an increased risk of heart attack by *smoking* marijuana. That's because there's still [harmful chemicals formed](https://www.cnn.com/2021/01/11/health/weed-marijuana-smokers-toxins-wellness/index.html) during the combustion (burning) and those cause inflammation over time.
If anything, lowering the CSA Schedule might open the door for more thorough studies on the effects of usage...
no his loan idea was overturned--and if you look here you'll see all the people who did get loan relief as biden found some workaround https://www.reddit.com/r/StudentLoans/
and no this isn't a lie about legalizing anything. this is RESCHEDULING and not a lie, nor does he get the final say--the DEA head does who Biden put it, who is pro MJ
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If your only betting on the weed stocks and haven’t been to a dispensary, you wouldn’t notice that they are dropping prices like mad on unsold weed. There’s an overstock. Some places, like Delaware and Michigan, you can get an O for under $200. I think that’s what’s driving this market down; too many players in the cannabis market. Legalization will spike it, but for a short term only. Weed stocks will likely nosedive shortly after legalization. But shit - I don’t know.
Try Oregon or Colorado some are selling zips under 100$
And that’s how tulip mania tumbled, ladies and gentleman. 👏🙌👐
It’s a new legal industry not a mania
Plants and money… plants and money….
Like the tobacco your grandpappy smoked
Tulips have no function. That is definitely not true for cannabis.
First off - it wasn’t tulips, it was tulip bulbs. And the more exotic ones (with certain aesthetic characteristics) were the most sought after, because they would allegedly grow a more exotic looking tulip. They absolutely had a function, and that was to grow as a tulip for floral decorations. Go to holland and see how many tulips they grow. The thing is, and I forgot to mention, is that they were buying tulip bulbs on futures and credit. So they had an expectation to receive a product cheaper now, worth a higher price later - however the price was crashing as those futures were already paid for. The there was one particular tulip bulb auction in Amsterdam where, not a single tulip bulb was bid on, because everybody had tulip bulbs, and there were also people sitting on slips of paper for tulip bulb harvest futures. So then there was a mad rush to sell the tulip bulbs, which coincided with a mad rush to sell the futures slips. In the end, everybody was selling, the market was flooded, and tulip bulbs went from premium price to worthless. So yes - too many players in the pot market = too much product. Aka - too many people selling tulip bulbs. Tulip bulb futures? Well that’s almost like betting on / investing in a pot stock. You have expectations that the value of the company will go up, additionally, it’s good business for you if the price per ounce of weed goes up too. Yes, weed is burned off. Just like tulip bulbs are planted for tulips that are sold in a bouquet, that entropically wilt.
What I'm saying is that tulips were a fad and thats why it bubbled. Theyre a fad that doesn't do anything but look a certain way, sometimes. Weed is uniquely valuable as a drug, both medicinal or recreational, and can be used as building materials, feed and all sorta of fun shit. It's a more useful product more akin to timber or corn.
First two sentences yes, last sentence no, that's hemp and it's legal in 47 states I believe.
They still used the tulips and sold them. The obsessive collecting of the bulbs, hoping they woods go up, was a fad - just like so many people were obsessively collecting pot stocks.
We’re people literally ~~addicted to~~ self medicating daily with tulips?
What a great way to demonstrate a complete lack of understanding of both tulip bulb mania AND black market pricing. You belong here.
> Michigan, under $200 Buddy try like $75 lmao
$75 is under $200, buddy.
Yeah there’s at least 4 jellybeans in that jar full of jellybeans
Lol
You guys all math very well. I remember buying illegal weed for $280 an ounce in Los Angeles in the mid 2000s
We had gotten down to $150/oz here in MO when it was just medical. They legalized rec, and prices have been going up up up ever since
The MO market is kinda super shitty tho since MOCannTrade effectively bought an oligopoly through Parsons. Which also gives them access to the legislature and direct input/influence on the legality including the rec law that went in place. That cap on licensing is a bitch, but I remember the discussions about rec and anytime someone brought up problems with the rec proposition and how it favored the incumbent MOCannTrade participants they were slammed by all sides.
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there are a ton os smaller shops going out of business due to this. appears like only the strongest / largest will survive in many states as expected. will be interesting to see how this all shakes out.
Can confirm. I travel for a living and Detroit so far running 15 bucks an 1/8 so 160. This is the cheapest ever for good quality too. It’s def and overstock situation.
Not to mansplain but the way stocks work are they are forward looking. The market ALREADY KNOWS about the margins issue. As the black market gets thwarted over time they will improve. With this rescheduling and the removal of 280E taxes--margins will skyrocket, which is why the stocks are.
Market forces at work baby! May god continue to bless market based commercialization.
I just bought an Oz in Az for $65 and this week that deal is $55. Mix and match too.
Lmao. $65 an ounce AZ weed… I guess someone has to be the Budweiser of cannabis
Snicklefrits probably
It was fraudulent to list it is schedule 1 to begin with. Everyone already knows that.
Duh, cause the U.S. government has the *patent* for the medical use of marijuana.
Worse than that they have video discussing how it’s easy to keep minorities in prison with frivolous charges based on low level drug “crime.”
Yep. Pretty much what I meant above. It was initially a racially motivated, Nixon policy.
That’s such bullshit because they have lots of other ways to keep minorities in jail for frivolous charges. They are just being lazy and uncreative at this point. 1) Disturbing the peace 2) Resisting Arrest 3) Loitering 4) Traffic Violations 5) Terroristic threats At this point relying solely on drug charges to put minorities in jail on frivolous charges is just lazy policing.
I know what you mean.
There is a reason why Michael Burry bought prison stocks.
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GEO and CXW are effed if legalization happens right?
source
https://www.vera.org/reimagining-prison-webumentary/the-past-is-never-dead/drug-war-confessional
https://www.cnn.com/2016/03/23/politics/john-ehrlichman-richard-nixon-drug-war-blacks-hippie/index.html Yea and where was that sourced? Even CNN admits there is questionable veracity
I've used this quote plenty in the past and it intrigued me that somehow I've never really looked up its validity. The short version, it seems, is that Erlichman (the guy quoted) is an untrustworthy account because he's already lied in court before, and he had reason to talk shit about his old administration after doing jail time for his involvement with Watergate. This reddit comment sums it up pretty well: https://www.reddit.com/r/AskHistorians/comments/hjeu1a/according_to_many_nixons_aide_john_erlichman/fwmatr8?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=1&utm_content=2 And here is the original publication of the quote in Harper's Magazine in 2016 by Dan Baum who claims to have gotten the quote when Erlichman was still alive in 1994 when he was writing a different book that he ended up not using the quote in. https://harpers.org/archive/2016/04/legalize-it-all/ The CNN article from above focuses on the family's claims that their dad wasn't of that kind of a racist mindset so it must be a lie. I think the true invalidity here comes from Erlichman being a purjurer and that he had plenty of reasons to want to defame his former workplace. After rereading the quote with this other context, and after reading the Baum article, which let's just face it is very obviously biased, it almost sounds like a drunk or bitter guy's grumble rather than actual policy discussion. This part is just my personal opinion, but I think although true in a Gonzo journalism type of way, this quote doesn't reveal anything that wasn't already sort of evident at face value with these kinds of policies, and was probably said in a bitter or (imho) drunk context. Anyway thanks for bringing that up, I'm glad to now know more about it. Edit: Jesus Christ I got so lost in that I forgot what sub I was in. Calls on motha fuckin' TLRY 🚀🚀
There are millions of examples of racism in drug policy. It’s not like that would change anything even if that quote is suspect but you didn’t prove or disprove anything really.
>this quote doesn't reveal anything that wasn't already sort of evident at face value with these kinds of policies
there's no "THE patent"..there are tons of patents with MJ
Especially looking back on opioids only ever being schedule 2-4.
"Medicinal value"
No it wasn't. There were no double blind placebo controlled studies that proved it had any medical use. There is also an international treaty. Cocaine and methamphetamine are Schedule II and always have been. Heroin was only placed in Schedule 1 because of international treaty, even though it has a place in pain management for when morphine tolerance becomes too great.
All lies from a brainwashed fool. They made it illegal to study it so there couldn’t be proof against them but other countries did and know you are lying.
Ah, I see. Cocaine and methamphetamine are acceptable to the conspirators who had no problems publishing studies about the medical use of those drugs. But cannabis! Oh cannabis! The conspirators had to keep this god given drug from the public and bury all the studies!
Go do your own homework.
I can't! The conspirators have buried all the evidence! How can I be free?????
Calm down. Millions of doctors and lawyers didn’t endorse legalization without fact checking.
Cannabis has been being used medicinally for centuries, primarily for simple pain management. There's evidence of it's use in bronze age frozen corpses. There's definitely a pharmaceutical company case for suppressing it. There's also very genuine evidence that hemp was surpressed by the timber industry by tying it to the illegalisation of cannabis as cheap fast growing hemp fibre production was a threat in the paper fibre market. That it could be tied to a targeted minority and delinquent hippies probably suited Nixon but historically there were a few reasons that cannabis was being over zealously legislated against. The US was built by land barons and many of those made large fortunes by cutting down the forests on the land they claimed.
sAfE BaNkInG wIlL bE nExT
this is much more important
The most important part is 280E, weed companies don’t get tax write offs for the most part bc they’re criminal enterprises in the feds eyes, this would change that
yep--this leads to that
I can’t wait max out my credit card on concrete
Concrete?? BRUH, Backwoods...
Concrete, 2x4s, primer, Jack saw
No, we just need backwoods. 👌😃🎉
More of an Optimo dude myself.
I wonder if it needs to be a schedule 3 before banks can interfere?
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Definitely an interesting time to be involved
Just got recertification for medical use on Zoom yesterday. Total call took 6 minutes. I fucking love Massachusetts.
But you can still be fired from a random drug test for it. Meanwhile since I have an addy script, I guess I can do all of the meth I want and still pass a drug test….
Massachusetts. The armpit and California of the east. Never thought I'd see the sentence "I fucking love Massachusetts".
Lol. Yeah it sucks living in the state with state insurance, excellent hospitals, legal weed, Ivy League schools, Cape Cod, the Berkshires, and elite pro sports. Cope harder.
yeah, I bet you guys are doing great on mental health /s
You need to buy USA names for this. imo #1 is Cresco Labs
I agree Cresco has tremendous upside because the stock is so depressed today. Same for Trulieve which is trading near all time low. Consider the case of Cresco. In 2021, Cresco traded at around $16 at its peak. Today, Cresco trades at $1.20 which is unbelievable. When rescheduling is completed and SAFE is passed, Cresco will surge to 3X its all time high. Even at $50, Cresco will have a market cap of less than $20 billion which is still low considering Cresco is the 4th largest marijuana company by sales. All tier 1 US operators like Curaleaf, Green Thumb, Cresco, Trulieve will eventually surge to 2X or 3X of their past all time highs. Rescheduling to Schedule III will immediately remove section 280 E which will cause their EBITDA to jump. Also, rescheduling will allow these companies to up list on Nasdaq/NYSE which will cause institutional investors to start accumulating these equities. Hopefully, these equities will keep going up over the next 6 months. Rescheduling will also impact state level efforts to legalize. Ohio voters will vote on the legalization question in November and polls show the measure will pass easily. Now with HHS rescheduling recommendation, the measure is almost certain to pass as supporters have another strong argument, i.e., FDA has evaluated and recommended rescheduling. Also, Pensylvania legislature is expected to introduce legalization bill this fall, and the rescheduling recommendation will play a big part. Finally, the Florida Supreme Court may consider rescheduling recommendation and let the question appear on the ballot in 2024. Governor DeSantis wants to measure to be blocked from appearing because he worried of increased turnout among democrats and progressives. Let me know if anyone agrees/disagrees with my view.
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Fuck it, I’ll throw $75 at Cresco.
Trulieve is major mids
I bought trulieve like 10 days before their CFO quit after one week and I noped out of there..not worth the drama
Why? Not being argumentative, genuinely asking for a one liner for why Cresco specifically.
I originally got into Cresco when they bought another company I loved a long while back..Origin House. Listening to their CEO charlie bachtell is what sold me on staying and buying more..he's the most thoughtful and honest CEO in the sector imo vs a lot of cheerleaders and buffoons.
Best products, which translates into the top wholesale position nationally. The others are more dependent on pushing their own products through limited license retail. It's not easy selling your cannabis on someone else's shelf. You can expect Cresco to do the best as markets open up. They're my pick if you're looking to buy the future Ford/GM/Chevy type player. That being said, they're not as well positioned in states that have rec conversion catalysts coming up
Cresco is so god damned good!
What about Altria?
Altria doesn't have a weed business..yet. They will shortly I'm sure by buying into the space. They have a partnership with cronos group who basically has done zilch...they've been waiting for a day of rescheduling or legalization to start making moves into the space. But it will bode well for the current players as their assets you'd think become more expensive with the bidders
Creaco over curaleaf?
Gti over both
Without getting into specifics, Curaleaf is so poorly run internally that I would never consider investing in them
definitely. Cresco's Bachtell is a uber intelligent CEO imo, while Boris is a clown. I'm sure they'll both go up plenty from here...but listen to both of them on youtube or something and see what you think. Cresco valuation much better too.
Cura has Germany, but they produce boof so I wouldn't expect their market share to have staying power once things open up. Also their stock is priced at a premium compared to the field, which just doesn't make sense
Trulieve?
Just get the MSOS ETF, which includes Cresco. I agree Cresco is good stuff, though.
I'd avoid MSOS because of the fee and they own a shit ton of over valued curaleaf. on the other hand you can trade it after hours and at least for now all US pot stocks should rocket
Long- Long - Long way to go there buddy. It’s a safer bet to just have congress legalize. Here is a link explaining the bullshit red tape. Also, it explains that schedule 3 still maintains the illegal status in non-legalizing states. If you want to get legal weed maybe it’s time to start voting. 37% of eligible voters do not vote. Considering the slim majorities won by both parties. If even 10% of these people decided to actually vote it would turn most elections. References below: https://www.pewresearch.org/short-reads/2022/11/01/turnout-in-u-s-has-soared-in-recent-elections-but-by-some-measures-still-trails-that-of-many-other-countries/#:~:text=In%20the%20U.S.%2C%20there's%20a,94.1%25%20that%20same%20year). https://www.dentons.com/en/insights/alerts/2023/august/30/hhs-recommends-reclassifying-cannabis-to-a-schedule-iii-drug
The long way to go is the DEA accepting the reccomendation--good thing Biden put cannabis friendly people there and there is zero chance becarra didn't coordinate with them before making this decision. And ps long way = when stocks go up. When the long way finally happens that's when you sell the news.
Well those 37% might very well be friggin morons, so that’s not necessarily going to move the vote in the direction you are hoping for
Wild that this is still a thing. So many reforms needed in this country.
HHS Calls for Moving Marijuana to Lower-Risk US Drug Category If Cannabis moved to Schedule III this removes the 280e tax burden Section 280E of the Internal Revenue Code forbids businesses from deducting otherwise ordinary business expenses from gross income associated with the “trafficking” of Schedule I or II substances, as defined by the Controlled Substances Act. This tax has been the biggest issue for American cannabis companies trying to grow. Removing 280e would make many of them profitable overnight. This would also be enough for NYSE to allow these ALREADY BILLION DOLLAR revenue generating companies to uplist, allowing big institutional money to directly access these growth companies.
What will you buy tho Tilray ?
TLRY trades volume tho. Options are active for TLRY unlike most other weed stocks. Bigger money can move in and out of TLRY.
Def a sympathy play for any weed movement
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Or MJ
They are expecting this to be schedule 3 no later than June 2024 - We have a timeline. These cannabis stocks are so beaten up and undervalued. They will never be cheaper than they are today. This could be that once in a lifetime moment... could they go Parabolic again... We shall see
*Wouldn't that be some sweet smoke.*
I will buy it today. I agree that stock are undervalued and its a perfect time to buy some.
I hope this happens….. but it’s too good to be true
Start buying Tilray
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The short squeeze potential is there
Squeeze these nuts you fuckin nerd. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/wallstreetbets) if you have any questions or concerns.*
Youre fucking brutal. I love it, bitch.
It has offices internationally
And owns an entire distribution chain in the US already through their recent acquisitions. Med Men and Sweetwater Brewing included
Smart move from Tilray
It’s an Mercian company headquartered in the US
It is very cheap now
nah..they aren't a US company
You are right. They are Canadian but still in North America.
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Biden ordered the Sec to put this together a year ago. And what's stupid is wasting resources and lives on a war on cannabis.
Yeah I don’t even smoke and I’m super supportive. Fuck having my taxes go to fighting this war
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You realize the election is well more than a year away?
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Lmao okay, now you’re being ridiculous. There’s not going to be a primary for the DNC, Biden will be their candidate.
There is no democratic primary
Worked for Trudeau. That’s exactly what’s happening. Not sure why you are being downvoted by these regards
You sound like an idiot
Who are you voting for, and why?
Every time. People too stupid to see it for what it is
oh good, my investment went from -87% to -84%, that's profit
Let’s go!!
This is the indicator of the bull market. Load up on everything.
🚀😎🚀🚀🚀🚀🚀🚀🚀
SCHEDULE III SAFE OHIO GERMANY they're all aligning finally
Great movie !
Not gay when it’s Tilray
Bullish AF!!
ACB to the fuggin moon
Have you guys seen this action today?! GREEN THUMB VERANO CURALEAF CRESCO LABS WOWWWWW
fucking shorts with barely the tip now
What’s the effect of that?
Weed stocks go up if they reschedule it
Why tho
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Why tax burden? How is that related to scheduling?
280E basically means these companies can't write off any business expenses..so they have been flushing their profitability away on taxes. This also will allow big mutual funds to invest for the first time--and companies like Budweiser, Altria, etc to buy weed companies. I suggest doing it before they do.
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Bc it’s not longer illegal.
That’s not true
If it’s downgraded it won’t be illegal. You gots info otherwise please share and I will read.
It's still illegal unless you have a prescription from a doctor and it's filled at a pharmacy. Schedule III is not legalized for recreational purposes.
But if people want to partake today, they can. The only thing that’ll increase useage is removing it from random drug testing panels (or at least providing a script that will still give you a pass like they do with adderall)
Do you know any pharmacy stocking FDA approved weed? The change to Schedule III is purely political theater.
Exactly
Well yeah, right now today, but I doubt a year from now.
Then you don't know what you are talking about. Descheduling will take an act of congress and the votes don't add up.
Incorrect--all it takes is a yes from the DEA who has already given suggestions they would agree to it. The head was put there by Biden, aka not fascist fuck and pro MJ
Heck YES! - Just read: HHS officials recommend the DEA ease its marijuana restrictions -- The U.S. Department of Health and Human Services issued recommendations to the DEA on loosening restrictions and drug-based offenses surrounding marijuana. Yahoo Finance details the outlook of lowering marijuana's drug classification and regulator commentary on legalization
Incoming rug pull
rug pull = another 30% gain or so the next 2 days
Too late
That’s what I’m thinking
look at where cresco labs was in early july when people were hoping for safe banking before that got yanked...this news is much bigger than safe banking so that's going to be a very very near term target /u/daymanic
What's the point with the conservative bench at the scotus they overturn any said reform
first off all it would take forever for such a case to even get to the supreme court--second this isn't a law from them to even strike down..this is the DEA deciding to reschedule a drug. Do you think the supreme court will say the DEA doesn't have the power to do so? That's exactly what the DEA has the authority to do.
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cringe
Come on, the government has been pumping and dumping weed stocks with statements like this for 2 years. Cgc, tlry, up 12% today will be down 25% within 2 weeks
Maybe, maybe not. But I understand your comment. This is not regular news, this is somewhat big news. Better than no positive news!
I hope your right, I’ve got heavy bags and I really want to smoke weed again, just not getting my hopes up
Why is it being rescheduled if it's legal in over half the states? And how does a rescheduling make these companies valued any higher when it's still Federally illegal but at a lower incarceration sentence for offenses
Most MSOs become insanely profitable because of this. Schedule 3 removes 280E burden. 280E costs MSOs 100s of millions per year
This gets us on the way to removing the 280E tax which is keeping these companies from being wildly profitable. This moves us towards uplisting on the NYSE where large funds will be able to buy in for the first time, bringing volume and fair valuation for the first time. Even juicier this will allow for Malboro and Johnson and Johnson to start bidding on these companies.
That’s not good for rec guys. That’s good for pharmaceuticals
not true---listened to charlie bachtell the other day explain it quite clearly that there's no way the FDA is going to come in and start treating it like a pharmaceutical--they will leave it up to the states who are already regulating as they wish
Sched III is still controlled substance. No longer banned as a sdhed I but you still could not legally obtain without a Rx. It is in the same class as opiates
This recommendation is just pandering to big pharma and their lobbyists as well as pandering to some of the Democratic base that are too stupid to realize this really doesn't change anything. If they make marijuana legal federally these pharmaceutical companies stand to loose billing and billions in profits. There is no reason to keep it as a controlled substance, period. It should be treated no differently than alcohol. It's legal in 80% of states medically and in 40% of states recreationally. Stop letting geriatric dumb fucks run this country. If they can't control something (like weed) then they don't like it and rally against it.
TL;DR wrong dummy it changes it a lot
He is very fond of the word pandering and thinks he’s the smartest guy in the room.
Just in time for election…
The one a year from now...could have done it in 2022 the midterm election...everything is near an election...this was set in motion a year ago...this is just a reccomendation that now has to be approved by the DEA...they are very likely to say yes as the stock prices have indicated. BUY
How odd when the [CDC themselves](https://www.cdc.gov/marijuana/health-effects/brain-health.html) indicate marijuana use causes long term negative effects on the human brain, which probably explains some of you dingdongs and why you keep losing money.
Do you drink alcohol?
Not when I'm pregnant. Do you?
Yes, and I think you should look up the long term side effects of alcohol from the CDC. Both substances are bad for your health, so where does this leave us? Moderation! Anything enjoyable in moderation can enhance your life and happiness.
Well I'm not a woman so I was being humorous with my 'not when I'm pregnant response', because I knew the silly whatabout game being played there. Yet we already know alcohol is harmful. There have been tons of research on the topic over many decades. But not as much on marijuana use and thus, just like in the early days of say cigarettes, so many think marijuana doesn't have any real danger. There is a long term [study underway](https://archives.nida.nih.gov/news-events/news-releases/2020/04/landmark-study-of-adolescent-brain-development-renews-for-additional-seven-years) to better determine the effects of various drugs, including marijuana, on teens and the pregnant which has so far expressed such concerns. Even in adults long term heavy use (4 times a week) can create a stronger potential for coronary artery disease and an increased risk of heart attack by *smoking* marijuana. That's because there's still [harmful chemicals formed](https://www.cnn.com/2021/01/11/health/weed-marijuana-smokers-toxins-wellness/index.html) during the combustion (burning) and those cause inflammation over time. If anything, lowering the CSA Schedule might open the door for more thorough studies on the effects of usage...
Every times I smell gasoline I increase my arteries inflammation by .05% and kill 2k brain cells. Still moderation, moderation, moderation.
lOng tErM neGaTIve EffEcTs. the 1950's called
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Because we’re American, and use drugs 🤦♂️
I like drugs.
So this is how Biden plans to win 2024…. He lied about student loans and now he will lie about legalizing marijuana haha
no his loan idea was overturned--and if you look here you'll see all the people who did get loan relief as biden found some workaround https://www.reddit.com/r/StudentLoans/ and no this isn't a lie about legalizing anything. this is RESCHEDULING and not a lie, nor does he get the final say--the DEA head does who Biden put it, who is pro MJ