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Pot stocks
Posted on 2/6/24 at 3:30 pm
Posted on 2/6/24 at 3:30 pm
I've been in several names for over a year - AYYWF, GTBIF, VRNOF, etc.
It's been a crazy ride. They were up huge, then back to even - now up REALLY HUGE. I've trimmed a bit in the past week or so, but look at this:
LinkedIn - Adrian Sneed
This space is rife with rumor and "announcements". Rescheduling would be huge news - but DEscheduling would be absurd. I guess we'll see...
It's been a crazy ride. They were up huge, then back to even - now up REALLY HUGE. I've trimmed a bit in the past week or so, but look at this:
quote:
Big hashtag#cannabis announcement is coming from the Administration this week. A highly placed Administration source confirmed that there will be a big announcement regarding cannabis likely this week. I suspect it will be a rescheduling decision from DEA, but it could also be something more drastic. Last week, senators Warren (D-MA), Fetterman (D-PA), Schumer (D-NY), Booker (D-N.J.), Jeff Merkley (D-Ore.), Bernie Sanders (I-Vt.), Kirsten Gillibrand (D-N.Y.), Ron Wyden (D-Ore.), John Hickenlooper (D-Colo.), Peter Welch (D-Vt.), Chris Van Hollen (D-Md.), and Alex Padilla (D-Calif.) urged President Biden to swiftly deschedule marijuana. We will see what the White House and Admin ultimately decide, likely sooner than later.
LinkedIn - Adrian Sneed
This space is rife with rumor and "announcements". Rescheduling would be huge news - but DEscheduling would be absurd. I guess we'll see...
7
Posted on 2/6/24 at 5:36 pm to Big Scrub TX
quote:
Rescheduling would be huge news - but DEscheduling would be absurd. I guess we'll see...
LINK
quote:
The U.S. Drug Enforcement Administration is currently “conducting its review” of an earlier recommendation that the agency reschedule marijuana, a DEA official recently told a federal lawmaker.
The potential rescheduling of marijuana started with President Joe Biden’s October 2022 executive order that federal cabinet-level agencies reexamine the drug’s status under U.S. law.
Biden’s edict led to an Aug. 29 recommendation by the Department of Health and Human Services that the DEA should move marijuana from its current status in Schedule 1 to Schedule 3 of the Controlled Substances Act.
Biden's team is desperate for anything positive for him to glom onto in his re-election campaign. Rescheduling would be good for him, but descheduling would cause impromptu parades in some places.
Either way should give the stocks a solid boost, at least for a little while.
This post was edited on 2/6/24 at 5:37 pm
Posted on 2/6/24 at 11:38 pm to Bard
quote:Frankly, I was pretty surprised that Trump didn't do this in September 2020.
Biden's team is desperate for anything positive for him to glom onto in his re-election campaign. Rescheduling would be good for him, but descheduling would cause impromptu parades in some places.
Posted on 2/7/24 at 6:39 am to Big Scrub TX
There are some decent ETFS.
But Scott’s Miracle Grow seems like a safer play.
But Scott’s Miracle Grow seems like a safer play.
Posted on 2/8/24 at 7:08 am to Hayekian serf
I've bought over 20 marijuana stocks.... none of them have merged or made ANY money
Posted on 2/8/24 at 7:24 am to Big Scrub TX
Posted on 2/8/24 at 7:28 am to Big Scrub TX
Don’t hold your breath. The market will bounce around election time and then come crashing back down to reality. I hope I am wrong, bag holder of Tilray and MSOS.
Posted on 2/8/24 at 8:45 am to Big Scrub TX
The last one I bought was an ETF. MJ. Not a big fan.
Posted on 2/9/24 at 5:21 am to 3D
At least SMG pays a nice dividend.
While not a true cannabis play, they have invested heavy into that market.
While not a true cannabis play, they have invested heavy into that market.
Posted on 4/30/24 at 2:06 pm to Big Scrub TX
Posted on 5/1/24 at 11:26 am to Big Scrub TX
And now they're giving all those gains right back today. Did something else come out that casts doubt on the DEA re-scheduling news?
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