Near Term Cannabis Newsworthy Events
There are a number of newsworthy events coming up in the next few months that could affect the legal cannabis market. Here are some thoughts on each –
Oct 17 - Canada goes “recreation legal” nationally next week, and from my understanding, the ramp up to this has been difficult. There could be long lines and supply shortages as companies have tried to comply with the regulations. Canada is the first G7 country to pass a national recreational legal law and I think there will be a lot of media coverage bringing attention to the industry as a whole.
U.S. Midterms - The Democrats seem to have a chance of retaking the House in November based on early polls. If that happens, it could be very favorable to the cannabis industry. Michigan and North Dakota are voting on adult use, while Utah and Missouri are voting on medical. Some other states are voting on more modest provisions like decriminalization.
Sessions Out? – Some people think Jeff Sessions is on the way out. Sessions has been an open opponent of legalization, so if his replacement has a softer view, it would likely be positive.
The industry is very news driven right now with "events" often causing movement in prices. The ones above are particularly noteworthy in the near term. As always, volatility is elevated in this industry, so it is important to consider that in the context of your broader financial plans.