The Morning Blunt
Volume 2| Issue 17
October 17, 2018
“Never give in except to convictions of honor and good sense.”
Canadian pot stocks are hoping for a rally for legalization day but it isn’t likely to come. According to Seeking Alpha’s Biotech Beast Oct. 17th might be a better day to close a long or start a short.
Columbia Care CEO Nicholas Vita discusses how Canada’s recreational legalization will impact the medical industry and how that could also be a driving force in US policy.
Aurora Cannabis just dumped The Green Organic Dutchman. After letting an offer to further invest in the company expire, Aurora disposed of over 5 million shares last Wednesday and Thursday netting a profit of C$20.63M.
The Motley Fool’s Sean Williams reports on his top five unique cannabis picks for October. His top five stocks include GW Pharmaceuticals, KushCo Holdings, Liberty Health Sciences, CannaRoyalty Corp., and OrganiGram Holdings.
There are some ETFs that specialize in cannabis stocks hoping to jump on the global marijuana market. AdvisorShares Vice ETF has made a poor attempt at including cannabis stocks among its other sin stocks, imposing strict guidelines limiting its scope to ancillary pot businesses following US federal laws.
Legal cannabis users can be turned away at the border for admitting to recent or habitual use. Law enforcement officers can permanently ban entry to the US which requires the approval of a $930 waiver. While states like California and Massachusetts have legalized cannabis use federal law prevents Canadians from consuming cannabis while in the US.
A deal between cannabis and big tobacco only makes sense. Tobacco has the resources to invest in the growing cannabis space and diversification only makes sense given tobacco’s shrinking customer base. Altria has been looking into the space potentially striking a deal with Aphria.
A new report from Prohibition Partners shows that the Latin American cannabis market could be worth $12B in the next decade. With its attractive climate for cultivation Latin America has a lot of promise to develop into a cultivation region, however there are many obstacles still to be faced.
Instagram seems to have inconsistent policies regarding cannabis businesses like that of Facebook. Many cannabis companies are more than willing to abide by policies however a lack of clarity surrounding policy clouds the social media system. While companies like Leafly, High Times, and Weedmaps are welcome to post cannabis content, many other businesses operating under the same code of conduct are having their accounts removed without explanation or warning.
Massachusetts financial institution GFA Federal Credit Union will become the first banking institution in the Commonwealth to work with cannabis businesses in the recreational industry. GFA believes it has found a legal and profitable means to provide services to cannabis businesses.
California’s superior court ruled police officers who confiscate cannabis from suspects are required to return the marijuana to its owner. Originally officers felt giving back pot to its owner would be distributing cannabis which is illegal under federal law, however the superior court felt the act of officers giving cannabis back was a legally binding court order.
Despite the 173 applications for storefront cannabis dispensaries, only one store will be opening today in the province of BC. Shortages are to be expected as business ramps up over the next few months.
Cannabis and alcohol differ in a variety of ways legally such as outdoor public consumption or restaurant consumption. Check out Edmonton’s list of dispensaries and some consumer guidelines but be aware your province laws may differ in some ways.
Canada’s cannabis laws are going to be a sloppy mess for users to traverse. Each province and territory have their own laws surrounding cannabis leaving consumers to blindly navigate the new legal landscape.
Micron Waste Technologies Inc., a developer in digester solutions for the treatment of organic waste, partnered with Quest Resource Management Group to distribute and market Micron’s Cannavore cannabis waste processing system in the US.