The CEO of Cresco Labs (CNSX: CL), Charlie Bachtell, joins us on today’s Trade To Black podcast. As one of the CEOs most connected to Capitol Hill, he’s in a unique position to give us insight on SAFE Banking and other changes being examined by politicians. On the agenda today, we discuss the impact that regulatory changes may have on the cannabis industry – and some of the opportunities we could see such as CBD and cannabis advertising.
Cannabis stocks are still trading high over a week after the surprising but welcome recommendations to reschedule cannabis from I to III. As we’ve mentioned in previous podcasts, this could have a positive impact on the financials of many cannabis companies by exempting them from 280e, among other things. Bachtell describes exactly so huge this would be.
That investors are finally getting interested suggests we may have turned a corner, and this could be the ‘first domino’ to fall in a growing surge for the entire industry. Many states now are discussing recreational use, and Bachtell gives us his thoughts on adult use timelines for them. It’s not just a matter of getting the laws passed; there are different aspects that have to be tackled.
Beyond tax implications and real estate needs, the discussion also brings up an interesting potential: cannabis-related advertising, during major events like the Super Bowl. We touch upon a previous attention-grabbing PR stunt and speculate about the possibility of seeing such advertisements in the future. Initial steps into this space may involve promoting cannabis beverages, taking advantage of changing stances by professional sports leagues, and the availability of CBD advertising.
Looking ahead, Charlie is excited about the company’s ability to compete and succeed in specific markets. He emphasizes his determination to improve operations and boost margins, showcasing recent progress made during challenging times. Be sure to catch the full discussion when you tune in to the podcast!