Washington Post Reports Rescheduling Could Be Finalized
In the latest Trade To Black livestream presented by Flowhub, Shadd Dales and Anthony Varrell break down late-breaking news just reported by the Washington Post — and the question everyone’s asking right now: Is this finally it for cannabis rescheduling? In segment one, investor Marc Cohodes joins the show to react to the Washington Post report suggesting rescheduling could be nearing the finish line. Noah Hamman, CEO from AdvisorShares Pure Cannabis ETF (NYSE:ARCA) join us to break down the price action, and what traders should be thinking about this time around. Then in segment three, Kyle Sherman joins to give his take on the Axios report, plus early 4/20 data.
Political analyst and industry insider Marc Cohodes joined the show and shared that a source close to the Trump administration had told him Wednesday would be the day for a rescheduling announcement. He outlined two possible paths forward — a fast-track route leveraging a 1961 international drug treaty that would bypass the standard hearing process, or a more traditional administrative law judge hearing that, while legally cleaner, would take considerably longer. We get into what this actually means, how seriously to take it, and whether this is real progress.
Then in segment two, the focus shifts to something just as important—how to be prepared if this does move forward. Shadd tees up what happened back on December 18 when Donald Trump signed the executive order—how the sector got aggressively shorted, and how a lot of retail investors holding short-dated options got caught on the wrong side of that move. Noah Hamman, CEO of AdvisorShares and manager of the MSOS and YOLO cannabis ETFs, then joined to discuss the day’s price action, with MSOS posting strong volume of over 55 million shares. Hamman cautioned that while the headlines were encouraging, nothing had yet been filed or confirmed, and noted that the underlying stocks likely remained below fair value even after the day’s rally.
Flow Hub CEO Kyle Sherman closed the show with a detailed breakdown of 4/20 sales data. Overall volume came in roughly 12 to 15 percent above the prior year, with analysts projecting industry-wide sales of $400 to $430 million for the day. We get into what the numbers are showing so far and what operators should be paying attention to coming out of one of the biggest days of the year. Three segments. One question: Are we actually close this time?
