On this week’s Trade to Black podcast, TDR Founder Shadd Dales and lead financial writer Benjamin Smith tackle this week’s news in the cannabis and psychedelics industry. The big news this week is the Cannabis Administration Opportunity Act being introduced to Senate. But there’s some more thoughts on the NDAA and Netflix’s docuseries on psychedelics, and the potential changing of sentiment towards the industry.
Here’s some highlights:
The Cannabis Administration Opportunity Act Hits The Senate Floor
The Cannabis Administration Opportunity Act was introduced with many of the same tenets as it had in July 2021. Pretty much the same thing, says Benjamin. And nobody believes it’s going to pass thanks to the situation with the Senate.
Why are they presenting this bill now? Even the original April introduction date didn’t really make sense. It’s not like the Safe Banking Amendment, which was included in the NDAA. There’s a lot of pressure to get it rammed through.
Benjamin’s got some theories, building on the conversation last week.
Will Optics For Cannabis Improve Once It Crosses The President’s Desk?
The Medical Marijuana and Cannabinoid Research Expansion Act was introduced to congress last week. So far, it looks like it’s being fast-tracked for action. There’s a possibility it could be sent to the President’s desk next week.
Should it get past congress, it’ll be the first cannabis bill presented to the President. Shadd and Benjamin speculate on how this piece might change government sentiment towards cannabis, especially since the senate has been so reluctant to pass legislation.
Is It Time For Cannabis To Start Upticking After 18 Months In A Downward Trend?
The past 18 months hasn’t been kind to the cannabis industry, senate and congress side-eye notwithstanding. The buzz on social media has a lot of sentimental people pushing strong on Tier 1 MSOs, and there’s a lot of hope for legislative changes.
Benjamin says the first word that comes to mind is ‘complicated’ when he thinks about the next year for cannabis. The industry looks like it will have no trouble continuing to thrive, but it might look a little bit different when it comes to an investment thesis.
Be sure to tune in to hear what he and Shadd have got to say regarding the investor outlook and let us know if you agree. You can join in the conversation on Twitter and YouTube in the comments. We’re always happy to hear from our listeners.
Also up on this episode: What Mitch McConnell’s actions mean for the Safe Banking Act between the House and Senate versions of the Bill, why he and other Republicans seem to be against gaining a fresh perspective on cannabis, and the Netflix documentary on psychedelics ‘How to Change Your Mind.’ All this and more on Trade to Black.
To view the previous Trade To Black Podcast, click here.