With a new administration seemingly open to marijuana legalization and more and more states taking action themselves, stocks for cannabis companies within and outside the country feel like solid bets.
Therefore cue the WSB army, who just last month ransacked the stock price of Gamestop, AMC, Nokia, and others, leaving very little behind.
In particular, Sundial (SNDL), Tilray (TLRY), and aphria (APHA) have come under intense Reddit scrutiny. Just yesterday, Tilray, a Canadian cannabis company, had its stock rise 36%. However, with the attention of WallStreetBets also comes volatility, and today the stock is plunging back down, now under 41% of where it opened.
And attention already seems to be waning, with many on the subreddit eyeing Bumble as their next victim. Hopefully, this will leave the cannabis sector to itself and back to normalizing, where it’s incremental yet steady climb will continue throughout the year.
An interesting article written in NJ.com that sheds light on the arrests happening over marijuana despite the state voting to legalize it in November.
“Someone should remind Gov. Murphy, because it’s the end of January and thousands are still being busted for pot. In November alone more than 2,100 New Jerseyans were arrested for marijuana. In December, it was 1,700. Odd, weed doesn’t feel legal?”
Read the original at NJ.com
Of all the fun places to do mushrooms, Hawaii seems high on the list. Well, the State Senate took note, and a new bill introduced by multiple senators aims to do just that.
Like Oregon, the bill would create a therapeutic environment around the mushrooms and remove it from its Schedule I listing in the Controlled Substances Act.
This has yet to be scheduled for a hearing, but seems like another good sign that psychedelics are quickly following in marijuana’s footsteps.
Introducing: Ask a budtender. Our new advice columnist is answering your questions in a monthly column.
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“I commend state officials for prioritizing the implementation of Prop. 207 and ensuring that Arizona adults have safe and convenient access to affordable marijuana in a timely manner.”
The post Arizona: Adult Use Marijuana Sales Begin appeared first on NORML.