The optimism following the SAFE Banking Act clearing the House Financial Services Committee was short-lived.
And now cannabis investors are searching for a rebound following last week’s big drop.
U.S. Attorney General William Barr was a downer for investors when he told the Senate he would still “favor one uniform federal rule against marijuana.” That’s in place of relying on the current model where states have authority.
But Washington drama is nothing new for the industry.
With that in mind, the Food and Drug Administration has scheduled its first hearing on CBD in food and drinks!
Unlike Barr’s comments, this is actual news.
On May 31, the agency will hear testimony on how to regulate this newly legalized market. This is something I said would have to happen soon… and here it is.
The FDA and the Federal Trade Commission also recently sent warning letters to three companies for making unproven claims about CBD.
Again,it’s important that we start to wrangle the Wild West. It will be good for investors and consumers.
To kick off April, Colorado’s Department of Revenue released its monthly sales figures.
And as we expected, cannabis sales in February declined 4.37% sequentially…
This is the same pattern we’ve seen recently in Canada. And this is exactly the ebb and flow we anticipate.
February should be the slowest month. But keeping in line with the trend, March marijuana sales should skyrocket to a new record.
And that should help propel pot stocks higher!
Last week, my team and I headed to the Cannabis Science Conference in Baltimore.
It was a great opportunity to focus on the technical and medicinal side of the industry. And it gave us time to rub elbows with a number of professionals in the field, including Dr. Jordan Tishler, president of the Association