Monday Cannabis CEOs Listen Up!
Stocks jumped higher on the last Monday of the month and quarter. Is this a little quarter-end “window dressing” or are investors looking to take this bull market to new levels?
Cannabis stocks are not making any progress so it is hard to write day-to-day. We have noticed the manipulators are being forced further “down market” as their influences have greatly diminished. These groups have been targeting the sub penny stocks as we have seen 100% moves in a few stocks over the last several trading days.
Calling all cannabis CEOs: the market is kindly asking for you to stop with press releases that recap industry updates. There are plenty of online and print publications that readily provide this information to the public. Today, I am referring to Hemp, Inc. Bruce, don’t feel compelled to go through the effort to put out this information. The burden is off your shoulders as the industry has it covered.
Daily Positive: While the state of New York is busy pigeon-holing its medical marijuana law—making it difficult to access for patients and challenging to run for businesses—Rhode Island might experience the very opposite.
Rhode Island is progressing in its march toward adult-use legalization. While not a big state, it is a bold statement for the region. Some states may be looking for another state to be first and show what we know on the western part of the country to be true: legalization = regulation, revenue and safer consumption. Further, Rhode Island suffers from budget issues (trust me, I used to be a taxpayer) and legalization would certainly bolster the state’s economy. Legalized marijuana would boost the state treasury by $58 million a year in taxes, as projected by the Marijuana Policy Project.