Jim Cramer explains why many cannabis stocks were lower Wednesday morning
Jim Cramer explains why many cannabis stocks were lower Wednesday morning
CNBC’s Jim Cramer explains how the election results are impacting some of the big cannabis stocks. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
Oregon on Wednesday became the first state to legalize the active ingredient in so-called magic mushrooms on an election night that saw more states ease restrictions on recreational drugs across the country.
Oregon’s Measure 109 will give legal access to psilocybin, the main active ingredient in “magic mushrooms,” for mental health treatment in supervised settings. As of Wednesday at about 6 a.m. ET, the measure was passing with 55.8% support and over 2 million votes cast, according to Oregon’s Secretary of State.
While some cities have moved to legalize and regulate access to the drug, Oregon will become the first state in the country to legalize it on a statewide basis if the measure passes and becomes law. Supporters of the measure point to the medical benefits of the drug, which has been shown in some studies to benefit trauma survivors.
Through Measure 110, which has captured more than 58% of the vote so far, Oregon would also decriminalize the possession of small amounts of some hard drugs, including heroin and LSD. Instead of criminal prosecution, people in possession would face a $100 fine, which can be waived if the person agrees to pursue treatment, according to the measure.
In an election year like no other, Oregon is just one of several jurisdictions that drug deregulation advocates are cheering.
In the District of Columbia, voters elected to decriminalize the use of magic mushrooms and other psychedelic substances with the passage of Initiative 81. As of about 2 a.m. ET, the initiative had passed with a landslide 76.3% of the vote.
The measure will still face hurdles before it becomes law. Next, the D.C. Council will review the measure with the option to overturn it or send it on to Congress. Congress then has 30 legislative days to block the measure or allow it to become law.
A spokesman for the American Psychological Association said the organization does not have a stance on either the legalization or decriminalization of psychedelic drugs.
In addition to psychedelics, a number of states asked voters to choose a path forward for the regulation of marijuana. In New Jersey and Arizona, voters elected to legalize recreational use of marijuana.
In South Dakota, voters passed one of two marijuana ballot measures, making the drug available on a medical basis across the state. And in Mississippi, a majority of voters approved an initiative that would set up a medical marijuana program for patients with debilitating conditions.
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I want what he’s smokin’.
David 🇯🇲🔥🤣
If Biden wins. I get another $25,000 through cares act and I don’t have to go to work for another 8 months. As Biden likes to say, "Shut it down". $50 grand and 16 months of relaxation. For me, wealth has been distributed. This has been a great vacation. SARs, MER, Swine Flu, Covid 19. All from china. What’s the next one going to be called? I’m just a LYFT driver but now I have $20 grand In TESLA stock, which could have Never happen if the government had not given it to me. I love the USA.
The Corporate Media Complex feeds the sheep
Buy WFC , SLV and KDP stocks
The GOP and the Religious Right clearly have no morality. It’s only about the money. Pot will be legal someday simply due to the attraction to the potential tax revenues.
I bought Amazon, Apple, Nvidia, Facebook, Microsoft, Google, Wells Fargo, CRM, , Broadcom (AVGO), Adobe,
This cannabis stock is already global. It will run! https://youtu.be/9onhQzzU9og
There are other Canadian and American MJ stocks that are cashflow positive and growing quickly. I’d suggest putting these profitable and cashflow positive companies on your watch list.
Canadian: Delta 9 Cannabis (DN.TO), The Valens Company (VLNS.TO), OrganiGram Holdings (OGI.TO) and Hexo Corp (HEXO.TO).
American: Cresco Labs Inc (CL.CN), Chronos Group Inc (CRON.TO), Green Thumb Industries Inc (GTII.TO)
I’ve put ticker endings in CAD since I am Canadian but you will find them on American Exchanges as well. Let’s enjoy the growth and development on both sides of the border over the next 1-3 years especially!
👏👏👏👏👏👏👏👏👏
Incredible APHA video here
https://youtu.be/9onhQzzU9og
I believe that is a Sean Paul song reference
Republicans wont allow it in the senate
https://survivalnomicsnow.com/marijuana-stock-pick-for-a-biden-presidency/
Trumps idea of voting, stop counting when I show a lead, lol
Should be legal
It’s our turn to loot and burn the houses that have Biden signs,
And if the they try to stop you, don’t worry, they believe in equality and gun control.
To each according to their need.
One day later, they’re mooning.
Cannabis is a way wonderful alternative to alcohol
Don’t mix good cannabis & drink alcohol
They’re all in Canada
*”WHO ELSE HAS BEEN A FAN FOR A LONG TIME?”*
“¡ᴍ ɢɪ🄵ᴛɪɴɢ ᴇᴠᴇʀʏᴏɴᴇ ᴡʜᴏ ʟɪᴋᴇs ᴀɴᴅ sᴜʙs ᴛᴏ ᴍᴇ”🥑
ITS ABOUT TIME!
Biden 2020