For all that’s worked in favor of marijuana stocks in recent years, there are plenty of risks. Some of these risks, such as profitability eluding most pot stocks, are readily apparent.
Tag Archives: Politics
You could call it a true grassroots movement: petition circulators not trying to legalize hemp and marijuana, but to start up a new third Nebraska political party.
Massachusetts voters have strong doubts about the state’s ability to oversee the new law legalizing recreational pot, and most are concerned it will be influenced by politics, according to a new poll conducted by the Bernett Group for the Boston Herald.
With multiple companies showing returns of more than 100%, you have what has turned into one of the more attractive sectors for investors in 2017. But is this the right move? Are marijuana stocks worth it? Most importantly, is now the time to invest in marijuana stocks?
The Colorado Senate has approved marijuana clubs, where members can bring their own pot, according to a March 9, 2017, article by the Associated Press. Under the senate bill, the marijuana clubs would only be permitted to serve light snacks. Alcohol would be prohibited. However, Gov. John Hickenlooper has suggested he might veto the bill.
A committee in the Colorado House has voted to restrict the number of home-grown marijuana plants to 12, according to the Associated Press. The committee voted 11-2 for the limitation. Currently, medical-marijuana users are allowed to have up to 99 plants at home, while recreational users can have six, which can be placed in greenhouses operated by co-ops.
As U.S. Senate hearings began on Jan. 10, 2017, for Sen. Jeff Sessions, President-elect Donald Trump’s anti-marijuana nominee for Attorney General, rumors about the Drug Enforcement Agency shutting down dispensaries were already circulating.
For Texas legislators, it might be easier avoid political repercussions by placing new marijuana laws on a ballot, instead of voting themselves, Jason Miller, director of communications for the Houston office of the National Organization for the Reform of Marijuana Laws, told the Houston Press for a Nov. 25, 2016, article.
Utah’s Democratic gubernatorial candidate called for legalizing medical pot after his wife pleaded guilty to misdemeanor possession. Under current Utah laws, Mike Weinholtz said, doctors have only one option for some conditions: opiates. But his wife was able to enjoy physical activities after using pot.
Temple University will offer a Marijuana 101 course next year, according to Philadelphia Magazine. The course was created by Linn Washington, a professor in the the Temple School of Media and Communication, and Chris Goldstein, a writer and marijuana activist. It is designed to cover all the basics of marijuana, including history, agriculture and pop culture.
Some marijuana advocates in California are opposing Proposition 64, also called the Adult Use of Marijuana Act, a legalization effort that will appear on the state ballot in November. Among the opponents are some who worry about what recreational legalization will do to their medical-marijuana businesses.
While California law enforcement officers remain outspoken against marijuana legalization, supporters have outspent opponents 40 to 1, according to a July 31, 2016, article in the Orange County Register. The top five pro-legalization donors have given $6.5 million, versus the top 5 opposing donors, who have given only $159,150.
Legislators and business leaders in Texas are making the case for decriminalizing marijuana in their state, according to a July 18, 2016, article in the Austin American-Statesman. They are trying to address a common problem. Minor, nonviolent drug offenses often prevent people from getting jobs due to their criminal record.
Georgia Republican Dale Jackson, chair of the state party’s Third District, is heading to the GOP National Convention in Cleveland in hopes of convincing party officials to include an endorsement of medical marijuana in the party’s platform.
The hip hop artist and activist Prince Ea educates a President Obama impersonator on marijuana policy in his remake of the video for “Why Weed Should Be Legal,” released June 27, 2016. In a blog post of the same day, Tony Newman, director of media relations at the Drug Policy Alliance, wrote, “This epic 10-minute video is both a history lesson and an advocacy tool…”
A pro-legalization political action committee in Nevada, Coalition to Regulate Marijuana Like Alcohol, raised more than $100,000 this month. The PAC supports the Initiative to Regulate and Tax Marijuana, which will appear on the November ballot. If voters affirm the initiative, Nevadans 21 years of age and older will be able to use marijuana recreationally.
California Lt. Gov. Gavin Newsom is telling supporters of the Adult Use of Marijuana Act legalization is not a sure thing. The Adult Use of Marijuana Act is expected soon to be set for November’s ballot, but Newsom, speaking to the National Cannabis Industry Association’s convention in Oakland, Calif., on June 21, 2016, said that does not guarantee its passage.
If you were arrested for simple possession of marijuana in public view while in New York, that part of your criminal record could be sealed. The New York State Assembly voted June 15, 2016, to seal those records with a 99-42 vote including support from both major political parties. Now supporters are hoping the state Senate will pass a complementary bill.
The Marijuana Policy Project has endorsed Libertarian Party candidate Gary Johnson for president. “We don’t take a position—and we therefore don’t take into account a candidate’s position—on other issues, such as abortion, guns, gay rights, Iraq, taxes, or Social Security,” Rob Kampia, Executive Director of the Marijuana Policy Project, said.
Louisiana Gov. John Bel Edwards wants to allow broader use of medical marijuana in his state. The Democratic governor expressed support for a bill authored by Republican Sen. Fred Mills of Parks, La., that would allow more diseases to be addressed with medical marijuana. But Edwards insisted he did not want legalized recreational pot.
California Gov. Jerry Brown signed into law three medical marijuana bills, the largest overhaul in state history. Although medical marijuana has been legal in the state for nearly two decades, the industry has been fraught with inconsistent laws and sporadic enforcement.
On August 5, 2015, Chuck Rosenberg, the new head of the Drug Enforcement Agency, set the headlines buzzing with the surprising admission that “heroin is clearly more dangerous than marijuana.”
On June 27, 2015, the Washington state legislature passed HB 2136, a bill aimed at revising and streamlining the state’s marijuana regulatory system. With a vote of 36-7, the reform bill passed the Senate with overwhelming bi-partisan support, while the House vote was much closer at 59-38.
Political consultant Ian James gathered enough signatures for his name to appear on Ohio’s November ballot for a state initiative to legalize marijuana. A lawyer helped him draft the constitutional amendment, which states only 10 growers would be allowed to supply Ohio’s cannabis market on 10 specific land parcels.
Cannabis stocks ended the week on a mixed note. We are pleased to see better volumes and capital flowing to better names.
The city of brotherly love has just gotten a lot more loving. Philadelphia Mayor Michael Nutter confirmed that on Monday, September 15, he will sign into law a bill which decriminalizes marijuana. The bill will institute a $25 fine for simple possession of 30 grams or fewer instead of jail time. Once the bill is signed, it will go into effect on October 20.
Reporting from WASHINGTON—
For narcotics agents, who often confront hostile situations, Capitol Hill has been a refuge where lawmakers stand ready to salute efforts in the nation’s war on drugs.
You have to love a scrappy fighter. The District of Columbia legalized marijuana for medical use in 2010. In March 2014, the DC City Council moved to decriminalize private recreational use. On June 25, 2014, House Republicans moved to block funding for that law.
There’s no escaping Colorado’s status as the poster child for legal recreational marijuana when visitors come to town, even — or especially — when Denver is trying to sell itself as the perfect site for a national political convention.
A medical marijuana bill in Florida is on the brink of passing, as is a medical marijuana bill in Minnesota.
Quinnipiac University news release from April 28, 2014: researchers report on opinions in Colorado following the January 1, 2014, legalization. The overall conclusion is good news for marijuana investors. The system is bedding down nicely. The majority seem content, although some dissent is inevitable.
As medical marijuana barriers come tumbling down across America, the smart money is wondering which state will follow Colorado and Washington down the road to full legalization. The answer does not lie in a single factor model. First the people must vote. Next their legislators must be in sync. Finally, the governor must go along with the decision.
Massachusetts flies in face of federal law, but Boston opposes it. Mayor Walsh tries to stymie medical marijuana in state capital. Healthy democracy?
CNN’s Chief Medical Correspondent digs deeper into the use of Medical Marijuana
Move puts D.C.’s laws on marijuana among the most lenient in the nation