U.S. equities have now rallied four straight days. Today’s gain was mostly attributable to the ECB’s QE coming in larger than what was disclosed yesterday. The “Draghi Rally” puts U.S. equities back in the black for 2015. The S&P 500 gained 1.52% to 2,063.
Cannabis stocks started the day under selling pressure. However, the negative pressure eased a bit as broader markets lifted higher. Volumes are generally unimpressive with today’s press releases largely confined to the PINK companies.
Daily Positive: Stocks aren’t responding to individual company press shenanigans quite the same way that they were this time last year.
Daily Negative: MJNA announced today its intention to purchase Kannaway, which is said to be valued at $120-$243 million dollars. We are highly suspicious of the valuation and execution of such a transaction. Note, MJNA is traded on OTC PINK with an actual warning sign on its quote page of the OTC Markets. The SEC is warning about unsolicited quotations.
What if the opposite of addiction is not sobriety, but human connection?
It is important to acknowledge all sides of legalizing cannabis and understand that not everything is perfect. One side we have heard is the story around addiction. Addiction is very real and very serious. However, addiction is rooted far deeper than many might understand or perceive at first glance. First of all, studies have shown that cannabis is far less addictive than myriad other substances both legal and illegal. For example, sugar is far more addictive and potentially deleterious than cannabis, just one look at our nationwide obesity stats and spike in type 2 diabetes is enough to know that as truth.
Further, addiction is an illness, not a crime. The problem is that we’ve been fed a story about the “addictive properties” in drugs and other substances, but we often overlook the reason why someone becomes addicted in the first place; it is often sadness, depression, loneliness or any other emotional gap.
Like we said, addiction is real and serious, so it is important to keep this in mind. However, it is not something to let opponents run as their headline against cannabis. Legalizing cannabis so that it can be controlled for quality and dosing can only help to educate people and prevent misuse of the plant. The industry is pleading for more research to be done, so we can understand the properties more fully. All of these moves take the power out of the black market, which has always been a good friend to addiction.
Information is power and knowing the talking points around this issue will help to shift perceptions for future progress.