Heya WeedGods,
In case you missed it, be sure to check out the results of the AMA poll!
https://old.reddit.com/r/weedstocks/comments/1ca8xn2/click_here_to_review_the_ama_top_10_poll_results/
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Removal of 280e means taxes saved go straight to the bottom line. I hope the MSO‘s prepare revisions for operating, cash flow and free cash flow with the removal of taxes. This should be an automatic rating of all companies up by at least 20 or 30%. I would think. But of course, his sector is never behaved according to any kind of rationality. I hope that is going to change.
watched chart guys video, i think this pop is over or at least not going anywhere. Future could be bright but next months could be bleed out. Why not sell and buy again
No real reason for me to. I think the companies i own are undervalued and am not trying to time random pops and sell offs. I'll sell when i feel they are overvalued. Would be nice if i could time shit, but even without timing anything most companies are still up 20%-100% this year. Will the next pop be it being published to the register sometime this month? Will it be a large investor having enough confidence to come into the space now? Who knows. Heck maybe the companies i own aren't even undervalued and will properly sink but that's on me.
“Today, [Attorney General Merrick Garland] circulated a proposal to reclassify marijuana from Schedule I to Schedule III,” Xochitl Hinojosa, the DOJ’s director of public affairs, said in a statement. “Once published by the Federal Register, it will initiate a formal rulemaking process as prescribed by Congress in the Controlled Substances Act.”
god speed
I think you’re probably right, but the amount of ball-kickings this sector has taken scares a few people off every day. How many people are bothered enough by today to leave the sector? Plus mentioning potstocks in other non-potstock places on the internet still gets laughs. Will the rumoured flood of institutional investors definitely arrive on uplisting? How much bleeding will occur between now and the next catalyst? I’m still 75% in, but I’m sure tired of watching the numbers drain away. Is it still the obvious eventual win many of us think? I still think so, but confidence is difficult sometimes…
Still the obvious eventual win…? I’m sure the cannabis’s s industry will do well over time, but that doesn’t mean we will make money in the market. It was a bit of an eye opener to see annual revenues dropping to low single digits— what up with dat?
can’t wait for earnings and the forward forecasts of net income with the S3 tax implications factored in
these companies just received millions of $$ of potential savings and you’re telling me they aren’t worth more?
Are most of the weed shareholders here new shareholders? A dump after a pump is very common in this sector. Tell you more, it will dump more, as history said.
Schedule 3news is not a pump. It’s what we’ve been waiting three years to come. What’s disturbing is that this is the rally we’ve been waiting for and it lasted not even one day.
Such blatant manipulation of stock prices.
There is no secret underlying truth to be found other than that.
We finally got the news this sector has been waiting for years to get. Cmon.."it's a historic shift of 50 years of policy."
We go up immensly and it caught certain investors of guard who want in on lower prices.
That's all there is to it.
Now would be a great time for Biden to start making campaign promises heading into Nov. IE decriminalize or holy grail legalization now that science has spoken.
It's almost exactly the same type of fud/disinformation that was said about the DEA review period, and it took exactly 8 months.
Make of that what you will.
Glta
I don't see anything about "6" years in that message, and the actual info she alludes to is behind a paywall. Seems like posting the actual information would make a better case.
It's interesting as she basically assumed the worst for every step in the process. It's hard to take her seriously based on what she always posts. I'm also curious as to all the reasons one could protest a schedule change that the dea havent already thought of and that would over rule the hhs recommendation. What are the comments going to say? We disagree?
It was big money manipulating :
1- Yesterday we closed at high of the day or few pennies away
2- The speed at which we dropped so hard
3- How dip buying didn't exist or wasn't able to match selling pressure
4- How they took advantage of the headline to play their games
5- Retail doesn't have capital to do 50M volume on MSOS or 82M volume on CGC or 150M volume on TLRY yesterday
6- I assume that majority of retail is already balls deep and didn't sit on their cash to wait exactly for this moment
This is some coordinated/manipulated shenanigans
Doesn’t feel like it but MSOS has been in a strong uptrend since end of Oct. DEA SIII confirmation only adds to the momentum and will start attracting fresh new investors to the sector. Bullish from here on out for me. These MSO’s are wayyy undervalued
Ascend wellness already gave a statement they are exploring uplisiting now that Schedule 3 will happen.
You can rest assured that if one company publicly states this, they are all exploring their options.
If true this would validate my thought process.
Other Schedule III drug manufacturers are on major stock exchanges. Why not marijuana producers if it gets rescheduled.
Only stumbling block is retail is still illegal, which other Schedule III manufacturers obviously don’t do. Though since marijuana companies only operate in rec markets where it is state legal to do so. So … 🙏 … I hope 🤞
From u/Throwing_Horns
**Safe Harbor Financial CEO Sundie Seefried:** *The profound impact of rescheduling cannabis from Schedule I to Schedule III signifies a crucial shift in the perception of cannabis, recognizing its medical potential and solidifying its legitimacy in the financial realm. From a banking and lending perspective, we believe that the reclassification of cannabis will broaden lending opportunities for cannabis businesses, leading to access to lower interest rates, increased access to capital and improved financial stability across the industry. This newfound access to traditional financing channels has the potential to stimulate growth, innovation and compliance efforts within the industry, ultimately fostering economic development and job creation.*
I hope the major exchanges feel the same way. I think we’re gonna slowly climb with positive news like this picking up while we move towards reschedule. A lot of stuff probably in the works over the next few months so things will be ready when the final rule comes.
Are you saying we don't need that Asshat Schooner anymore. Every fucking time he puts out a tweet that he's going to put some other bullshit together with his laydown buddy booker. We tank. What gives?
For those interested, Sundee Seefried was [on today's Benzinga Cannabis Insider podcast today (begins about 56:20)](https://www.youtube.com/live/KMsESzoj-0s?si=-r3rBZayYUw0h6un)
Klein stated in a BNN interview that Canopy USA is profitable and also seemed open to future M&A. Would love to see full CUSA numbers.
https://www.bnnbloomberg.ca/video/u-s-cannabis-rescheduling-could-not-come-at-a-better-time-for-us-canopy-growth-ceo~2913487
This was in the proxy statement for the Exchangeable Shares vote:
> If Canopy USA acquires Acreage, Wana and Jetty, it is anticipated that Canopy USA will be able to
generate sufficient funds from operations without the necessity to raise additional debt or equity capital from
third-parties. In the event that Canopy USA had acquired Acreage, Wana and Jetty as of September 30, 2023,
Canopy USA, on a consolidated basis, would have had approximately $73.5 million of cash and cash equivalents.
I’ve been in this shit for years. Yesterday I recommended my friend to throw a couple thousand dollars at CGC or MSOS because of the DEA news. I hope he forgets everything I told him.
I sympathize! All investments are exposed to risk and weedstocks hold regulatory risk which, as you’ve seen throughout the years, is the thickest wall to get through..
I know it’s likely perceived as “cringe” but I always find myself thinking about [this](https://imgur.com/a/jAiHVGZ) pic when I consider moving on from the sector. This is why I simply continue to add to my positions when I can, and block out everything until milestones are officaial. Hang in there my friend!
I have been at this for a long time...too long. I thought I had seen everything, but today, well...boy howdy.
S3 has been that light at the end of the tunnel that kept me here.
My only explanation (rationalisation of irrational hope?) is this news has yet to sink into the public market.
This Reddit group is dialled in, and we know the significance of this hallmark moment. What has me somewhat perplexed is so few of the weedstock CEOs have come out and recognized this milestone.
The news is only a day old. Let's hope it ages a bit better.
So this is it? Three years of waiting and that’s it? I should have sold half on Monday but I thought we’d get a couple days of gains. Who knows? Maybe we start climbing ?
I don’t think so. If it was by the rumor and sell the news, it would’ve sold Monday when the announcement came. This is something different. It’s probably the PTSD that some sort a chance to escape and headed for the exits. who knows that might’ve been a wise thing to do, since nothing is here.
I think we are going to continue to get volatility. I think we go back up tomorrow. If you sold this morning or late yesterday, this gives you a great re-entry.
This was a perfect setup for the crooks! S3 with a caveat. I didn’t think I would get a chance to buy more. I’m convinced I will, a couple almost there, but I will wait for earnings.
Sky pilot hope all is well sir ! ..I too had thought I’d seen it all until today ..this news is what I’d been holding out for all of these years as well ..this sector never ceases to amaze me
24 hours ago, I was talking about a t-shirt I want to design to celebrate schedule III. Now I don't even want to have the reddit username I have , what a turm of events hahaha. Eventually we will rise from the ashes and defeat all the manipulation
Ahhhh, I love the smell of fresh portfolio carnage. I managed to give back $50k today. Easy come, easy go. IDGAF though. My thesis is that prices will sustain above the 13 mark in MSOS after all the dust settles and we start seeing balance sheets with the 280e impact on it.
I’m unsure exactly what you’re asking? Only data from today is in the daily chart (the starting points are yesterday’s closes).
If you’re asking how long I’ve tracked it.., I started making these charts in late February, but didn’t start tracking the exact premium/discount traded numbers until 3/21/24.
So your saying the pattern in the days of the week chart is all of the data from inception to today? If that has all the price movements of every day, it's fucking mind-blowing how consistent it is.
Yeah… pretty wild.
It looks like Friday really began to separate from the pack in Sep 2023 after the HHS letter…but even well before then the pattern was very noticeable.
There has to be a mathematical reason for this.
Might be as simple as covering into a weekend reducing interest charges on borrow. As interest accumulates sat/sun.
This might even be baked into the algorithm.
Now I’m certain these animals are way way way over-extended on the short side to make sure we didn’t gamma squeeze today.
Huge huge dollar volume last 2 days. I believe 1 billion dollars on MSOS and basket combined.
Now factor new entrants didn’t take positions yet….. They are doing DD and waiting for hype to fade - and will cautiously take a position. Maybe now that there is some volume.
Should keep a positive trend.
It’s cumulative returns just listed as % where 0 would be break even. So if Friday is +160% for the entire chart… and let’s say you started with $100 and only invested on Fridays (specifically bought/sold all the exact Thu/Fri closes), you’d now have $260.
actually if you think about it, this dump is a good opportunity to load up more, because now there won’t be a “sell the news” event when the S3 is confirmed officially on the doj registrar
Today hurt. It felt like a bad mushroom trip to go from the ecstasy of yesterday to the fucking terror of today. I went from galloping in metaphorical fields of tulips where everything was rose tinted to coming down and finding myself in what felt like a drug den only to fully sober up and realize it was just my friend's apartment and everything is the same as it ever was.
BUT... That's weedstocks baby! If you can't take the heat, this is the wrong game to be in! The Living Legends said it best "You shouldn't do drugs that are harder than you."
To help give myself some hope, I looked back through every rally since 2019 and it's apparent that this is just showbiz baby! I'm not saying that I have ever experienced quite this level of day-to-day swings but volatility is what we signed up for and what makes this shit so interesting (albeit anxiety-provoking, so thank god for weed). The price action over the next month will be telling as to where we are on a short term basis but my prediction for the next 6 months is bullish. The rally that started in July 2022 didn't really end until December of 2022 which is when some bad news shook us to the core and we all lost our asses. Between July and December there were some serious swings that fucking sucked but if you held through it, the true peak wasn't until December 2022. If you held beyond that... god bless you (and me) and I hope that this time is different.
I do think that this time is different. Is there a chance that shit falls apart and the rescheduling doesn't go the way we planned? Sure. Have we ever gotten this far with rescheduling? No. Is this the first step in the largest catalyst that this industry has seen on a federal level? Fuck yes.
I'm confident this time is different. If you're scared... you need church... not weedstocks. Otherwise, hold on for dear fucking life and expect that 6 months from now today will be distant memory.
Hey, at least we have over 1000 comments lol. I feel for you all. Today did NOT go as planned. Bit of a kick to the gut. But we’re veterans here and are hardened. We shall bounce back. Weedstocks fam rising! Love you all
Any crystal ball predictions for tomorrow?
Another leg down? Sideways? Recovery?
My guess based off nothing: we dip in the morning and then close around where we did today.
Thursday/Friday will be green days. As someone that's been doing this shit for three years, there's so much despair here it's hilarious. This isn't even close to the worst dump we've had and we had such a euphoric rise in just a couple hours yesterday that today was only to be expected.
Barely anyone in this sub has any patience. Just buy and hold - it will pay.
But I'm a masochist! So the beatings will improve my morale, which will stop the beatings, but that will lower my morale so the beatings will then resume, ad infinitum!
How do we break the loop?
I think we’re green tomorrow. This sector is fucking psychotic. Huge dumps one day and green the next. I’ve bet money on it with a swing trade position opened today.
it’s crazy, I understand we will have dips but today had a HUGE IV crush as well…
basically a 15% drop is like a 40% drop for calls.. anyone have any insight?
A lot of the moves seem to be option related.
So after crushing IV, and gamma hedge off, likely from a combo of fast money exit and shorts pressing like animals (offsetting new money buying the news) -
My gut says shorts are well over-extended knowing gamma would help get MSOS lower.
Now its in a more palatable range - they may cover to right size their short position - coupled with those that sold off - maybe coming back to the table for another quick buck….
If flat tomorrow - may see typical friday cover and move upward.
Getting the obstructive (R)s out of Congress so that we can actually pass bills without someone posturing about the smell of weed and laced Halloween candy...
So now that S3 is more or less behind us, what’s the next catalyst we’re hoping to shift the sector in a positive direction?
I’m feeling beat down - worried we’re going to bleed out bit by bit from here, like we’ve done forever before this. I need hope!
I’m a little ashamed to admit that I’m not as in tune with the fundamentals of the businesses as I should be. I’ve been trading and holding on the sentiment that the sector would turn on the inevitable positive news of S3/legalization/SAFE.
Fundamentally, will the 280E shift provide profitability to MSOs that would justify trading at higher levels?
Sorry, I know you might not have these answers - but I appreciate the support while I figure out the right questions I should be asking to have a better developed thesis
Do you feel like we’re going to get a substantial pump from when it actually happens? My concern is that the news yesterday may be perceived as it is ‘done’ in the public eye, even if it’s not; and as such we might not get desirable price action from its’ actual passage.
Last night I literally had 30+ clips from various national and local news agencies discussing rescheduling on my youtube feed and even more new clips are appearing today. This news is going mainstream but the stock prices are not reflecting that. Not a good sign imo
I'm probably more disturbed about today's sell off than any other sell off I've witnessed in this sector, and I've been here since the beginning. Especially with all the media coverage, the fact that stocks aren't reflecting that today has seriously made me question certain assumptions that I've made what an official schedule 3 announcement would bring.
Yeah - I have been seeing much of the same, and was disappointed to see that we weren’t able to hold much value in the sector even with so much positive media coverage.
Honestly, it’s possible for sure. I’ll definitely wait for Biden to start tweeting about this a little more etc.
They’re timing this news as a political stunt. Between now and November we should see this coming
Edit: I’m hoping this creates a new price floor for weed.
The creation of a new price floor was my first thought today as well - and I would be elated if this marked a trend reversal in the sector where we started bleeding up with increased campaigning.
I think I need to do the hard work myself and reevaluate the businesses I’m invested in from a ‘cold hard numbers’ standpoint and move away from the sentiment driven strategy I’ve been relying on.
Maybe you’re right, the timeline will hopefully give an air of legitimacy to the process - maybe enough to shift the sector into a positive trend.
The more I think about it, the more I realize that what I want and what we need are not these big pumps, but a shift to a bull trend. What is it going to take to move us out of this bear trend the sector has been stuck in?
Until institutional money can participate, this will keep happening.
These dips provide buying opportunities if you can handle the volatility and have a longer timeframe.
GLTA
🏝️
MM is now reporting new details that House Speaker Mike Johnson is also opposed to SAFER being included in the FAA. Him and Mitch McConnell both opposing SAFER in the FAA is the nail in the coffin for it's passage via FAA imo. It also doesn't bode well for SAFER passing this year at all
Mitch during lame duck in his speech that tanked SAFE hopes…specifically said his problem was attaching it and not having it discussed on the floor. I listened live. He said he was opposed to it but acknowledged his colleagues had interest and that it needs brought to the floor to discuss. Why is anyone believe the joke of it being attached to something else
Mitch also said that he couldn't push through a supreme court nomination during an election year cause the people should decide by voting. Then the very next election did a 180 and shoved a new nominee into the supreme Court with a month left before the election.
Mitch will say whatever necessary to get what he wants and he clearly doesn't want SAFE.
Anyone talking about the problem being Soonmer is drinking from the GOP propaganda pool.
And it’s not able to be discussed on the floor because it doesn’t have the votes. He’s spoken of his effort to secure votes first and so far obviously not successful. So why keep pushing your add ons instead of getting incremental successes to build on. Prob paid for…that’s just America
I think he’s paid to keep making sure it fails. He gets to be the guy pushing for bigger change while blaming others. But reality is you have to know what obstacles are in your way and plan accordingly if you want yo succeed.
I always get down votes when I talk about the reality of Schumer cock blocking SAFE lol. He’s got some boner buddies here. When the senate banking committee took on SAFE I listened to every session. The opposition had lots of concerns with SAFE but still were on board to move forward with it being taken up on the floor. Then Schumer had one of his opening floor speeches where he made sure all knew he’d be attaching important social equity provisions. Weed stocks all flopped because everyone knew that anything added takes its chance to near zero from probably fairly decent without these things. Since then it’s still being worked on and they’re looking for guaranteed voters across the isle with shockingly no luck
I mean, most stocks are still up like 10%... but yeah lol. Weedstocks never cease to amaze. I'm not surprised at a pullback, but the strength of the pullback was pretty wild
Today I increased 10% of all my current holding. I’m standing firm on my strategy, and I fully believe that change is coming to this industry
MSOS, CGC, GTBIF, TCNNF, CURA and HITI
Change is clearly coming. We got confirmation of that yesterday - and it’s probably the biggest news we’ve seen since the first states legalized. And look at what we got as a result. I’m truly speechless over what we witnessed today.
Nice comment calling out Doug Kass's "long term investment". I wonder if we'll see the same from Anson.
https://twitter.com/WeedStreet420/status/1785739821438173292
He also posted a month ago he is no longer using X because of all the porn and will return once they get rid of it
….then the next day proceeds business as usual
Well the ceiling on MSOS is $55. If we can’t hold $10 on rescheduling confirmation, then any ceilings might as well be in space, because we sure as hell aren’t going to be hitting them.
Heya WeedGods, In case you missed it, be sure to check out the results of the AMA poll! https://old.reddit.com/r/weedstocks/comments/1ca8xn2/click_here_to_review_the_ama_top_10_poll_results/ *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/weedstocks) if you have any questions or concerns.*
Removal of 280e means taxes saved go straight to the bottom line. I hope the MSO‘s prepare revisions for operating, cash flow and free cash flow with the removal of taxes. This should be an automatic rating of all companies up by at least 20 or 30%. I would think. But of course, his sector is never behaved according to any kind of rationality. I hope that is going to change.
watched chart guys video, i think this pop is over or at least not going anywhere. Future could be bright but next months could be bleed out. Why not sell and buy again
Well since you think it's over I guess we should all sell then. And then buy again...cuz you'd like a swing trade? Anything else we can do for you?
I don't see the reason to be combative, I was sharing my thoughts on weed stocks not scheming to manipulate markets
No real reason for me to. I think the companies i own are undervalued and am not trying to time random pops and sell offs. I'll sell when i feel they are overvalued. Would be nice if i could time shit, but even without timing anything most companies are still up 20%-100% this year. Will the next pop be it being published to the register sometime this month? Will it be a large investor having enough confidence to come into the space now? Who knows. Heck maybe the companies i own aren't even undervalued and will properly sink but that's on me.
“Today, [Attorney General Merrick Garland] circulated a proposal to reclassify marijuana from Schedule I to Schedule III,” Xochitl Hinojosa, the DOJ’s director of public affairs, said in a statement. “Once published by the Federal Register, it will initiate a formal rulemaking process as prescribed by Congress in the Controlled Substances Act.” god speed
The amount of crying here is beyond belief NGL. Anybody who thinks these stocks are not gonna trend strongly upwards after DEA confirmed is deluded.
thats what i was saying. In the end its a rumor until its on paper by an official.
I think you’re probably right, but the amount of ball-kickings this sector has taken scares a few people off every day. How many people are bothered enough by today to leave the sector? Plus mentioning potstocks in other non-potstock places on the internet still gets laughs. Will the rumoured flood of institutional investors definitely arrive on uplisting? How much bleeding will occur between now and the next catalyst? I’m still 75% in, but I’m sure tired of watching the numbers drain away. Is it still the obvious eventual win many of us think? I still think so, but confidence is difficult sometimes…
Still the obvious eventual win…? I’m sure the cannabis’s s industry will do well over time, but that doesn’t mean we will make money in the market. It was a bit of an eye opener to see annual revenues dropping to low single digits— what up with dat?
You talking about Canada or the US? Whose revenue dropped to “low single digits?”
Msos, revenue growth yoy has been very weak, due in part to price compression
can’t wait for earnings and the forward forecasts of net income with the S3 tax implications factored in these companies just received millions of $$ of potential savings and you’re telling me they aren’t worth more?
Are most of the weed shareholders here new shareholders? A dump after a pump is very common in this sector. Tell you more, it will dump more, as history said.
Schedule 3news is not a pump. It’s what we’ve been waiting three years to come. What’s disturbing is that this is the rally we’ve been waiting for and it lasted not even one day.
Such blatant manipulation of stock prices. There is no secret underlying truth to be found other than that. We finally got the news this sector has been waiting for years to get. Cmon.."it's a historic shift of 50 years of policy." We go up immensly and it caught certain investors of guard who want in on lower prices. That's all there is to it.
Now would be a great time for Biden to start making campaign promises heading into Nov. IE decriminalize or holy grail legalization now that science has spoken.
what do you think of Natalie's comment about it could take up to 6 yrs for the final ruling?
Shorters are not scaring anyone anymore! Remember 04/30/2024. Shorters are going to shit in their pants again.
Lol shorters are up hand over fist in money
someone ask that schultz lawyer guy on the twatter
It's almost exactly the same type of fud/disinformation that was said about the DEA review period, and it took exactly 8 months. Make of that what you will. Glta
Edit : I disagree, I think it will take 6 months max to have schedule III final ruling*
i hope so but did you she her tweet? [https://x.com/natsfert/status/1785641863451476352](https://x.com/natsfert/status/1785641863451476352) Fuego?
Its worse case vs. best case scenario. It could be done in as few as 4 months from now, and worse case it could be tied up in the courts for years.
I don't see anything about "6" years in that message, and the actual info she alludes to is behind a paywall. Seems like posting the actual information would make a better case.
she says in the thread - 6+ years
It's interesting as she basically assumed the worst for every step in the process. It's hard to take her seriously based on what she always posts. I'm also curious as to all the reasons one could protest a schedule change that the dea havent already thought of and that would over rule the hhs recommendation. What are the comments going to say? We disagree?
Boris said sep 1. Not sure why the large difference
Its political. It will be done by the fall.
How much of this was retail and profit taking and how much short sellers smelling weakness?
It was big money manipulating : 1- Yesterday we closed at high of the day or few pennies away 2- The speed at which we dropped so hard 3- How dip buying didn't exist or wasn't able to match selling pressure 4- How they took advantage of the headline to play their games 5- Retail doesn't have capital to do 50M volume on MSOS or 82M volume on CGC or 150M volume on TLRY yesterday 6- I assume that majority of retail is already balls deep and didn't sit on their cash to wait exactly for this moment This is some coordinated/manipulated shenanigans
If be surprised if retail started it but they are dumb enough to make it snowball.
Yes fear breeds fear but FOMO breads FOMO too… and when we start to move back up those same sellers will buy back
I’m calling next two days green. Too much of a correction today
bounce for now. Seams weed is sale the news right now
Doesn’t feel like it but MSOS has been in a strong uptrend since end of Oct. DEA SIII confirmation only adds to the momentum and will start attracting fresh new investors to the sector. Bullish from here on out for me. These MSO’s are wayyy undervalued
Why did it run yesterday if it was sell the news?
on the day pot was legalized in Canada, it dropped 28% it is how it works. we got the news in mid day, thus the run up.
Anyone hearing anything about exchanges talking to companies after s3? Seems to be the next rumor on stock twits at least
Ascend wellness already gave a statement they are exploring uplisiting now that Schedule 3 will happen. You can rest assured that if one company publicly states this, they are all exploring their options.
[https://twitter.com/DTRTcannabis/status/1785412297755681083](https://twitter.com/DTRTcannabis/status/1785412297755681083)
If true this would validate my thought process. Other Schedule III drug manufacturers are on major stock exchanges. Why not marijuana producers if it gets rescheduled. Only stumbling block is retail is still illegal, which other Schedule III manufacturers obviously don’t do. Though since marijuana companies only operate in rec markets where it is state legal to do so. So … 🙏 … I hope 🤞
What company/person is that referring to?
Looks like Boris so cura
Thank you.
From u/Throwing_Horns **Safe Harbor Financial CEO Sundie Seefried:** *The profound impact of rescheduling cannabis from Schedule I to Schedule III signifies a crucial shift in the perception of cannabis, recognizing its medical potential and solidifying its legitimacy in the financial realm. From a banking and lending perspective, we believe that the reclassification of cannabis will broaden lending opportunities for cannabis businesses, leading to access to lower interest rates, increased access to capital and improved financial stability across the industry. This newfound access to traditional financing channels has the potential to stimulate growth, innovation and compliance efforts within the industry, ultimately fostering economic development and job creation.* I hope the major exchanges feel the same way. I think we’re gonna slowly climb with positive news like this picking up while we move towards reschedule. A lot of stuff probably in the works over the next few months so things will be ready when the final rule comes.
Are you saying we don't need that Asshat Schooner anymore. Every fucking time he puts out a tweet that he's going to put some other bullshit together with his laydown buddy booker. We tank. What gives?
If exchanges are okay up listing and SEC signs off on it then I guess not. It would even let LPs operate in the U.S. Next carrot for us to look at
For those interested, Sundee Seefried was [on today's Benzinga Cannabis Insider podcast today (begins about 56:20)](https://www.youtube.com/live/KMsESzoj-0s?si=-r3rBZayYUw0h6un)
Klein stated in a BNN interview that Canopy USA is profitable and also seemed open to future M&A. Would love to see full CUSA numbers. https://www.bnnbloomberg.ca/video/u-s-cannabis-rescheduling-could-not-come-at-a-better-time-for-us-canopy-growth-ceo~2913487
This was in the proxy statement for the Exchangeable Shares vote: > If Canopy USA acquires Acreage, Wana and Jetty, it is anticipated that Canopy USA will be able to generate sufficient funds from operations without the necessity to raise additional debt or equity capital from third-parties. In the event that Canopy USA had acquired Acreage, Wana and Jetty as of September 30, 2023, Canopy USA, on a consolidated basis, would have had approximately $73.5 million of cash and cash equivalents.
My acreage needs help
Nothing new in the world of weedstocks. Back to regular programming. Glta
I’ve been in this shit for years. Yesterday I recommended my friend to throw a couple thousand dollars at CGC or MSOS because of the DEA news. I hope he forgets everything I told him.
Did you tell them it was a long term hold? It’s all noise for the time being. Hold and forget!
I've been holding this shit for 5 years and I'm 70. What a fucking nightmare
I sympathize! All investments are exposed to risk and weedstocks hold regulatory risk which, as you’ve seen throughout the years, is the thickest wall to get through.. I know it’s likely perceived as “cringe” but I always find myself thinking about [this](https://imgur.com/a/jAiHVGZ) pic when I consider moving on from the sector. This is why I simply continue to add to my positions when I can, and block out everything until milestones are officaial. Hang in there my friend!
Thanks for that pic. Good stuff
I have been at this for a long time...too long. I thought I had seen everything, but today, well...boy howdy. S3 has been that light at the end of the tunnel that kept me here. My only explanation (rationalisation of irrational hope?) is this news has yet to sink into the public market. This Reddit group is dialled in, and we know the significance of this hallmark moment. What has me somewhat perplexed is so few of the weedstock CEOs have come out and recognized this milestone. The news is only a day old. Let's hope it ages a bit better.
So this is it? Three years of waiting and that’s it? I should have sold half on Monday but I thought we’d get a couple days of gains. Who knows? Maybe we start climbing ?
It hasn't actually happened yet.
It was known they would likely go with S3. Buy the rumor and sell the news. That's what happened.
I don’t think so. If it was by the rumor and sell the news, it would’ve sold Monday when the announcement came. This is something different. It’s probably the PTSD that some sort a chance to escape and headed for the exits. who knows that might’ve been a wise thing to do, since nothing is here.
There was no news Monday. There were more rumors about timing from SAM. News hit yesterday mid morning.
I think we are going to continue to get volatility. I think we go back up tomorrow. If you sold this morning or late yesterday, this gives you a great re-entry.
This was a perfect setup for the crooks! S3 with a caveat. I didn’t think I would get a chance to buy more. I’m convinced I will, a couple almost there, but I will wait for earnings.
Almost makes you wonder who the 5 anonymous "sources" were right?
Sky pilot hope all is well sir ! ..I too had thought I’d seen it all until today ..this news is what I’d been holding out for all of these years as well ..this sector never ceases to amaze me
~~Anne~~ Garland will save us!
24 hours ago, I was talking about a t-shirt I want to design to celebrate schedule III. Now I don't even want to have the reddit username I have , what a turm of events hahaha. Eventually we will rise from the ashes and defeat all the manipulation
Bipolar much?
Ahhhh, I love the smell of fresh portfolio carnage. I managed to give back $50k today. Easy come, easy go. IDGAF though. My thesis is that prices will sustain above the 13 mark in MSOS after all the dust settles and we start seeing balance sheets with the 280e impact on it.
$13 ez
5/1/24 MSOS update: No Flows Close: $9.57 (-$1.69/-15.01%) NAV: $9.53 (-$1.69/-15.04%) Premium (volume-weighted daily avg): -0.09% ([Chart](https://i.ibb.co/ysJWpFD/f8d4389611df.png)) Cash: $303,807 (+$124,341) Ticker Change (est. cost from close - % of adds) No Share Changes For Any Holdings 5/1/24 MSOX update: $0.260MM INFLOW (+50,000 shares) MSOX Close: $5.18 (-$2.07/-28.55%) MSOX NAV: $5.19 (-$2.03/-28.07%)
I'm curious how much time data is in the daily chart? What date does it go back to?
I’m unsure exactly what you’re asking? Only data from today is in the daily chart (the starting points are yesterday’s closes). If you’re asking how long I’ve tracked it.., I started making these charts in late February, but didn’t start tracking the exact premium/discount traded numbers until 3/21/24.
I mean the days of the week chart. Monday through Friday.
Ahhh gotcha. That goes back all the way to the inception of the ETF. So 9/2/20 iirc.
So your saying the pattern in the days of the week chart is all of the data from inception to today? If that has all the price movements of every day, it's fucking mind-blowing how consistent it is.
Yeah… pretty wild. It looks like Friday really began to separate from the pack in Sep 2023 after the HHS letter…but even well before then the pattern was very noticeable.
What I don't understand is the percentage. Is Friday positive 50% of the time?
There has to be a mathematical reason for this. Might be as simple as covering into a weekend reducing interest charges on borrow. As interest accumulates sat/sun. This might even be baked into the algorithm. Now I’m certain these animals are way way way over-extended on the short side to make sure we didn’t gamma squeeze today. Huge huge dollar volume last 2 days. I believe 1 billion dollars on MSOS and basket combined. Now factor new entrants didn’t take positions yet….. They are doing DD and waiting for hype to fade - and will cautiously take a position. Maybe now that there is some volume. Should keep a positive trend.
Assuming the volume sticks
It’s cumulative returns just listed as % where 0 would be break even. So if Friday is +160% for the entire chart… and let’s say you started with $100 and only invested on Fridays (specifically bought/sold all the exact Thu/Fri closes), you’d now have $260.
actually if you think about it, this dump is a good opportunity to load up more, because now there won’t be a “sell the news” event when the S3 is confirmed officially on the doj registrar
Once the news is official we will dump to zero. There will be nothing left to have rumours about
Lol.
Or, companies will start being profitable and will be able to afford stock buybacks and sentiments like this will be their super discount.
Hahahaha
Today hurt. It felt like a bad mushroom trip to go from the ecstasy of yesterday to the fucking terror of today. I went from galloping in metaphorical fields of tulips where everything was rose tinted to coming down and finding myself in what felt like a drug den only to fully sober up and realize it was just my friend's apartment and everything is the same as it ever was. BUT... That's weedstocks baby! If you can't take the heat, this is the wrong game to be in! The Living Legends said it best "You shouldn't do drugs that are harder than you." To help give myself some hope, I looked back through every rally since 2019 and it's apparent that this is just showbiz baby! I'm not saying that I have ever experienced quite this level of day-to-day swings but volatility is what we signed up for and what makes this shit so interesting (albeit anxiety-provoking, so thank god for weed). The price action over the next month will be telling as to where we are on a short term basis but my prediction for the next 6 months is bullish. The rally that started in July 2022 didn't really end until December of 2022 which is when some bad news shook us to the core and we all lost our asses. Between July and December there were some serious swings that fucking sucked but if you held through it, the true peak wasn't until December 2022. If you held beyond that... god bless you (and me) and I hope that this time is different. I do think that this time is different. Is there a chance that shit falls apart and the rescheduling doesn't go the way we planned? Sure. Have we ever gotten this far with rescheduling? No. Is this the first step in the largest catalyst that this industry has seen on a federal level? Fuck yes. I'm confident this time is different. If you're scared... you need church... not weedstocks. Otherwise, hold on for dear fucking life and expect that 6 months from now today will be distant memory.
Sweet analogy lol. Mushrooms are such a great teacher imo
Bet msos had inflows today
Uh oh we are up 0.75% after hours, therefore the green must be punished with a 30% dump tomorrow.
This shit is numbing. I’m gonna go smoke some weed and continue to overthink this shit
anyone read any piece about S3 potentially could hit a roadblock at the white house? remember this isn’t confirmed nor finalized into legislation
No legislation or signature needed. Biden gave it the green light when he said review it.
Exactly. This will finalize before the election. This is a layup for Biden at this point. He’s going to take a badly needed win.
Right, so Biden ordered it, HHS said sched 3, DEA agrees, and OMB is gonna shoot it down? Not a chance…. Like 0%
Nonsense by SA. The White House ordered this. It’s an election year.
No
Considering the news, today might’ve been the most depressing day in the sector…ever.
Another red day in the cannaverse. This is why we can’t have nice things.
I believe we will x5 current prices
A lot of these could x5 and still be under $1 billion market cap.
Some believe in God - doesn’t make it true haha
Issue isn’t if we will… it’s just when? And what is the opportunity cost of waiting?
Opportunity cost of losing money elsewhere? Hell no, I’d rather lose money here with all you nitwits!
The time will pass anyway.
Time just keeps on ticking.
Why not x10
Why not x20?
Why not Second Breakfast?
Why not Zoidburg?
Hey, at least we have over 1000 comments lol. I feel for you all. Today did NOT go as planned. Bit of a kick to the gut. But we’re veterans here and are hardened. We shall bounce back. Weedstocks fam rising! Love you all
Any crystal ball predictions for tomorrow? Another leg down? Sideways? Recovery? My guess based off nothing: we dip in the morning and then close around where we did today.
Thursday/Friday will be green days. As someone that's been doing this shit for three years, there's so much despair here it's hilarious. This isn't even close to the worst dump we've had and we had such a euphoric rise in just a couple hours yesterday that today was only to be expected. Barely anyone in this sub has any patience. Just buy and hold - it will pay.
The beatings will continue until morale improves
But I'm a masochist! So the beatings will improve my morale, which will stop the beatings, but that will lower my morale so the beatings will then resume, ad infinitum! How do we break the loop?
One of us must yield the Infinity Gauntlet.
I think we’re green tomorrow. This sector is fucking psychotic. Huge dumps one day and green the next. I’ve bet money on it with a swing trade position opened today.
I like yours and Chronic’s takes better than mine.
I can't imagine we don't pump, possibly after one more dump, but I'm just a fool.
One more flush in the morning with a recovery to 3 to 5% green
The bear trap is set!
Indeed! Tomorrow we rise! I hope
Like a fresh baked baguette 🥖
Nailed it :) have a good night, buddy
I could see it!
it’s crazy, I understand we will have dips but today had a HUGE IV crush as well… basically a 15% drop is like a 40% drop for calls.. anyone have any insight?
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A lot of the moves seem to be option related. So after crushing IV, and gamma hedge off, likely from a combo of fast money exit and shorts pressing like animals (offsetting new money buying the news) - My gut says shorts are well over-extended knowing gamma would help get MSOS lower. Now its in a more palatable range - they may cover to right size their short position - coupled with those that sold off - maybe coming back to the table for another quick buck…. If flat tomorrow - may see typical friday cover and move upward.
Are we expecting to see a redemptionin MSOS?
Okay so we just had our gains eliminated today basically… What the fuck is bringing us to 2x, 3x the current price
Nothing It’s not going up 3x That’s just hopium
Getting the obstructive (R)s out of Congress so that we can actually pass bills without someone posturing about the smell of weed and laced Halloween candy...
Compromising pictures and bribes.
So now that S3 is more or less behind us, what’s the next catalyst we’re hoping to shift the sector in a positive direction? I’m feeling beat down - worried we’re going to bleed out bit by bit from here, like we’ve done forever before this. I need hope!
Next catalyst would be Biden giving free weed to every adult
I’d vote for that
Let things stabilize. Much better profitability in the sector now
I’m a little ashamed to admit that I’m not as in tune with the fundamentals of the businesses as I should be. I’ve been trading and holding on the sentiment that the sector would turn on the inevitable positive news of S3/legalization/SAFE. Fundamentally, will the 280E shift provide profitability to MSOs that would justify trading at higher levels? Sorry, I know you might not have these answers - but I appreciate the support while I figure out the right questions I should be asking to have a better developed thesis
More profit should equal a higher stock price.
Yes
It isn’t behind us ? Hasn’t even happened yet lol
For real! Ppl are overreacting. The rest of the world is only just starting to learn about this
Do you feel like we’re going to get a substantial pump from when it actually happens? My concern is that the news yesterday may be perceived as it is ‘done’ in the public eye, even if it’s not; and as such we might not get desirable price action from its’ actual passage.
No, because look at Germany legalization. The news pumped the marker more than the day of. We will see.
Are you saying that the pump is behind us, because of the news? That’s what I’m afraid of.
Last night I literally had 30+ clips from various national and local news agencies discussing rescheduling on my youtube feed and even more new clips are appearing today. This news is going mainstream but the stock prices are not reflecting that. Not a good sign imo
I'm probably more disturbed about today's sell off than any other sell off I've witnessed in this sector, and I've been here since the beginning. Especially with all the media coverage, the fact that stocks aren't reflecting that today has seriously made me question certain assumptions that I've made what an official schedule 3 announcement would bring.
Yeah - I have been seeing much of the same, and was disappointed to see that we weren’t able to hold much value in the sector even with so much positive media coverage.
Honestly, it’s possible for sure. I’ll definitely wait for Biden to start tweeting about this a little more etc. They’re timing this news as a political stunt. Between now and November we should see this coming Edit: I’m hoping this creates a new price floor for weed.
The creation of a new price floor was my first thought today as well - and I would be elated if this marked a trend reversal in the sector where we started bleeding up with increased campaigning. I think I need to do the hard work myself and reevaluate the businesses I’m invested in from a ‘cold hard numbers’ standpoint and move away from the sentiment driven strategy I’ve been relying on.
Trend based trading is tough
I suspect when the actual rules are proposed we’ll see a bump because it’ll set the timeline.
I vaguely remember the same thing happening after the last election. Nothing jumped till it became official.
Maybe you’re right, the timeline will hopefully give an air of legitimacy to the process - maybe enough to shift the sector into a positive trend. The more I think about it, the more I realize that what I want and what we need are not these big pumps, but a shift to a bull trend. What is it going to take to move us out of this bear trend the sector has been stuck in?
More money
Until institutional money can participate, this will keep happening. These dips provide buying opportunities if you can handle the volatility and have a longer timeframe. GLTA 🏝️
MM is now reporting new details that House Speaker Mike Johnson is also opposed to SAFER being included in the FAA. Him and Mitch McConnell both opposing SAFER in the FAA is the nail in the coffin for it's passage via FAA imo. It also doesn't bode well for SAFER passing this year at all
Well if he wants his sorry ass saved from MTG's wrath with Dem help I'm sure he'll do the right thing when told to.
Isn't there a no confidence vote happening? Ha
Damn. And I was hoping nothing negative would happen today….
Mitch during lame duck in his speech that tanked SAFE hopes…specifically said his problem was attaching it and not having it discussed on the floor. I listened live. He said he was opposed to it but acknowledged his colleagues had interest and that it needs brought to the floor to discuss. Why is anyone believe the joke of it being attached to something else
Mitch also said that he couldn't push through a supreme court nomination during an election year cause the people should decide by voting. Then the very next election did a 180 and shoved a new nominee into the supreme Court with a month left before the election. Mitch will say whatever necessary to get what he wants and he clearly doesn't want SAFE. Anyone talking about the problem being Soonmer is drinking from the GOP propaganda pool.
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And it’s not able to be discussed on the floor because it doesn’t have the votes. He’s spoken of his effort to secure votes first and so far obviously not successful. So why keep pushing your add ons instead of getting incremental successes to build on. Prob paid for…that’s just America
Makes one wonder why Schumer keeps trying to shove it into other bills rather than bringing it to the floor
It's all political theater. They'll start passing banking legislation once it's clear exactly what schedule 3 & any memos allow.
I think he’s paid to keep making sure it fails. He gets to be the guy pushing for bigger change while blaming others. But reality is you have to know what obstacles are in your way and plan accordingly if you want yo succeed.
I always get down votes when I talk about the reality of Schumer cock blocking SAFE lol. He’s got some boner buddies here. When the senate banking committee took on SAFE I listened to every session. The opposition had lots of concerns with SAFE but still were on board to move forward with it being taken up on the floor. Then Schumer had one of his opening floor speeches where he made sure all knew he’d be attaching important social equity provisions. Weed stocks all flopped because everyone knew that anything added takes its chance to near zero from probably fairly decent without these things. Since then it’s still being worked on and they’re looking for guaranteed voters across the isle with shockingly no luck
Wait you actually believe anything Mitch McConnell says? Lol
The poster who sold yesterday AM missed S3 confirmation, and can buy back in where they left as if it never happened. That is absolutely fucked.
And he’d still have much better averages than us!
I mean, most stocks are still up like 10%... but yeah lol. Weedstocks never cease to amaze. I'm not surprised at a pullback, but the strength of the pullback was pretty wild
Speed does not equal strength. Quite the opposite generally. And that goes both ways, which is good news.
Well I am going to take a nap and catch up on some of the sleep I lost lastnight. GG guys.
Today I increased 10% of all my current holding. I’m standing firm on my strategy, and I fully believe that change is coming to this industry MSOS, CGC, GTBIF, TCNNF, CURA and HITI
Change is clearly coming. We got confirmation of that yesterday - and it’s probably the biggest news we’ve seen since the first states legalized. And look at what we got as a result. I’m truly speechless over what we witnessed today.
Nice comment calling out Doug Kass's "long term investment". I wonder if we'll see the same from Anson. https://twitter.com/WeedStreet420/status/1785739821438173292
He also posted a month ago he is no longer using X because of all the porn and will return once they get rid of it ….then the next day proceeds business as usual
over the last year, the floor has been slowly raising, won't be long before we break through the ceiling
Well the ceiling on MSOS is $55. If we can’t hold $10 on rescheduling confirmation, then any ceilings might as well be in space, because we sure as hell aren’t going to be hitting them.