Another key reason is the “poor return on earnings” in the first quarter of this year. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people achieve financial freedom through our website, podcasts, books, newspaper columns, radio programs and premium investment services. Motley Fool issues a rare “All In Buy” alert You're reading a free article with opinions that may differ from The Motley Fool's premium investment services. Become a Motley Fool member today for instant access to our top analyst recommendations, in-depth research, investment resources and more.
Learn more In part, this massive sell-off is just a function of stock markets generally falling today, but it turns out that marijuana stocks may have a problem of their own. As I'm sure you already know, there is a movement under way in Congress to legalize marijuana nationwide. Things haven't been quite right: President Joe Biden, for example, seems to continue to oppose the idea. But overall, even conservative legislators in Congress proper seem to largely agree with the idea of legalizing marijuana in one way or another.
As Marijuana Moment reported yesterday, the 156-member House Republican Studies Committee (that is, about 35% of Congress) has just published a report blaming the legalization of marijuana at the state level for the explosion in marijuana use between. The CSR recommends that, whatever happens with the legalization of marijuana in general, the production and sale of marijuana edibles in the form of candy or beverages be prohibited if there are reasonable grounds to believe that they will be sold to minors. Similarly, the industry site reports that approximately a quarter of U.S. members.
UU. The Senate supports the passage of a bill to protect children from drugs flavored with. The logical effect of such a measure would be to weaken the gross profit margins of large marijuana companies such as Canopy, Aurora and Tilray. And this means that, even if marijuana in general is legalized at the federal level, if Congress maintains the ban on the sale of groceries, this could hinder or delay the profitability of marijuana companies.
In short, and at the risk of mixing some metaphors, the very moment marijuana investors begin to see a light at the end of the legalization tunnel, Congress could snatch defeat from the clutches of victory and ensure that marijuana remains an unprofitable business for the foreseeable future. It's no surprise that marijuana investors are feeling discouraged today. Rich Smith does not hold any position in any of the stocks mentioned above. The Motley Fool does not hold a position in any of the above stocks.
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Making the world smarter, happier and richer. October 6 (Reuters) - US Stocks. Drug policy, which pardons all previous federal offenses of simple possession of marijuana. US,.
The ETFMG Alternative Harvest (MJ, P) ETF, which includes shares of several cannabis companies, rose nearly 20%. Biden said he was asking federal officials to begin a process of reviewing how marijuana is programmed, or classified, under federal law. It currently ranks in the same classification as heroin and LSD and in a higher ranking than fentanyl and methamphetamine, he said. South Korean company SK Hynix Inc warned Wednesday of an unprecedented deterioration in demand for memory chips, deepening fears of a global recession, and said it would reduce investment after quarterly earnings fell by 60%.
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Explore an unparalleled portfolio of historical and real-time market data and information from sources and experts around the world. Search for people and entities with the highest risk around the world to help discover the risks hidden in business relationships and human networks. He is leaving the cannabis retail business with two deals to sell his Tweed and Tokyo Smoke stores. ET, both Canopy Growth (CGC 27.07%) and Aurora Cannabis (ACB 19.23%) are down around 5.5%, while Tilray Brands (TLRY 13.29%) suffered a smaller loss of 3.5%.
Cannabis retailer Superette has received judicial protection from creditors under the Business Creditor Settlements Act. In the first, heady days of the legalization of cannabis, owning a licensed marijuana store was considered an easy way to earn money. The federal government released a long-awaited review on Thursday on how the legalization of marijuana has affected the health of Canadians, the domestic cannabis industry and the black market. BNN Bloomberg determines the price of cannabis companies on the stock chart above by determining the total dollar value of all shares traded during the previous three-month period.
Some of British Columbia's cannabis stores say they are closing their doors and laying off staff after a labor dispute in the public sector prevented the province's marijuana distribution center from shipping products since the beginning of last week. . .
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