WeedWeek edition / February 12, 2021
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1 WILD WEEK FOR POT STOCKS

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A volatile five days for Tilray stock (Source: Google)

Pot stocks including Tilray, Sundial and Aphria had a wild week as they caught the attention of investors on Reddit's WallStreetBets. It's the same forum that recently sent GameStop's stock to stratospheric heights. (Paywall)
Barron's

  • After skyrocketing early in the week, several stocks plummeted more than 20% on Thursday. (Paywall) 
    Business Insider
  • Before the catching the attention of social media day traders, industry stocks had been having a good year as federal legalization becomes more plausible. Barron's weighed in on how to play the market with options. (Paywall)
  • After a brutal 2019, three hedge funds with significant cannabis exposure saw "eye-popping" returns in 2020. (Paywall)
    Business Insider 

2 INDUSTRY, ACTIVISTS JOSTLE OVER FEDERAL REC BILL

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Getty Images

A consensus is emerging that equity measures to atone for the war on drugs should be included in the cannabis legalization efforts under consideration in Congress. However, as social justice advocates and industry jostle for position, it remains unclear what kind of bill can win the likely 60 votes necessary to pass the evenly split U.S. Senate.  
WeedWeek

  • Social justice activists want a bill that follows the rough contours of the progressive MORE Act, which passed the House of Representatives in December.
  • A new group called the U.S. Cannabis Council (USCC), which has several large MSOs as members, is also calling for equity, but it hasn't disclosed its priorities for what the bill should say. 
  • Variables in the forthcoming bill could be worth billions to some of the big pot companies which have joined the USCC.

Read all about it.

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Don't get too excited. Despite the current momentum, federal legalization faces "stiff challenges."
MJBiz

Quick Hit

  1. An executive at Terrapin Care Station argues red states will shape cannabis policy.
    WeedWeek

3 “PROJECT MONGOOSE” HUNTS CANNABIZ “SNAKES”

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Photo by Anna Liflyand https://commons.wikimedia.org/w/index.php?title=User:Anna_Liflyand&action=edit&redlink=1

There’s every reason to believe that a federally illegal industry with nearly endless money on the table, is going to attract some unscrupulous characters.

  • In recent weeks, Marines veteran Brett Puffenbarger has attracted attention on LinkedIn for Project Mongoose, a social media campaign under the hashtag #grassattractssnakes to root out bad actors in the space. (Mongooses eat snakes.)  
    WeedWeek
  • Since Project Mongoose launched in early January, Puffenbarger says it has collected 400 stories from people who felt they’ve been maltreated and used. The plan is to publish them alongside expert commentary. 

Read the whole thing.

4 IN THE NEWS — 2/13/21

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@shopmedmen Instagram

What's happening:

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