Happy Monday, Cannabin-vestors! A new drug testing method can confirm recent cannabis use with a whopping 96% accuracy. Good thing most companies don’t care if you partake anymore. I’m guessing even chugging a case of Gatorade can’t help you now.

Plus, 30 weed predictions for 2024. Leafly got two-thirds of its predictions right in 2023. Is its crystal ball crystal clear again this year?

And, check out the newest episode of Cannabis Insider, also available on Apple and Spotify.*

Puff Pass: Did someone forward you this email? Click here to get automatically subscribed.

TOP STORY

Decoding Stock Values, Tax Implications, and the Perfect Timing for Cannabis Investors

Briefly: Rescheduling marijuana from Schedule I to Schedule III could possibly fuel stock rallies.

So Basically: The possible reclassification of marijuana and its profound effects on the cannabis stock market is the central theme of an in-depth equity research report by Pablo Zuanic senior analyst of Zuanic & Associates.

So Then: Regarding cannabis rescheduling, the big question is “Will the DEA accept the 'conventional wisdom' narrative, and just say 'Yes move it to III, and leave everything else to the states'?"

So What? The report advises investors to consider not only growth potential but also profitability and debt leverage when evaluating cannabis stocks.

What Next: If the DOJ implies it will release the framework before the election, it could be bullish for stocks. Read more here.

JOIN US IN CALIFORNIA

Join The Benzinga Cannabis Market Spotlight

This premier event, focused on high-impact networking, offers a chance to connect and create lasting business relationships.

Engage with top industry figures in structured sessions and casual mixers, turning each interaction into a potential business breakthrough.

It’s more than networking: it’s where the future of cannabis in California (and beyond) is shaped. Be part of the defining conversation.

Click here to join us!

FIVE ZINGERS

Ayahuasca is Miley Cyrus' 'favorite' drug because it supported her veganism

Cannabis edible businesses are venturing into the vape market: A puff of possibilities for the budding industry

Surfing World Champion Advocates Cannabis, Believes "It Doesn't Define Work Ethic"

CBD-Focused Avicanna taps into European market via exclusive pharma supply deal

Method Man On The Weed Biz: 'The American Dream… From Getting Locked Up To Being A Proprietor'

ONE FOR THE ROAD

NBA Legend Isiah Thomas Brushes Off 'Regulatory and Political Hurdles' in Pursuit of Green Business Glory

Briefly: NBA icon Isiah Thomas is dribbling past Colombia's regulatory and political challenges in the cannabis arena.

Who: Isiah Thomas of Detroit Pistons fame is also the chairman and CEO of One World Products, a hemp and cannabis producer with offices in Las Vegas and operations in Colombia.

What: Thomas said on Monday that the lack of cannabis regulatory changes is not affecting the company's operations and business prospects.

So What? Despite regulatory uncertainty, Thomas noted that the strategic partnership with Kx Family Care, a CBD personal care product line created by Stephen Marley, son of Bob Marley, was progressing positively.

What Next: A possible re-vote in the next six months could put the legalization of recreational cannabis back on track. Read more here.

KEEP READING

Before you go, be sure to subscribe to our other newsletters:

Ring The Bell: If you have to pick just one daily financial newsletter, it’s not a choice. Subscribe here.

The Street Sheet: A Wall Street cheat sheet, delivered every Sunday directly to your inbox. One-click subscribe here.

Future Finance: TradFi is tired. Wake up to the future of finance with this midday fintech and crypto letter. Subscribe here.

Benzinga Real Estate: End your week with a reality check for your real estate assets. One click-subscribe here.

The Flag: Top takes from Washington to Wall Street impacting policy and your portfolio. One-click subscribe here.