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- Cannabis Stocks Are 'Walking Dead,' Says Doug Kass, THC Pouches Target $30B Market, US Athlete Faces Execution In Indonesia
Cannabis Stocks Are 'Walking Dead,' Says Doug Kass, THC Pouches Target $30B Market, US Athlete Faces Execution In Indonesia
Plus, the latest in cannabis news.
Hey, Benzinga Cannabis Community and Happy Friday! Maureen Meehan here to welcome you back to Cannabis Daily, your no-BS, truth-telling, joint-rolling daily rundown of what’s popping in weed, wellness, and the war on logic.
Today we’re talking “walking dead” cannabis stocks (yikes), a potential $30 billion THC pouch market (yes, really), and some serious political moves — from Florida mushroom bans to new federal restrictions on cannabis access.
And don’t miss the story of the American basketball player in Indonesia who’s facing a possible death penalty over cannabis candy. Nope, not kidding.
Let’s light this thing up. 🔥
In today's issue:
📉 Markets & Money
Doug Kass is out here throwing elbows. The Seabreeze Partners founder says most public cannabis companies are basically the undead, surviving only if they can refinance their ever-growing debt. And for those that can? Shareholder dilution is lurking right around the corner.
But he’s not entirely bearish. Kass is keeping his eyes on a few green survivors:
Trulieve Cannabis Corp. (OTCQX: TCNNF)
TerrAscend Corp. (OTCQX: TRSSF)
Green Thumb Industries Inc. (OTCQX: GTBIF)
Glass House Brands Inc. (OTCQX: GLASF)
As for the AdvisorShares Pure U.S. Cannabis ETF (NYSE: MSOS)? Kass slammed it for fueling volatility and enabling exits for insiders. His words: “MSOS has clearly become the tail that wags the cannabis dog.” 🐶
💰 New Markets, Big Questions
🎯 Zyn, but make it THC? That’s the play, says cannabis economist Beau Whitney. He believes THC pouches — think chew without the tobacco — could crack open a $30 billion global market. That’s as big as the entire U.S. cannabis industry in 2024, he tells Benzinga’s Javier Hasse.
But hold your horses: Whitney warns that flavor bans and regulatory red tape could trip things up. The real challenge? Getting consumers to swap their Skoal for sativa.
“In the short run, it would have to be about marketing and converting the consumer away from tobacco and into THC,” Whitney told Benzinga.
🏛️ Politics, Policy & Prohibition
Florida Gov. Ron DeSantis has signed off on a bill banning psilocybin mushroom spores, folding it into a massive 150-page agriculture bill that also bans local governments from adding fluoride to public water. Yep. That’s a thing now.
DeSantis had already signaled support for the mushroom crackdown, and now it’s law. Mycelium movement in the Sunshine State? Officially on pause.
Sen. Steve Daines (R-MT) and Rep. Darin LaHood (R-IL) are back with a familiar punchline: no weed with welfare. Their “Welfare For Needs Not Weed Act” — tucked into the new JOBS for Success Act — would block Temporary Assistance for Needy Families (TANF) recipients from using those funds at dispensaries.
This isn’t new territory for GOP lawmakers, but it signals another attempt to wall off federal support from cannabis access, even in legal states.
Rep. Summer Lee (D-PA) is making history by reintroducing the Reparations Now Resolution, and she’s calling out the war on drugs as a key driver of racial inequity in America.
“Black folks are owed more than thoughts and prayers,” said Lee. “We are owed restitution and justice to repair the government-sanctioned harm that has plagued our communities for generations.”
The resolution throws weight behind local and state efforts and aims to push federal reparatory justice forward.
🌍 International & Legal
This one is heavy. Jarred Shaw, a 34-year-old basketball player from Dallas, is facing life in prison or the death penalty in Indonesia after authorities found 132 pieces of cannabis candy in his apartment.
Shaw played ball at Oklahoma State and Utah State and was in the Indonesian league. His arrest followed a tip about a suspicious package from Thailand — where cannabis was decriminalized in late 2024.
Indonesian drug laws are severely strict. This is a developing story with massive implications for cannabis-related travel, mail, and international enforcement.
🧠 Health & Science
A new study out of Tulane University’s School of Medicine has good news for families battling treatment-resistant childhood epilepsy. Researchers found that Epidiolex, the only FDA-approved cannabis-derived drug, significantly reduces seizure frequency — with nearly half of the 208 children in the study showing at least a 25% drop in monthly seizures.
The median dropped from 30 seizures per month to just 8. And a full 21% saw more than a 50% reduction.
That’s more than medicine — that’s life-changing.
That’s a wrap for today’s Cannabis Daily, folks. Whether you’re trading the dip, tracking the feds, or just figuring out your Friday stash, you now know more than most. We’ll be back on Monday with more truth, trends, and terpenes. Have a great weekend!
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