You're receiving this email because you're subscribed to Cannabis Daily from Benzinga. To manage your subscription, click the link at the bottom of this email.

Happy Wednesday everyone! We hope you had a relaxing Labor Day weekend. Nicolás Rodríguez and Patricio Liddle here, ready to jump back in with this week’s must-know cannabis news to keep you in the loop.

Trump Endorses Legal Weed And Florida Republicans Aren’t Happy

In a not very surprising twist, Donald Trump endorsed Florida’s cannabis legalization initiative on the Lex Fridman podcast. He praised medical marijuana and supported a regulated recreational program, though he made it clear he wasn’t a fan of New York’s "marijuana-y" aroma. 

Meanwhile, Florida Republicans are fuming. Governor Ron DeSantis hasn’t commented on Trump’s weed endorsement, but his GOP pals aren’t holding back. With Amendment 3 gaining traction, Republican leaders warn of chaos if it passes, arguing public marijuana consumption will spiral out of control. DeSantis’ team is already gearing up for a fight against the growing support.

PRESENTED BY CANNABIS CAPITAL CONFERENCE

Cannabis And Big Business: Tilray And BAT Play Big

Tilray Brands (NASDAQ: TLRY) is expanding its craft beer empire with the acquisition of three breweries, becoming the 5th largest U.S. craft brewer. Meanwhile, British American Tobacco (NYSE: BTI) invested $30.8 million in Organigram Holdings (NASDAQ: OGI), fueling its international cannabis expansion. With these bold moves, both companies are shaking up the cannabis and beverage industries.

Today’s chart

Viridian's chart of the week highlights the sharp drop in cannabis equity prices as of August 2024, following the DEA's announcement of a delayed rescheduling hearing. With potential 280E tax savings at risk and fears of a Trump rollback, MSOs have seen a significant downturn. Despite this, S3 rescheduling still holds long-term promise.

Viridian's  chart of the week highlights the sharp drop in cannabis equity prices as of August 2024, following the DEA's announcement of a delayed rescheduling hearing. With potential 280E tax savings at risk and fears of a Trump rollback, MSOs have seen a significant downturn. Despite this, S3 rescheduling still holds long-term promise.

Stories In The Spotlight:

• Oregon Recriminalizes Drugs: Critics Warn Of Widening Public Health Gaps Amid The Measure's Rollback

• Stalled In Bureaucratic Limbo, This German City Struggles With Illegal Cannabis As Demand Surges

Our Writers Today

Nicolás holds a B.A. in International Relations, an M.A. in International Affairs, and an M.Phil in Public Policy. He is a doctoral student in Public and Urban Policy at The New School in New York City. After working for the United Nations in 2014, Nico pivoted his research to studying the relationship between the cannabis industry and economic development.

Patricio is a development economist with extensive experience in IT, finance, and banking. He writes about the economic and social opportunities obscured by over fifty years of drug prohibition. Beyond his professional expertise, Patricio is a committed advocate for social change, passionately working to promote harm reduction and reform drug policies.

PRESENTED BY CANNABIS CAPITAL CONFERENCE

BEFORE YOU GO

Were you forwarded this email? Click here to subscribe.

And be sure to check out our other newsletters:

Ring The Bell: Created for market enthusiasts by market enthusiasts, this twice-daily newsletter delivers top stories, fast movers, and hot trade ideas straight to your inbox. Subscribe here.

Future Finance: Where fintech, crypto, and the future of finance collide. Future Finance is a perfect lunch read packed with quick bites for industry enthusiasts. Subscribe here.

Real Estate Weekly: Where we highlight the movers and the losers, the upgrades and the downgrades, the top stories and opportunities in the trillion dollar REIT and real asset industry. Subscribe here.

Mining Weekly: Get an insider's edge with news, analysis, and commentary on what’s shaping the mining and commodities industry that powers the global economy. Subscribe here.

Advisor: Tailor-made for Financial Advisors, this weekly newsletter has industry-specific insights, analysis, and news. Subscribe here.