SAFE is Off The Table; The Cannabis Stock With The Strongest Brand Name - $MSOS $CRLBF $GTBIF $CURLF
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Stocks to watch: $MSOS $CRLBF $GTBIF $CURLF
Hosted & Produced By: Elliot Lane
Sign up to the cannabis newsletter here https://www.benzinga.com/cannabis/newsletter
Stocks to watch: $MSOS $CRLBF $GTBIF $CURLF
Hosted & Produced By: Elliot Lane
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NewsTranscript
00:00 Good morning, good morning, good morning.
00:04 Happy Friday.
00:05 What is up my friends?
00:06 Apologies for missing yesterday.
00:08 We had a Lane family ER moment.
00:11 Uh, was not going to be able to do the podcast, but we are back rocking and rolling in action,
00:17 ready for a great, great day into the weekend and really in the month.
00:21 Push here is really starting today, y'all.
00:23 So let's do it right.
00:24 Elliot Lane Benzing is cannabis daily.
00:26 Tons of, uh, good stuff today.
00:28 We'll start on the federal side in DC safe will not happen.
00:33 Uh, pre the summer recess, Senator Sherrod Brown said safe will not happen next week.
00:38 This is per Don Murphy.
00:40 Um, recently on Twitter, also per Politico really in an article last week.
00:45 Um, this is what we originally thought to, to be frank, timeline was going to be for
00:50 the Senate at large.
00:51 We didn't think the Senate at large was going to address safe until after the summer recess
00:55 when this first all came to light.
00:57 However, we did think the Senate banking committee would have a vote on it prior to this summer
01:02 recess.
01:03 So that is disappointing, uh, in its own right.
01:05 Uh, hopefully right after summer recess, we can see, um, a little bit of movement.
01:10 Otherwise it, I think it's going to be a rough month and a half here for cannabis stocks.
01:15 So keep an eye on MSOS.
01:16 Um, no financial advice here.
01:19 Uh, but that would be my first indicator to see how people are reacting to just the delay
01:25 again of safe congressional, a new congressional committee schedules, a hearing to pressure
01:31 the FDA for federal regulation to ensure equal and safe access to hemp derived CBD products.
01:39 Absolutely necessary.
01:40 However, I don't think a hearing is going to pressure the FDA enough.
01:44 The FDA needs Congress to move.
01:46 Congress wants the FDA to do it without them.
01:48 Uh, all in all, they don't have the research qualifying this.
01:52 This is what companies like bright green BGXX on the NASDAQ are for.
01:56 Uh, so hopefully we do see more research and progress from those companies.
02:00 Uh, but that said, I think this hearing is probably going to be a waste of time between
02:05 you and me.
02:06 Good morning, Sean, Alan Nichols.
02:07 Thank you so much for tuning in as always, my brother.
02:09 Appreciate you.
02:10 Good blend.
02:11 A Pennsylvania medical marijuana company owned by parallel is closing up shop in the state.
02:17 Uh, unfortunate here.
02:18 They are laying off, I think 76 employees, uh, but parallel still operates in Texas at,
02:25 I think as well as Pennsylvania, Ohio, and a few other, uh, states as well.
02:29 Shout out to a good friend of benzing, a John Piro, a really, really capable can cannabis
02:35 attorney.
02:36 It used to be with Zuber Lawler.
02:37 It used to be with a New York centric cannabis firm and or leading their cannabis practice.
02:42 And now he has a green spoon martyr, a well traveled attorney.
02:46 We love John here.
02:47 Uh, if you're looking for a good attorney, this is not financial advice, so I can say
02:50 John is a great, great guy.
02:52 Uh, look him up.
02:53 All right.
02:54 Last but not least here, we have a really interesting note per stifle, uh, about headset
02:58 launching its data program into the Illinois market and some very interesting results here.
03:05 Cresco labs is the winner when it comes to brand power in the state of Illinois.
03:10 GTI is a close runner up as it is exceeding in the vape category, exceeding in the value
03:15 brand category and making a nice push in the pre-roll pre-roll category.
03:20 Cureleaf is the loser here with less than 5% market share.
03:24 This is per stifles note, not my opinion.
03:27 Uh, so that is unfortunate there for Cureleaf biggest growth opportunity for companies in
03:31 this market as well as really the market sales at large is pre-rolls.
03:36 No surprise there.
03:37 The ec, the economics of pre-rolls have been, um, admired of late and covered a lot of late.
03:43 So pre-rolls are what these companies should be focusing on ideally for the next few months
03:47 and getting that, uh, up and rolling.
03:50 Uh, sin wellness, AAWH on the OTC is third and Verano VRNOF is fifth.
03:57 With that said, y'all really appreciate you tuning in.
04:00 Um, if I'm looking at stocks to watch today, I'm probably just focused on MSOS.
04:04 Oh, Cureleaf as well.
04:06 Uh, and several as good morning, Gaspar.
04:08 Thank you so much for tuning in my friend.
04:10 Um, thank you all again for tuning in.
04:12 We will be back on Monday with all the rest of our news.
04:15 Until then y'all have a great weekend.
04:16 [inaudible]