Bjones2
4 days ago
Bloomberg Marijuana Stocks Gain Momentum on Cannabis Reform Hopes
US Edition
Markets
By Carmen Reinicke
April 19, 2024 at 12:00 PM EDT
Updated on April 19, 2024 at 4:20 PM EDT
Marijuana Stocks Gain Momentum on Cannabis Reform Hopes
Two cannabis funds have beat the S&P 500 in last six months
Investors see major upside for the industry with policy change
Bloomberg
By Carmen Reinicke
April 19, 2024 at 12:00 PM EDT
Updated on April 19, 2024 at 4:20 PM EDT
Investors have been diving into cheap pot stocks in hopes that a change in US policy will unlock major upside for cannabis companies.
A look at funds and stocks following the marijuana industry ahead of the unofficial marijuana holiday of April 20, popularly known a
Bjones2
6 days ago
Schumer And Other Democrats Amplify Calls For Marijuana Reform Ahead Of 4/20
Which Congressman Says Should Be Celebrated ‘Every Day’
Published on April 17, 2024By Kyle Jaeger
Democratic senators, including Senate Majority Leader Chuck Schumer (D-NY), are “trying to recruit Republicans” to join them in the push for federal marijuana legalization, Senate Finance Committee Chairman Ron Wyden (D-OR) said at an event ahead of 4/20, which another lawmaker said is a holiday that should be celebrated “every day” this year as advocates work to get reform “across the finish line.”
At a press briefing organized by the Last Prisoner Project (LPP) on Wednesday, multiple congressional champions of cannabis legalization marked progress in the fight to end prohibition.
As Schumer, Wyden and Sen. Cory Booker (D-NJ) prepare to file a bill to federally legalize marijuana later this month, Wyden said the trio are “out right now trying to recruit Republicans to join in.”
Teen Marijuana Use Has Declined In Washington Since Legalization
“I want you to hear what my message is. I’m gonna say one word: Deschedule,” he said. “Descheduling ought to be a Republican dream… Sometimes I think they’re only for states’ rights if they think the state is right.”
Schumer, meanwhile, applauded advocates and discussed his work on legalization and cannabis banking reform in a pre-recorded video that was shared with Marijuana Moment ahead of a National Cannabis Policy Summit on Wednesday.
“My commitment to ending federal prohibition on cannabis remains as strong as ever,” he said. “As many of you know, cannabis reform is an issue I’ve cared about, and I’ve been working hard on, for years. And as many of you know, momentum is now in our favor.”
“Here in Congress, we’re making some good progress,” he said, pointing to the Senate Banking Committee passage of the Secure and Fair Enforcement Regulation (SAFER) Banking Act last September. Schumer also reiterated his interest in attaching a measure to incentivize state-level cannabis expungements to the legislation when it’s brought to the floor.
The majority leader also talked about his forthcoming Cannabis Administration and Opportunity Act (CAOA) to legalize marijuana.
“Cannabis legalization has proven successful at the state level. It’s high time that Congress catches up with the rest of the country,” Schumer said. “Of course, we know none of this is easy, especially in divided government. We need all of you to continue reaching out to members, especially Republican members, so we can make cannabis reform a reality.”
Back at the LPP event, Congressional Cannabis Caucus founding co-chair Rep. Earl Blumenauer (D-OR) touted his 51 years of work to reform state and federal marijuana laws. He also said it’s “appropriate” that advocates and lawmakers are celebrating 4/20 three days early because, “this year, we ought to be celebrating 4/20 every day.”
“Forces are aligned to be able to end this failed war on drugs and mobilize unprecedented support across the country,” he said. “And, frankly, the Biden administration has been doing a little realignment, which I welcome. But it’s time to not just realign but get it done.”
“President Biden, if I was interested in mobilizing young people—if I was interested in energizing them—this is a no-brainer,” Blumenauer said.