Is The FBI Tracking Your Cannabis Use? Cannabis Daily September 24, 2021

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Episode Summary

• The FBI has revised its employment policy to add a clause that applicants are ineligible if they've used cannabis more than 24 times after turning 18.
• A nationwide referendum in Italy to legalize cannabis will likely take place early next year.
• Switzerland has finally announced its highly anticipated three and a half year pilot scheme to implement the development of a recreational cannabis trial.
• Paraguayan company, Better Body Hemp, unveils essential hemp cosmetic line.

Public companies talked about on the show:

• MedMen OTC:MMNFF
• SOL Global Investments Corp OTC:SOLCF
• Trulieve Cannabis Corp OTC: TCNNF

Hosted & Produced By:

Elliot Lane

Aaron Thomas

Contact us at: [e-mail]

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Unedited Transcript:

Y'all it's Friday. What's up. This is Elliot lane with Benzinga here, hosting cannabis daily. I hope you all have had a wonderful week and made a ton of money trading cannabis stocks, and obviously paying attention to the news on benzinga.com/cannabis. Shout out to Javier and the editorial team. They're big.

Thanks to Aaron Thomas. Who's going to join us a little bit later with some cultural news, but let's go ahead and dive in to the industry. Uh, topics as it were no new news in three Chet chatted on the national defense act and safe being included. Since yesterday, people are very, very bullish on the fact that it's in the NDA.

Um, I think right now, Cory Booker, Chuck Schumer, few of the others are not crazy about the order of bills. This presents. They do not want safe facts to come before any type of social equity, criminal justice bill. Uh, they want to benefit the people before they benefit. Uh, corporations is really the thought process there and or they want the win.

However you want to look at. I don't have a lot of hope right now for this, but that being said, I do hope it gets through, uh, I'm just sparing my heart, the pain, um, cookies launches, a new product, combining non psychedelic mushrooms and THC. We all know cookies, the leading brand in the industry, uh, by burner.

For me, this product is a play for any type of psychedelic movement that can make globally in the future. I think it just sets them up for an entry. I don't really think this is that, you know, that mind boggling others have done this before. Like neon. So we'll see, uh, this performs in the cannabis audience, uh, as they, they probably hope it does.

Um, but mushrooms are an interesting selling point, I guess, next up Ben men releases Q4 highlights their ticker in M in F F up 55% year over year for Q4 with revenues up to 42 million up 18 and a half percent quarter over quarter. Their net loss decreased significantly year over year. From 526 and a half million in twenty twenty two, a hundred and fifty seven and a half million in 2021.

Significant decrease. Obviously med men was once the Juul of the industry, uh, the darling of cannabis, definitely not anymore, but, uh, it is good to see them make, uh, strides in the right direction. Uh, their management team had a lot. Of walls that were presented to them that I think they have overcome steadily, uh, and with very interesting.

Um, you know, basically, uh, getting assets off to red, white, and bloom, uh, getting assets off to others and focusing in on what they can do very well. So madman, I I'm a little bullish on in terms of trending up, not necessarily a stock pick, but, but I do think they are trending in the right direction and could see some more growth by the end of.

S O L C F that's. So global repurchasing up to $30 million in shares, pricing them between $4 and 5 cents to $4 25 cents. So global is an investment, private equity holding company in the cannabis sector been around for a while. And they recently had bloom medicinals, I believe, which they sold that asset to.

TC NNF one of our favorites truly leave is now incorporated in Mississippi, just waiting on that licensing structure to be released in the medical field. Uh, so y'all, I hope you are having a wonderful day so far, so let's turn it over to my good friend and producer Aaron Thomas. Who's going to bring us some more news, uh, on the cultural side of things, Aaron.

Yeah. What's up Elliot. How's it going? Zinger, nation. Hope you guys are having a fantastic Friday. Like I am, uh, Elliot. I hope you know, the weather in New York is much better. It's disgusting. It's awful. We'll get some sun next week. I think. Hopefully you brightened my day. How about that? Oh, I will. The east coast has been taken a hit, but let's uh, let's brighten your day here.

All right. Getting into it. The us house of representatives passed a defense budget bill Thursday evening income. That includes landmark ledge legislation to make it easier for banks to serve marijuana. I think this is going to be a huge, you know, you're going to see a lot more marijuana businesses pop up and it's going to be great for the community and economies.

Um, well, just as a quick aside, what did that Todd Harrison say? It's a spark in the dark it's light at the end of the tunnel. And I do hope it gets past as I mentioned earlier, but, um, you know, we'll, we'll see if Democrats can, uh, you know, just step aside from. Yep. More over in some, a U S news. The FBI has revised its employment policy to add a stipulation that applicants are in eligible.

If they've used cannabis more than 24 times after turning 18. This one kind of threw me for a loop. I was just like, what, how, how are you, how do you know, how are you ever going to know amount of times that someone's used cannabis antibodies that stay in your system? Ope, I see 24 antibodies from cannabis.

They've used it 24 times. Exactly. It's the FBI. I'm sure they have some kind of, you know, technology that, you know, we obviously don't know about. So there's that for us here and a little bit on let's let's get on, let's move into some international news. Italy may soon jump on the weed bandwagon, a nationwide referendum to legalize cannabis will likely take place early next year.

If Italian voters embrace dope, it will spark a domino effect across Europe. Did you just say embrace dope? Yeah.

All right, man. Well, you know what? That would be really good for companies like Cura leaf for companies like. Um, you know, take a look for those that are in the portrait ghoul and Spanish markets, as that creates a more, uh, direct pathway into the leading market in Europe, which is Germany. Uh, so that, that would be very interesting for, I think you're exactly right.

The domino effect, there would be a huge for a lot of the leaders globally. Totally. And I'm moving on to more Euro news. Switzerland has finally announced its highly anticipated three and a half year pilot scheme to implement the development of a recreational cannabis trial. You know, I think that that'll be important for that area.

I know Germany is not huge into the cannabis market, but they are getting. Uh, and this will definitely, you know, like it, like the Italy news, this definitely sparked that domino effect across your well, no market yet is huge in the cannabis we'll say in Europe, but that, you know, think of how many people are there in that continent.

I think it's somewhere around 750 million roundabouts. Um, that's a big, that's a big market. So companies want to position themselves across multiple countries. The UK, Italy, Spain, Portugal, Germany, Switzerland, um, you know, uh, Eastern Europe, so they can come into Germany easily. Uh, but you know, it'll be interesting to see how these, if the countries all have a similar distribution, cross border sales approach, you know, import export laws, you know, it's, it's gonna be a lot of jurisdictional conversation.

Uh, it's a long way from over, but it it's, it's interesting. To see all these markets, uh, kind of take steps toward cannabis legal. Yes, totally. Um, and then my last bit of news, you know, we just did the U S we did Italy. We did Switzerland. Let's let's let's give some, let am news. Yeah. Paraguayan company, better body hemp, uh, an unveil.

Essential hemp cosmetic line becoming the first company in the country and Latin America to use the non-psychoactive properties of cannabis to combine them with current technology to create natural products high in protein, rich and vitamin E and omega three, six, and nine. Very cool. Yeah, super cool.

You know, they're, uh, they're moving into more products. They're, you know, expanding the product lines and, you know, the applications of cannabis. So I definitely see, you know, a lot of economic benefits from this, uh, you know, expansion of, uh, cannabis products. Well, and I would personally say, keep an eye on that company to be an acquisition, to.

Um, flora growth just entered that market, but you know, if others want to like a Kyron life sciences or a clever leaves or a pharmacy yellow or an Africana. You know, companies that are establishing themselves in young markets, um, are interesting acquisition targets and M and a targets for larger regional and or global companies like the ones I just listed.

So, uh, that could be very interesting and I'm not sure that they're public. Um, but you know, maybe we can come back with that news next. But great updates, dude, a lot of global news there. And that was, uh, it's interesting. You know, I think the us is, you know, we take steps ourselves and then we take two steps back.

So let's hope that this is a giant step forward with the NDA as you. And I mentioned today, uh, and you know, hope for the best there because Lord knows this industry, uh, needs. It needs it just for the simple safety of those working in it so that there are less robberies and less cash on hand. Uh, it's ridiculous that these, these industries in legal state markets cannot bank their money.

Um, outside of that, Aaron, it's been a fun week. It's been an eventful week. Um, and I'm looking forward to doing this again Monday, my friend. I hope you have a fantastic. I will Elliot thank you for having me as always and shout out to zinger nation. Thank you for tuning in daily to cannabis daily Elliott is the man.

No Aaron, where the men love you. Dudes denomination. You guys have a great weekend. We'll see you Monday. See everyone.

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