National News - July 2021

 

Live Free with Weed New Hampshire

New Hampshire- Of all the predominantly East Coast Democratic states, the majority are freeing the weed, and if not yet, talking seriously of doing so soon. Reported at the end of May 2021 the New Hampshire House passed a bill to legalize cannabis at the end of last year, but the bill did not continue in the Senate. Currently, marijuana is decriminalized in the state, and medical marijuana is legal though it is illegal to grow. Residents of the Granite State that are 18 years or older can legally purchase CBD which contains less than 0.3 percent THC on a dry weight as per the Federal Farm Bill of 2018.

If you are traveling to the East Coast this summer, it is important to know their states laws regarding legalization as they apply to visitors as well. Rolling Stone has a great map and list of laws for each U.S. state in an article published April 22, 2021, https://www.rollingstone.com/feature/cannabis-legalization-states-map-831885/.

New York for Weed and For All

New York- New York became the 16th state to legalize weed on March 31st of this year. The law and the weed are giving back to the community from tax revenues and selection of minority and women business owners.

“New York’s law stands out from other American states in its focus on social justice.”

The law would direct part of the estimated $350 million yearly tax revenues from cannabis sales to communities most affected by drug enforcement in the United States, particularly Blacks and Latinos.

The criminal records of those convicted of illegal cannabis possession will be purged, and half of businesses licenses will be set aside for minorities, women-owned businesses, wounded ex-military personnel or farmers affected by disasters.” https://medicalxpress.com/news/2021-04-york-america-marijuana-hub.html

AU Legalization Moves on to Likely Signing

Connecticut- The Senate in Connecticut passed a recreational legalization bill 16-11 (with nine absent) on Thursday June 17th.  A modified version of the bill from the House, it drops a social equity amendment that restricted the eligibility of licensing to those with a marijuana conviction instead of those in a census tract disproportionately impacted by the war on drugs.

The move seems to have worked as following the news Governor Lamont took to Twitter in support of signing the bill.

Stock Up on Pot

U.S.- If you want to keep an eye on what is happening on a larger scale with the pot industry, according to a recent Kiplinger article, “many of the best” marijuana stocks have doubled in 2021. 10 companies that are growing in the investment world are:  

Innovative Industrial Properties (investing in greenhouse and industrial facilities for the medical cannabis industry), Altria (owns 43.5 percent of Cronos Group, a Canadian marijuana stock), Constellation Brands (also investing in Canadian marijuana), Curaleaf Holdings (a Massachusetts company that makes vapes for single dose medical marijuana), Cresco (low dose edible manufacturer) GrowGeneration (operator of hydroponic garden centers) Tilray (BC based cannabis producer), Silver Spike Acquisition II (a plant-based and alternative health industry), AdvisorShares Pure US Cannabis ETF (a US specific focus), and AdvisorShares Pure US Cannabis ETF (focusing on the global cannabis industry). The article and more information on each company can be read at: https://www.kiplinger.com/investing/stocks/stocks-to-buy/601667/best-marijuana-stocks-to-buy-for-2021.