Boris Jordan's Cannabis Insights: Rescheduling Update

Author: The Dales Report | August 02, 2024 11:03am

The TDR Three Key Takeaways on Rescheduling Talk with Boris Jordan & $CBST & $VRNOF Announcement

1. Rescheduling Comment Period: Boris Jordan believes that approximately 90% of the comments have been gone through, and so far, there does not seem to be an ALJ hearing.
2. Verano Will Pay $15 million In Cash To Acquire Some Of The Cannabist Co.’s Operations: This includes one cultivation site, one production facility, and its two retail stores in the state of Arizona. Also, they will acquire Virginia assets including one cultivation site, one production facility and six stores.
3. Promising Markets: Jesse Channon believes Virginia is setting up to potentially be one of the most advantageous adult use markets, particularly for the scaled vertically integrated operators.

Shadd Dales, Anthony Varrell, and Boris Jordan, Chairman of Curaleaf (OTC:CURLF) join up in this episode of the Trade To Black podcast. With the political arena heating up between the Dems and GOP, lines are being drawn on several key issues, and cannabis is expected to be one of them. We will be discussing the latest rescheduling developments from Washington, his take on the results from the comment period, and whether or not the rescheduling debate will have an impact on marijuana stocks in Q4.

Interested parties might request “hearings on the record” which would be overseen by a federal administrative law judge (ALJ). So far, however, the comment period appears to have gone without.  “The good news is that they have gone through 90% of the comments. And there has been in those 90% that they’ve been through, there is no ALJ hearing at this moment,” says Jordan.

It’s unknown how much longer the remaining comment period may take, but with the elections coming this fall, rescheduling is expected to be a high priority for the Harris campaign and the Democrats. We’ll examine various aspects of both parties’ campaigns heading into November and election season.

At approximately 24 minutes in to the podcast, Verano Holdings (CBOE: VRNOF) Chairman, George Archos, and The Cannabist Company Holdings (CBOE: CBST) President, Jesse Channon, join the show to discuss a deal in which Verano will be spending $105M to buy cannabis licenses in two markets from The Cannabist Co. in the states of Arizona and Virginia.

Later in the podcast, Dan Ahrens also joins us from Advisor Shares (NYSE:MSOS) for a recap of the week for cannabis stocks and insights on potential rallies.

Posted In: CURLF MSOS