MariMed Stages The 'Boston 280E THC Party' In Protest Of 'An Unfair Tax That Burdens The Cannabis Industry'
Portfolio Pulse from Vuk Zdinjak
MariMed (OTCQX:MRMD) (CSE:MRMD) staged a protest against Section 280E of the Internal Revenue Service Code, which they claim unfairly burdens the cannabis industry with higher taxes. The protest involved a reenactment of the Boston Tea Party, with executives and team members throwing cargo chests labeled 'WEED' overboard from a boat in Boston Harbor. MariMed's stance on 280E is supported by a growing number of U.S. Congressmen and women.
July 13, 2023 | 12:55 pm
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NEUTRAL IMPACT
MariMed's protest against Section 280E could potentially raise awareness about the tax burdens faced by the cannabis industry, potentially leading to regulatory changes that could benefit the company.
MariMed's protest is directly aimed at changing a tax regulation that they claim is negatively impacting their business. If successful, this could lead to reduced tax burdens for the company, potentially improving their profitability. However, the impact of this protest on the company's stock price in the short term is uncertain, as it will depend on the response from regulators and the market's perception of the likelihood of regulatory change.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100