Twilio Dumps Cannabis Industry, Messaging API Platform Says Weed Companies Violate Fed Law
Portfolio Pulse from Maureen Meehan
Twilio (NYSE:TWLO), a major communications-service provider, is banning cannabis companies from using its software, citing violation of federal law. The company's policy prohibits marijuana, CBD, and accessory-products companies from using its SMS or MMS text messaging in the U.S. or Canada. This follows a similar move by Mastercard (NYSE:MA) in July, which banned marijuana transactions on its debit cards. There are concerns that Visa (NYSE:V) may also follow suit.
August 23, 2023 | 10:13 pm
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Mastercard's previous decision to ban marijuana transactions on its debit cards could potentially impact its revenue, especially if these transactions represent a significant portion of its total transactions.
Mastercard's decision to ban marijuana transactions on its debit cards could lead to a loss of revenue if these transactions represent a significant portion of its total transactions. This could potentially lead to a decrease in its stock price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Twilio's decision to ban cannabis companies from using its software could potentially impact its revenue, especially if these companies represent a significant portion of its customer base.
Twilio's decision to ban cannabis companies from using its software could lead to a loss of revenue if these companies represent a significant portion of its customer base. This could potentially lead to a decrease in its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Concerns that Visa may follow Mastercard and Twilio in banning transactions or services related to the cannabis industry could create uncertainty among investors.
If Visa decides to follow Mastercard and Twilio in banning transactions or services related to the cannabis industry, it could potentially lead to a loss of revenue and a decrease in its stock price. The uncertainty surrounding this potential decision could also negatively impact its stock price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50