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Regulatory

GHBWF

GLASF

Kyle Kazan, CEO of Glass House Brands Inc., emphasized the need to end imprisonment for cannabis and advocated for federal legalization at the Benzinga Cannabis Capital Conference. He highlighted the company's success in California, reporting an 89% surge in annual revenue to $160.8 million and the introduction of a new value cannabis brand, Allswell, aimed at competing with the illicit market. Despite challenges like high taxes and a thriving traditional market, Glass House plans to continue its expansion in California.

Portfolio Pulse from Jelena Martinovic

April 16, 2024 | 4:32 pm

UBER

Uber Technologies Inc. was involved in a tax probe in Portugal, focusing on the company's delivery partners. Authorities conducted a raid as part of the investigation into potential tax violations.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 4:30 pm

MSOS

YOLO

Emily Paxhia, Founding Partner & Managing Partner at Poseidon Investment Management, discussed the challenges of M&A deals in California at Benzinga's Cannabis Capital Conference. Access to the conference is available for existing subscribers and new users can gain instant access.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 4:08 pm

MSOS

YOLO

Florida is on the verge of legalizing recreational marijuana, with a vote set for November on Amendment 3, which would legalize adult non-medical use starting May 2025. Executives from AYR Wellness, Verano Holdings, and The Cannabist Company discussed the potential market boom at the Benzinga Cannabis Capital Conference, highlighting Florida's significant medical market and the expected sales increase. Verano Holdings is preparing by expanding its presence, while The Cannabist Company is gearing up for regulatory changes. AdvisorShares' CIO Dan Ahrens, managing MSOS and YOLO ETFs, is positioning investments in anticipation of regulatory momentum in Florida.

Portfolio Pulse from Adam Eckert

April 16, 2024 | 3:52 pm

MSOS

SPY

At Benzinga's Cannabis Capital Conference, former Congressman and Holland & Knight partner, Hon. Ed Perlmutter, mentioned that the DEA is expected to assist with tax issue 280E, with a decision anticipated this week or soon.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 3:33 pm

MSFT

NVDA

QQQ

SPY

TLT

TSLA

The article discusses the significant drop in 20+ year Treasury bond ETF (TLT) despite geopolitical tensions, which typically drive up U.S. Treasuries. It highlights the unusual market behavior where Treasuries fall, indicating lower stock valuations, contrary to expectations during the Iran-Israel conflict. The IMF warns the U.S. about excessive spending, while global growth forecasts increase slightly. U.S. housing starts and building permits have slowed, and China's GDP growth shows underlying weakness. Money flows are positive for NVIDIA and Microsoft, neutral for Amazon, Apple, Alphabet, and Meta, negative for Tesla, and mixed for SPDR S&P 500 ETF Trust and Invesco QQQ Trust. The article also notes the selling of gold and oil by the momo crowd, with smart money inactive, and mentions Bitcoin's trading activity around a halving event.

Portfolio Pulse from The Arora Report

April 16, 2024 | 3:30 pm

MSOS

Senator Cory Gardner emphasized the importance of understanding voter positions and engaging in political progress, highlighting the impact of coalitions on political attention, especially during the political season. The context was provided at Benzinga's Cannabis Capital Conference, suggesting a focus on the cannabis industry.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 3:09 pm

MSOS

Hon. Ed Perlmutter discussed the challenges of progressing cannabis banking reforms through the Senate Banking Committee, highlighting the political and campaigning aspects involved.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 3:05 pm

MSOS

Lauren Niehaus discusses the current state of cannabis legalization, emphasizing the importance of a consistent message among organizations lobbying on the issue. The commentary suggests that legalization is not imminent, but the alignment among lobbying groups could play a crucial role in future developments.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 3:04 pm

CRLBF

MSOS

John Sullivan emphasized the importance of passing full-cannabis legalization as a significant legislative move. Sen. Schumer plans to submit the Cannabis Administration and Opportunity Act (CAOA) again this year, highlighting cannabis's societal benefits. Despite the President's reluctance towards cannabis, he has directed the HHS, FDA, and DEA to review cannabis-related policies, indicating momentum towards legalization.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 3:03 pm