• The KillerFrogs

OT: HB447 Texas Legalization

Are you for or against cannabis legalization in Texas?

  • Yes

    Votes: 76 85.4%
  • No

    Votes: 13 14.6%

  • Total voters
    89

FrogAbroad

Full Member
Marijuana stocks delivered another day of spectacular gains, with the ETFMG Alternative Harvest ETF (MJ) of cannabis-related companies surging 13.3%, bringing its year-to-date gains to 101.2%. While much of 2021's gains can be chalked up to enthusiasm for the Biden administration's seemingly friendly eye toward marijuana, Tuesday's excitement was tethered to something more concrete: the earnings calendar. Producer Canopy Growth (CGC, +11.9%) reported yet another large quarterly net loss, but a better-than-expected 33% jump in revenues, and it's predicting it will turn a profit in 2022.
 

The TCU Football Jerk

Active Member
I sold a large refrigerated factory in rural western OK about 5 years ago and thought we'd have a very difficult time drawing bidders in that the business had shut and relocated to southeast Asia years before. In no time, a consortium consisting of a former Lt. Governor, a retired Astronaut and some former state reps/senators. Soon after, medical marijuana was legalized and I was told my old dinosaur property was made into a grow center. The local folk for the most part were glad to have a good sized employer who paid decent wages. Really, the big losers in this are the black market dealers.

The problem with legalization is like most things government. It gets incredibly over regulated. Adds more laws to the books, creates yet another layer of bureaucracy. The onerous testing, licensing and other fees drive out the small producers and make it so its only viable to big corporations.
 

82 Frog Fever

Active Member
Recreational was legalized in IL. a little over a year ago.
Surprisingly, it has been almost problem free. Even more conservative communities are applying for dispensaries, so they can get some of the tax revenues.
Ironically the taxes are so high, (Approx 35%) that many people are buying bootleg cartridges for about 1/4 the price of the state carts. I bought two .5G carts (92% THC) yesterday for $59 each, but with tax the total was $160. I can buy the same bootleg carts for $25 each and they’re almost as good.
Happy trails.
 
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