U.S. cannabis companies may be starting to wonder if they will ever catch a break in Washington.$1.65 trillion omnibus spending bill
The bill also might have eventually made it easier to move their stock market listings from Canada to more liquid exchanges in the U.S. As the drug is still illegal at the federal level, major banks and stock markets avoid dealing with U.S.-based cannabis companies, severely limiting their access to capital.
Raising equity at today’s share prices seems unappealing, too. The MSOS AdvisorShares Pure U.S. Cannabis ETF, which tracks major U.S. marijuana stocks, many of them listed in Canada, is down 73% this year. “Issuance of equity for U.S. plant-touching businesses has come to a virtual halt,” according to Frank Colombo, director of data analytics at Viridian. American cannabis companies issued equity worth less than $80 million this year, compared with around $2 billion for 2021.
just not buying the right congressman
If we keep this up we shouldn't be suprised in years to come when we start watering our plants with Gatorade!
To have states legalize pot and those companies not be able to operate as a legal company (not be able to deduct operating expenses) is insane. Just push the button. Biden is a douche. Pot growers should be legal.