Biden doesnt actually support making it legal at federal level, from what I have read he is happy for the states to do there thing as they have been. You have to remember his son is a crack junkie or was anyway.
You are absolutely right regarding the Senate, It will NOT pass if the Rep keep control, but that has a lot to do with what else is in the MORE Act, regarding people already incarcerated for weed, and overturning convictions and the like. Again as you stated we wont know until Jan after the Georgia senate race is done. But even if the Dem get the Senate, which is unlikely as they have to win both seats. Georgia has only ever been cracked by the Dems twice in the History of the U.S.A.
The other point is that CPH dont sell any products in the USA , which makes the announcement Cresno made about being "Favoured" by the house decision a little confusing to be honest.
Its misleading at best or there is something more sinister going on before the the tranche of 300 million shares and options in Cresno at 0.026c hit the board on the 23rd Dec
According to Bloomberg there are a lot of weed companies that would benefit but Cresno or any subsidiary doesnt get a mention.
"If the legislation were to become law, it could be a boon to marijuana companies, including Canopy Growth Corp., Curaleaf Holdings Inc., Green Thumb Industries Inc., Trulieve Cannabis Corp. and Cresco Labs Inc. U.S. companies would all see improved margins from a lower tax burden that would come with decriminalizing marijuana, and could more readily access debt markets and institutional investors, helping them grow faster and keep their heads above water in tough times" https://www.bloomberg.com/news/articles/2020-12-04/marijuana-legalization-bill-passes-house-senate-vote-unlikely
What would also be concerning for people who jumped in at the peak today is that.....
"Bloomberg’s index of global cannabis companies traded up almost 2 percent following the news"
only 2% !!!!
Its already a crowded market place with some companies in the US with a MC in the Billions. It Will be a tough nut to crack.
Ok now the disclaimer.....haha.
Im not down ramping, Im rapt for the people who have made a mint over the last week or two, that really is awesome !!!!!
Potential investors should be able to look at the pros and cons on here and make an informed decision themselves, that's all.
