Cannabis Market Update – Heat Map Improving from Red to Green
June 6, 2024
Cannabis Market Update
Heat Map Improving from Red to Green
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There is something unusual in the Air at California’s Cannabis Companies
O P T I M I S M
PORTFOLIO VALUE INCREASES BY 53%
Now, there seems to be light at the end of the tunnel. After the steep declines from January 2022, stock prices and market caps began to increase again beginning September 2023. As of June 1, 2024, values in our monitored portfolio increased by 53% compared to June 2023.
RESCHEDULING IMMINENT?
If cannabis is rescheduled under the federal Controlled Substances Act, legal marijuana businesses in California will see a reduction in federal tax burdens. Currently, licensed cannabis businesses are locked out of many traditional banking services. Rescheduling will increase financial transparency and will allow these businesses to deduct ordinary expenses such as payroll and rent from their federal corporate income taxes. The move to a less restrictive schedule will grant cannabis businesses greater access to financial services, potentially attracting new investment and further increase share prices.
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