The US Cannabis Industry, as represented by the ETF, MSOS, is quietly approaching key resistance to a base breakout
The US Cannabis industry, and in particular, the multi-state operators (MSO) are sneaking toward a key breakout point in the volatile rally that has ensued since the Trump administration put out this executive order in December:
Increasing Medical Marijuana and Cannabidiol Research
Here is the sector ETF, MSOS, contemplating a would-be breakout, as the sector looks toward a potential expansion of rescheduling from Schedule 1 to 3.
I currently hold multi-state operator GTBIF, the ETF, MSOS and CRON (not a US MSO).
I have been slowly creeping the sector, but that pace has led me to miss out on re-buying GLASF, which I sold too soon and watched continue upward. I don’t want to chase at this time.
TCNNF, which just got uplisted to NYSE, is also shooting to a breakout. These two are leading the wider sector toward a break out (still in the “would-be” category). But it is still a gamble to some degree (what in the stock market is not ultimately that?).
Expanded rescheduling is no done deal, because there will be hearings on the matter this summer. But if ‘recreational’ attains the same status as ‘medical’ (a change to Schedule 3) these base patterns should be left behind for good.
Viewing this map of legalization status, it looks like the tide has turned from grey to blue and green, with the destination overwhelmingly green in the future. And it’s far from only ‘liberal’ states that have fully legalized pot. You know, it’s a Libertarian issue as well. At the honest heart of it, you don’t get much more conservative than “Libertarian” (at least per what “conservative” used to mean, IMO).
We’ll continue tracking the progress as one of a few interesting sectors in NFTRH with current and/or future positions noted in the Portfolios segment.
Guys? What do you think?
“Hey, what is in this shit, man?”
“It’s mostly Maui Wowie, man… but it’s got some Labrador in it.”
“What’s Labrador?”
“It’s dog shit. Yeah, my dog ate my stash, man. Had it on the table and the little mother fucker ate it, man. So I had to follow him around with a little baggie for 3 days before I got it back. Really blew the dog’s mind.”
“You mean we’re smokin’ dog shit, man?”
“It gets ya high, don’t it?”
Okay, way to end a serious post… man.
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