Phone it a “Reefer Madness” instant. In a flashback to the vintage 1936 anti-drug film, cannabis buyers received spooked nowadays by news studies of health considerations amid hashish customers — and it truly is participating in havoc with marijuana shares.
In 1:55 p.m. EDT investing:
Separate content released on important news web sites around the previous pair of days included:
- Recounting tales of little ones feeding on hashish gummies and suffering overdoses (CBS)
- Citing a research linking a rising incidence of schizophrenia to “problematic use of marijuana” (CNN)
- and quoting an anti-cannabis activist contacting it a “really processed product” that’s a supply of “cannabis-induced psychosis” (Fox Information).
These negative media mentions arrive at the very same time when two competing cannabis legalization costs are producing their way by way of the U.S. Senate and House, respectively — and they appear at the same time when President Biden is contemplating whether he will (or will not) signal any legalization invoice that finally gets passing votes from Congress.
The much more strident the criticism will get, the additional very likely the president will eventually choose he will not indicator a monthly bill legalizing marijuana. And seeing as that looks to be the direction he was leaning just before these headlines, I might say that the possibilities for hashish starting to be legal at the federal level just got a entire lot even worse.
This post signifies the viewpoint of the writer, who could disagree with the “official” suggestion place of a Motley Idiot top quality advisory service. We’re motley! Questioning an investing thesis — even a person of our possess — assists us all feel critically about investing and make decisions that help us develop into smarter, happier, and richer.