The rumors were true…
The Biden administration reclassified marijuana on Thursday, marking a monumental change in US federal drug policy.
Cannabis is moving to a Schedule III category, indicating both medical benefits and some potential for abuse. It’s a big shift from Schedule I, where it was previously lumped with heroin.
President Joe Biden tweeted, “Too many lives have been upended because of our failed approach to marijuana. So today, @TheJusticeDept is taking the next step to reclassify marijuana from a Schedule I to a Schedule III drug under federal law.
The Department of Justice has started the process to change the law. This change will allow for public comments and a hearing.
This news is good, but it might not be enough to boost all pot stocks. However, one stock to watch is Canopy Growth (CGC).
My Hot Money system picked up a lot of activity in CGC. There were 193,000 calls traded, which is three times the usual amount. Most of these options expire tomorrow, May 17, 2024. There is also some buying in next week's calls.
CGC is a hard-to-borrow stock, but it’s only a 1-day cover, so don’t expect a huge jump. These are better for intra-day trading and not something to hold for long.
If you like this kind of action and want to follow the money, then joining my Hot Money Trader is your best bet. I provide 2-3 of these trades a week, giving you regular chances to act.
If you’re interested, reply to this email with "Hot Money," and I’ll send you the order form.
Good trading, and remember—rent's due.
Josh Belanger
All politicians are lying Cock Suckers! No matter what party. Cannabis, Just about the worst thing for your lungs other than cigarettes! Weed make you STUPID. It makes out kids STUPID! Weed the way it was in 1969 at 5%, good stuff. Well ok. But now at 35%?? Just makes you stupid. When you go in the first time you buy 15%,. The next time you buy 20%. Next time 30%. Then you ask if there is anything better than 35%.. And they say at twice the price, oil, tar, concentrate.
All the crap does is clog up your lungs. Would you like to look at my Cat Scan's? I can't breathe. Now Medicare is paying the bill. All not for weed, some from my years of work underground. And in concrete. But the weed did not help.
Biden!! What a JERK and I voted for him. Why are we paying for the bridge?
Why are we paying for the war effort for the JEWS? Let them pay for their own God dam bombs!!!
Why are we not giving Ukraine the bullets and bombs that they need to fight the Russians? Have we not learned anything form WW I or WW II?
What the fuck is up with no more cars with gas. I do not want to drive across the U.S with a car that can only go 69 miles that then has to recharged that takes 6 hours.
Nobody has said anything about the problem. THERE ARE TOO MANY GOD DAM PEOPLE IN THE WORLD. WE NEED ANOTHER GODD WAR. OR PEOPLE NEED TO STOP FUCKING!!!!!!!
Why do you send me this shit. Are you sure your want my commernt?
Go fuck yourself