EDIT: I WAS RIGHT YOU REGARDS!!! LETS FUCKIN GO
Ok here’s the deal. We all remember the hype when Canada legalized. Everyone thought it was the ultimate infinite money glitch.
And for a while, based on the hype, it was. Canada was the first major first world country to outright legalize (sorry Netherlands your half measures are no good for stonks), and the outlook was looking good for US legalization. We had a boomer Republican president in the US at the time, but one who was decidedly less hostile to Marijuana than the typical boomer Republican. Speaking of boomers…their parents who grew up watching reefer madness and blamed all crime on Mexican reefer addicts and always voted 98% no to any loosening of marijuana laws were finally starting to fucking die. No one under 40 still thought it should be illegal and the national pulse had finally turned in favor of legalizing nationwide in the US. Everyone saw it coming imminently.
But Canada is a nation of 38 million. Barely a single major city in the US. Not nearly enough to justify the size and scope of the weed market that emerged. The stonks soared. I remember ACB at 200 times it’s current price.
But it slowly dawned that no, in fact, America wasn’t going to reschedule, let alone legalize. There wasn’t going to be a big enough market to support all the infrastructure the Canadian firms invested in. The stocks cratered and a lot of degenerates lost a lot of money.
Then Biden, a democrat, gets elected….the democrats being the party who overwhelmingly support legalization, it stood to reason that a liberalization of American marijuana law was imminent and again the stocks popped, though nowhere near the 2019 highs. This is where I jumped in (MJ ETF, ACB and OGI)…and again, it slowly dawned that US legalization was going nowhere…and again the stocks slowly waned, punctuated occasionally by big pops on irrelevant news like another state legalizing…each time I thought this was it, this time it turns around for good.
I lost like 75% before giving up and selling my shares, and good thing I did, because I’d have lost another 75% had I sat on it.
Now Germany just legalized and again the stocks are popping and a lot of us can’t see past these old painful memories. I get it.
Just hear me out.
Now keep in mind right off the bat Germany is a much bigger nation and economy than Canada (>2X the population and 2x the GDP, roughly). It alone can support a much larger market than Canada. So the pop in weed stocks we’ve seen now is already justified and yet they still have tremendous upside.
But my fellow regards, this is just the warmup round.
Joe Brandon is in trouble. He’s behind in the polls, he’s seen as old, stuffy and senile. His oldness, stuffiness and senility are perfectly encapsulated by his antiquated commitment to continuing marijuana prohibition. It’s worth noting that he is the leader of a party that abandoned its commitment to marijuana prohibition decades ago and while he’s stubbornly been clinging to it more and more of the old fuddie duddie hardliners have died and almost no one in the country still supports continuing prohibition. Certainly almost no democrats. Also, RFK is running as an independent and he has confirmed he will make marijuana legalization a priority. While RFK will be pulling support from trump too (think Covid hoaxery) I am convinced he’ll be pulling harder from Brandon.
Brandon needs something big to revitalize his campaign, and he’s been dropping hints that marijuana very well could be that thing. April is “second chance month” and this year he went further than before in his commentary on the topic, suggesting rescheduling and/or hinting at legalization. Kamala Harris has been pressuring the DEA to take action now. Things are happening that are unlike anything from 2019 or 2021. Traditionally 4/20 is associated with marijuana and the bettor in me senses something big may be coming this month, possibly on or arou