The stock prices of cannabis companies are down 75% since 2020, when the outlook for legalization was positive.
Kim Rivers, CEO of Florida-based Trulieve, now believes that federal legalization will be “incremental” and will take years. She contends that the SAFE Banking Act, which would make it easier for cannabis companies to access the financial system, is the most likely reform to be passed at the federal level during Biden’s remaining term. Rivers, like many other CEOs, does not believe there is enough political capital to usher in de-scheduling or federal legalization right now.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: