Cannabis Legalization Efforts Gain Traction: This Week in Marijuana Investing

The legalization of cannabis is gaining steam in the Southeast. Efforts for marijuana legalization in Florida are happening as Alabama's licensing process is underway. South Carolina has a medical cannabis legalization program.

soko cannabis​​

Senator Tom Davis introduced the South Carolina Compassionate Care Act last week. The bill failed to pass the House due to issues related to taxes.

 Patients in South Carolina will be able to get cannabis through a licensed dispensary if the bill passes.

Better-informed investors are more intelligent. A majority of Republicans in South Carolina would like to see medical cannabis reform, according to a survey released in November. More than half of the voters were in favor of legalized weed. Director of State Policies Karen O'Keefe told SoKO Cannabis that the South Carolina Compassionate Care Act had been thoroughly reviewed over eight years. 

The revenue and tax cannabis allocation provisions that fell apart in last year's bill in the House have been removed from the senator's bill.

The States Reform Act, the best-looking piece of federal cannabis legislation we have seen to date, was championed by Representative Nancy Mace, who has supported marijuana at the federal level. New York has opened a second legal dispensary. Not all states have an even playing field regarding adult-use recreational markets. The New York Social Equity Cannabis Investment Fund approved a dispensary called Smacked. This is the first legal cannabis location in the state, and it was opened by a person previously convicted of cannabis-related crimes.

The first person to open a legal cannabis dispensary in New York City will be me.

I could never have imagined that I would open a store like this, given my experience with cannabis. This isn't just about my family and me. Everyone was hurt by the drug laws of the past; this is about them.

soko cannabis​​

We wish all of New York's social equity license recipients the best of luck, and we love seeing energy devoted to social equity in new markets and doors. 

The state's Social Equity Fund and its complete mismanagement of the now estimated 1,400 illegal cannabis shops is unfortunate.

It's hard not to see an uphill battle for operators at the state and city level, as we are proponents of a thriving legal market. The 280e federal tax is one of the burdens the industry bears. 

If you're going to purchase cannabis in New York City, you should buy it from legal doors.

 The two open shops are located in high-traffic areas of lower Manhattan. We can't vouch for the pricing, quality, or product selection. Still, we can't expect the legal industry to win if we don't support them. The demand for Codeine has been reduced by legal cannabis. It is possible to make valuable changes in our industry and society with the help of research. There has been anecdotal evidence pointing to the benefits of cannabis for a long time, but it's not uncommon for the ignorant to say there is no research. 

Currently, we will see more and more research about the benefits of cannabis legalization, but the stigma continues to diminish. 

New research shows that states that implemented recreational cannabis laws had less demand for prescription drugs. There was a decrease in the distribution of Codeine in states that legalized cannabis before the year 2019. Codeine has a high potential for abuse and can cause thousands of overdose deaths in the U.S. Thankfully, residents in legal states have access to quality marijuana.

soko cannabis​​

A reduction in the misuse of drugs can save lives. According to our research, recreational cannabis laws reduce the distribution of Codeine to the pharmacy. Lobbying dollars for cannabis are not as high as for Big pharma. We haven't seen the pharmaceutical camp wanting to partner with cannabis. The cannabis industry is focused on Washington, D.C., as pharma dollars crowd us out. There is still a lot of work to be done at the federal level.

Some operations of the company have been shut down. The themes of survival and advancement are key to the story of Poseidon in the years to come. As more distress comes to the surface, the cannabis industry is continuing to correct the challenging trajectory of 2022. There was too much money going under the sales pitch of debt as a "safer" way to invest in marijuana, so we warned about it. The results are sadly coming to fruition. 

"Bad companies are destroyed by crisis, good companies survive them, and great companies are improved by them," said the former Intel CEO.

Significant balance sheet steps taken by the industry's largest operator were revealed this week. The company is closing operations in California, Oregon, and Colorado. The states were operating at losses. CURLF's balance sheet could be changed by $125 million in positive free cash flow in 2023.

When we are in a bad news environment for marijuana stocks, the initial reaction to the announcement is adverse. The steps that will improve companies are the ones that we disagree with. We were aware that the first company to leap would get beat up, but we were not surprised to see others rightsize their operations on their way to generating positive free cash flow. 

The cannabis M&A market may struggle this year. M&A has been a theme in the legal cannabis industry for a long time. Cannabis is no different from M&A because it is always on the go. The industry is coming off a quieter year.

We don't see the upside in distressed assets compared to working with growing quality businesses. In the earlier part of an upswing, good companies at great prices will look better than struggling businesses at lower prices.

soko cannabis​​

All registered patients will receive a 30% discount at the dispensary's grand opening. Convenient online ordering and in-store pickup are also offered by Trulieve. All first-timers are eligible for a 50% new customer discount at any Florida location.

Kim Rivers, Trulieve's Chief Executive Officer, said that Trulieve is proud to open a new dispensary in Winter Haven. We are committed to being active in our communities and providing high-quality cannabis care.

As the state's leading medical cannabis provider, Trulieve patients can choose from the largest selection of products available in a variety of ways.

Our portfolio of brands is designed to meet the needs of every patient. Patients have access to beloved brands such as Alien Labs, Bhang, Binske, Blue River, Black Tuna, Connected Cannabis, DeLisioso, Khalifa Kush, Love's Oven, Miami Mango, O.pen, and sunshine cannabis, all available exclusively at Tru.

If you would like to learn how to become a registered patient, please visit and connect on social media.

Trulieve is an industry-leading, vertically integrated cannabis company and multi-state operator with established hubs in the Northeast, Southeast, and Southwest.

 Trulieve helps patients and customers to live without limits by providing innovative, high-quality products. Trulieve is traded on the OTCQX market under the symbol TCNNF. You can find more information at
Trulieve has a Facebook page.

You can follow Trulieve on IGTrulieve has a verified account on the social media site. Christine Hersey is the vice president of investor relations.

Keywords: South Carolina, South Carolina Compassionate, cannabis, Southeast is warming