How to Position Your Cannabis Portfolio for a Biden Presidency
Ryan Allway
December 8th, 2020
App, Exclusive, News, Top Story
The House of Representatives cast a historic vote to end the nationwide prohibition on cannabis on December 4, 2020. While the MORE Act would remove cannabis from the Controlled Substances Act and decriminalize the drug across the country, the legislation will almost certainly fail to pass the Republican-controlled Senate.
While decriminalization won’t happen this year, Joe Biden’s win over Donald Trump could pave the way for decriminalization during his administration. Biden proposed decriminalization and expungements on the campaign trail while Kamala Harris was the lead sponsor of a version of the MORE Act introduced in the Senate.
Let’s take a closer look at Biden’s stance on cannabis and how to best position your portfolio to capitalize on these trends.
Favorable Stance on Cannabis
The cannabis industry experienced some big wins on November 4th with adult-use legalization wins in Arizona, Montana, New Jersey and South Dakota and medical legalization in Mississippi and South Dakota. While these wins are important at a state level, the election of Joe Biden could be transformative for the industry on a federal level.
Biden emphasized on the campaign trail that cannabis decriminalization and expungements would be part of his racial justice agenda. While he played a key role in advancing punitive anti-drug legislation in the 1990s, Biden’s stance on cannabis has evolved over time to support decriminalization, expungements, rescheduling and letting states set their own laws.
Aside from Biden, Senate Minority Leader Chuck Schumer has already indicated that legalization would be a major priority in a Democrat-controlled Senate and House Speaker Nancy Pelosi has already brought the MORE Act to a vote in 2020. The success of federal legalization efforts will largely depend on the run-off Senate races in Georgia.
Investing in Decriminalization
The decriminalization of cannabis will certainly open the door to more robust state-by-state legalization frameworks, but without control of the Senate (or even with control), a federal adult-use legalization framework is unlikely to see the light of day. With a patchwork of state regulations remaining, compliance will remain extremely important.
ManifestSeven Holdings Corporation (CSE: MSVN; OTCMKTS: MNFSF) has built a business around compliant cannabis distribution and retail in California. Like Amazon for ecommerce, the company is building the first B2B and B2C omnichannel infrastructure that addresses cannabis distribution, dispensary, delivery, in-store pickup, subscription and ecommerce avenues to reach consumers.
Click here to receive an investor presentation and corporate updates
The company’s expansive network already reaches 88% of California’s market with 200+ partner dispensaries and online/telephone venues that reach more than 23 million consumers. After raising $10.2 million in a challenging fundraising environment over the course of 2020, the company went public earlier this year, enabling investors to participate in its potential.
Over the coming quarters, the company is focused on achieving profitability and developing a strategic M&A pipeline focused on undervalued, accretive operations in key markets. Management’s expertise in compliance could help it expand into other states over the coming years while building its own in-house dispensaries and brands.
For more information, visit the company’s website or download their investor presentation.
Looking Ahead
The November 4th election was a big win for the cannabis industry as several new states embraced legalization. At the same time, Biden’s victory could pave the way for decriminalization and expungements on a federal level. These dynamics still leave a lot of regulatory red tape, however, that companies like ManifestSeven Holdings Corporation (CSE: MSVN; OTCMKTS: MNFSF) address with compliance-focused business models.
Click here to receive an investor presentation and corporate updates
Disclaimer
The above article is sponsored content. CannabisFN.com and CFN Media, have been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: https://cannabisfn.com/legal-disclaimer/
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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