The Drug Enforcement Administration published its proposed rescheduling of cannabis today. There is a comment period that ends on July 22nd.
The biggest outcome of cannabis being rescheduled from Schedule 1 to Schedule 3 would be the elimination of the onerous 280E taxation. We first wrote about this as being very necessary for cannabis stocks to rally in our newsletter on December 11, 2022. President Biden had already shared his plans to potentially reschedule.
The end of 280E taxation would boost cash flow and net income for the companies that grow, process or sell cannabis in the United States.
Based in Houston, Alan leverages his experience as founder of online community 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst following over two decades in research and portfolio management. A prolific writer, with over 650 articles published since 2007 at Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker at industry conferences and a frequent source to the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | LinkedIn | Email