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Dec 15 is the possible marijuana SAFE Banking Act voting date

Updated: Dec 5, 2022

Written by Moneypig Trading Team

Update on Dec 5, 2-22


Moneypig Trading is a group of data-driven investors and traders with excellent and consistent investing and trading records, as shown here.


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What is the marijuana SAFE Banking Act?


The marijuana SAFE Banking Act could be a significant catalyst for the marijuana industry because the following reasons

  • It can bring institute money into the marijuana industry

  • The marijuana industry can finally get mortgages from the banking system to grow in scale

  • Canada marijuana companies, such as $TLRY and $CGC, might be able to enter the US market without being delisted by NASDAQ

  • US marijuana companies listed in the OTC market can be uplisted into NASDAQ.

There is much more to cover about the history of marijuana legalization and the SAFE Banking Act. Please watch our 10 minutes youtube videos for a quick summary:

https://youtu.be/zskhhx-3lYE


Don't forget to subscribe our Youtube Channel: MoneypigTrading!

Now when will the Senate vote on the marijuana SAFE Banking Act?


The date will likely be Dec 15, 2022. Why? As you can see in the schedule below, the time is running short to pass the marijuana SAFE Banking Act. The current Congress term finished on Jan 3, 2023. After Jan 3, 2023, GOP will control the House, where any marijuana legalization bill could be more challenging to pass. Moreover, there will be no Congress meeting session between Dec 22th, 2022, and Dec 31th, 2022. So if the current Congress wants to pass the SAFE Banking Act, they must act fast.


In July 2022, the SAFE Banking Act was included as an amendment to the National Defense Authorization Act (NDAA). NDAA has been a must-passed bill yearly to support the Department of Defense for the past 41 years. Therefore, NDAA could be an excellent legislation vehicle for the SAFE Banking Act, and these two could possibly be voted together on Dec 15, 2022.

Dec 5, 2022 update


In a phone call to the Department of Justice on Dec 5, 2022, Senate Grassley (Republican) has been against recreational marijuana legalization but has supported medical marijuana legalization.




Senate Grassley's disapproval shouldn't affect the SAFE Banking Act being passed in Senate by Jan 3rd, 2022, since there are supports from the bank industry and many other Senate Congress members. However, Senate Grassley's disapproval does lower the chance of the SAFE Banking Act being included in the NDAA vote before or on Dec 15, 2022






How much higher can marijuana stocks go if the SAFE Banking Act is passed?


Our rough modeling estimate suggests that Tilray Brands (NASDAQ $TLRY) could go up as much as $8/share~$20/share (95% confidence interval), translating into a potential +100%~400% upside from $4/share. However, many factors and uncertainties can affect marijuana stock prices, as highlighted below. So the estimated range here is very large.



If you are interested in learning more details, please check our 15 minutes Youtube video below:


"Marijuana Stocks Introduction 2: Canada Marijuana Companies Tilray $TLRY Potential +100%~400% Upside"

Don't forget to subscribe our Youtube Channel: MoneypigTrading!

About us:


Moneypig Trading is a group of data-driven investors and traders with excellent and consistent investing and trading records, as shown here.


Sign up Moneypig Trading Discord group to excel in your Trading!

Disclaimer:

  • Not financial advisors. Please invest at your own risk.

  • We are currently holding $TLRY $CGC stocks & long call options

  • If marijuana is not legal where you are located, we do not encourage any use, growth, or sale of marijuana. Please consult your local attorneys for any related questions


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