(Bloomberg) Later this year, the iconic Amagansett seafood shack Lobster Roll will open the first new location in its 55-year history. The outpost will have the same name and occupy the former Silver Lining Diner on the Montauk Highway in Southampton, N.Y.
Image source: Getty Images
Cannabis stocks have been on a tear in 2021, all since the election south of the border. With the United States seeing several new states legalize recreational cannabis use, there was even more excitement when Joe Biden became President. His administration announced before the election it would see the decriminalization of marijuana under his presidency.
While this isn’t federal legalization, it’s an enormous step. The country seems to have decided to let states choose whether to legalize cannabis or not. Each election year, more and more states decide that they don’t want to miss out on the cash from taxes. It might be in the next few years that we see federal legalization of cannabis.
By Reuters Staff
2 Min Read
(Reuters) - Aphria Inc posted an adjusted profit on Thursday compared to year-ago loss, as demand for cannabis and pot products surged during the coronavirus-led lockdowns, sending shares to their highest in more than two years.
Aphria’s Canada-listed stock rose 14.1%, while the U.S.-listed shares jumped 17.3%, as the company posted its seventh consecutive quarter of adjusted core profit.
The results come on the heels of Democrats securing control of the U.S. Senate, which paves the way for Congress to potentially approve legislation that would repeal the nearly century-long federal prohibition on cannabis.
Aphria, Tilray Deal Is a Bet on Euro Pot: Cannabis Weekly
Bloomberg 12/20/2020 Tiffany Kary
(Bloomberg) At first glance, Tilray’s deal with Aphria might look like a bid to create a Canadian heavyweight, or a move to gain a better foothold in the U.S.
But as the Italians say, “dietrologia” the surface explanation is never the real one. Much of the logic, it turns out, is rooted in Europe.
Tilray has a cultivation facility in Portugal, while Aphria has another in Germany plus a prescription business that’s connected to 13,000 German pharmacies and others throughout Europe. This allows for tariff-free cannabis for the European Union, which is a market that the companies are betting will liberalize quickly.
Tilray And Aphria To Merge And Form World s Largest Cannabis Company zerohedge.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zerohedge.com Daily Mail and Mail on Sunday newspapers.