Marijuana Banking Bill House Floor Vote

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Marijuana Banking Bill House Floor Vote
<a href="https://pixabay.com/users/TerreDiCannabis_/">TerreDiCannabis_</a> / Pixabay

The Marijuana Banking Bill House Floor vote this afternoon

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Q1 2021 hedge fund letters, conferences and more

The following is a reaction, statement from Lauri Kibby, co-founder and chief financial officer of Kings Garden, a private, profitable cannabis cultivation, processing, and manufacturing company based in California's Coachella Valley:

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Nestle Dan Loeb Daniel Loeb third point capital hedge fund manager activist investor poison pen activism Yahoo corporate governance famous investorsThird Point's Dan Loeb discusses their new positions in a letter to investor reviewed by ValueWalk. Stay tuned for more coverage. Loeb notes some new purchases as follows: Third Point’s investment in Grab is an excellent example of our ability to “lifecycle invest” by being a thought and financial partner from growth capital stages to Read More


The Need For Marijuana Banking Bill

"This legislation is needed to make clear that banks can legally work with cannabis companies, free from worry about excessive regulation or fines. Currently, most banks do not work with cannabis companies because of such concerns. As a result, businesses, workers and communities in several states must deal in piles of cash because of the conflicts between state and federal law. This creates logistical challenges and, for many, threats to safety. Businesses that house large sums of cash are obviously vulnerable to robberies."

"The SAFE Banking Act is not a panacea. But if signed into law, it would ensure that financial institutions could take on cannabis business clients without facing federal penalties. The legislation also requires federal regulators to issue guidance to financial institutions on how best to work with cannabis companies, encouraging transparency and fairness while also providing banks more clarity on rules. The legislation should also provide more opportunity in the capital markets, given that U.S.-based investment banks and funds will gain clarity as well.”

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Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver

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