Out Fox The $treet

Update - Dec. 19 The market remains absurd at the lows. $ CURLF  and other $ MSOS  weren't priced for the SAFE approval and don't even need the bill. People selling don't know what they are doing. -A long-shot attempt by lawmakers to get the SAFE Banking Act passed by including it in the omnibus spending bill has failed, Marijuana Moment reported. -Most of the major multi-state operators fell by double digits late in Monday's trading session when the news broke. -While the legislation could still pass as a stand-alone bill in the lame duck session, with only a couple of weeks until the new Congress is sworn in, that prospect is highly unlikely. -There is hope that the legislation will have legs in 2023. Rep. Patrick McHenry (R-N.C.), the incoming chair of the House Committee, recently told Punchbowl News that while he is opposed to the legislation, he has "pledged to have an open process" in discussing it. Update - Dec. 16 Schumer continues working on  SAFE+ a...

  Trulieve Cannabis trades at multi-year lows near $10. The MSO offers substantial upside on any federal legalization, but the large MSO provides relative safety in the sector. The stock is cheap trading at only 4x forward EBITDA targets. As signs start pointing to some version of the SAFE Banking Act getting approval later this year, investors need to start positioning in U.S. cannabis companies set to benefit from access to the banking system and uplisting  to major stock exchanges.  Trulieve Cannabis  ( OTCQX:TCNNF ) is one of the safer options to play federal legalization while protected in a scenario where legalization again fails to obtain approval. My  investment thesis  remains Bullish on the multi-state operators (MSOs) set to benefit the most from changes to the cannabis rules at the federal level. Read the full article on Seeking Alpha.  Disclosure: No position mentioned. Please review the disclaimer page for more details.