20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
New York lawmakers are looking to expand on last year's efforts from state authorities to crack down on illicit cannabis sales.
One idea under consideration is a bill under which stores caught possessing or selling illicit cannabis would be stripped of their licenses to sell cigarettes, alcohol and lottery tickets, reported the Journal News.
Sponsored by Sen. Jamaal T. Bailey (D), S8847, would "permit the revocation of a tobacco, liquor or gaming license of a business found to have sold or possessed illicit cannabis," according to an official summary of the bill.
Under the legislation, the first violation would result in a one-year revocation of state licenses to sell such products. The second and third offenses carry three- and five-year license revocations, respectively.
The measure was introduced in March and is now being debated by members of the Budget and Revenue Committee of the New York State Senate.
New York's Efforts To Clamp On Illegal Sales
New York Gov. Kathy Hochul proposed a measure last spring that would give authorities the power to shut down illegal pot shops and levy fines of up to $200,000 for those breaking the state law. Before that, Hochul created a $200 million public-private fund in Jan. 2022 to support social equity applicants.
"The continued existence of illegal dispensaries is unacceptable, and we need additional enforcement tools to protect New Yorkers from dangerous products and support our equity initiatives,” Hochul said over a year ago.
New York cannabis regulators approved Hochul's measure by June. Shortly after, an interagency task force including agents from New York’s Office of Cannabis Management (OCM) and the Department of Taxation and Finance began seizing unlicensed cannabis products and shutting down illegal storefronts in New York City.
In December, Hochul's administration announced it had seized over 11,000 pounds of illicit cannabis products worth more than $54 million. According to the NY Post at the time, 350 locations have been raided and inspected by law enforcement agents including the New York City Sheriff's Joint Compliance Task Force.
New York’s beleaguered cannabis industry will surely be discussed at the upcoming Benzinga Cannabis Capital Conference in Florida on April 16 and 17.
The two-day event, being held at The Diplomat Beach Resort is a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world. Get your tickets now on bzcannabis.com – Prices will increase very soon!
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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