Why The Biden Administration Advises Applicants Not To Invest In Cannabis: 'Not Knowing Is Not An Excuse'

Why The Biden Administration Advises Applicants Not To Invest In Cannabis: 'Not Knowing Is Not An Excuse'

The Biden administration recently expanded its employee conduct guidelines to potentially decline security clearance to people who have backed marijuana-related business.

“Eligibility may be negatively impacted if an individual knowingly and directly invests in stocks or business ventures that specifically pertain to marijuana growers and retailers,” according to a document obtained by Politico. “Decisions to willfully invest in such activity could reflect questionable judgment and an unwillingness to comply with laws, rules, and regulations.”

It looks like the federal government is working on updating its human resources policies to keep up with the development of the seemingly unstoppable cannabis industry, seeing that 37 states and the District of Columbia have already legalized marijuana for either medical or recreational use, or both.

Mixed Signals 

President Joe Biden's White House seems to be taking a kind of loosening approach to cannabis use than its predecessors. Shortly after setting up in the Oval Office, Biden issued a memo stating that prior marijuana use would not automatically disqualify applicants.

Nevertheless, this did not actually happen. Last year, several White House staffers were fired due to prior cannabis use.

Hence, the new guidance makes things even more confusing. On the one hand, the presentation says that any cannabis-related investment “through a diversified mutual fund that is publicly traded on a U.S. exchange” should be considered to have been made unwittingly, but on the other, at the end of the presentation it clearly states: “NOT KNOWING IS NOT AN EXCUSE.”

Furthermore, the updated guidance also notes that “The new guidance also states that 'divestment or disassociation of willful, direct investment in such activities should be considered a mitigating factor.'”

The Chaos Continues…Or Is It Indication Of Federal Legalization Plans? 

The real question here is: which cannabis stocks the White House is alluding to? It is well-known that American cannabis companies can’t be traded on major U.S. exchanges because they are not federally legal businesses. This means that U.S. – based marijuana companies usually list on the Canadian securities exchange, or on a lower-tier stock exchange in a country where marijuana is legal.

Neither the NYSE nor NASDAQ exchanges accept companies that sell cannabis in the U.S., even when operating in states where adult-use consumption is now legal for the simple reason that federal law trumps state law.  

Some major Canadian cannabis companies, like Tilray TLRY and Hexo HEXO, do list on these exchanges. When it comes to their operations in the U.S., they don’t touch the cannabis plant but rather remain focused on hemp-derived CBD.

Here's The Question

Could it be that the issuance of new guidance indicates possible or imminent federal legalization, with the government's intentions to be prepared with its policies so as to avoid conflicts of interest?

Well, anything is possible.

After all, during his 2020 presidential campaign, Biden repeatedly said that he wanted to see marijuana decriminalization as well as automatic expungement of prior cannabis convictions.

After a full year in the Oval Office, Americans have seen neither, so perhaps the President has finally decided to make good on his campaign promise.

Image Courtesy of El Planteo

Original publication: March 3, 2022

Posted In: Federal Cannabis LegalizationICYMIJoe BidenPoliticoWhite HouseCannabisGovernmentNewsPenny StocksRegulationsPoliticsMarketsGeneral

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11 Best Black Friday Deals on Amazon

11 Best Black Friday Deals on Amazon

The best Black Friday deals from Amazon are still coming hard and fast because the holiday is not yet upon us and the mega-retailer prefers to keep consumers on the hook for as long as possible—spending as much money as possible. 

To that end, here are some of the best Black Friday deals from Amazon that you might want to consider today.

Calphalon 10-Piece Pots and Pans Set

Regular Price: $172

Sale Price: $138.88

Calphalon’s 10-Piece Pots and Pans Set is designed with stainless steel, stay-cool handles along with pour spouts. The nonstick surface is PFOA-free and built with hard-anodized aluminum that is both durable and conducts heat extremely well. The set includes 2 fry pans, a sauce pan with cover, saute pan with cover and large stock pot with cover.

Apple AirPods 2nd Generation

Regular Price: $144

Sale Price: $85.49

The 2nd Generation AirPods from Apple connect to all Apple devices and give you an enhanced listening experience. Plus, they come with a case that keeps them safe and allows you to charge them in a secure environment. With over 24 hours of battery life, access to Siri and easy setup, you can start listening to your favorite tunes or podcasts today.

Adidas Ultraboost 21 Running Shoes

Regular Price: $129.98

Sale Price: $89.98

The Adidas Women’s Ultraboost 21 running shoe is perfect for anyone who likes a short run, maybe a 5K, half marathon or more. Coming in several colors and styles, you can slip these shoes on, enjoy the cushioned outsole, sink into the supple insole and secure laces.

Ninja AF101 Air Fryer

Regular Price: $129.99

Sale Price: $97.83

The Ninja AF101 Air Fryer allows you to crisp, roast, reheat and even dehydrate food products faster and cheaper than ever before. It has a 4-quart capacity and offers a wide temperature range along with several time settings so that you can customize each dish to your needs. Plus, all the parts are dishwasher safe.

Beats Solo3 Wireless On-Ear Headphones

Regular Price: $199.95

Sale Price: $99

Beats by Dr. Dre are among the best headphones on the market, and the Solo3 Wireless On-Ear Headphones include the Apple W1 chip, Class 1 Bluetooth and 40 hours of battery time. These headphones even have a built-in microphone and offer an adjustable fit so that you can be comfortable whether you’re listening to an Android or iOS device.

Hoover Power Scrub Deluxe Carpet Cleaner

Regular Price: $198.98

Sale Price: $175.98

The Hoover Power Scrub Deluxe Carpet Cleaner allows you to keep your home spotless and clean up after your pets. The cleaner comes with the Hoover Paws and Claws Deep shampoo and a storage mat to keep the floor dry once it’s put away.

LG CordZero Auto Empty Cordless Stick Vacuum

Regular Price: $999.00

Sale Price: $851.71

The LG CordZero Auto Empty Cordless Stick Vacuum and Wet Mop All in One Tower is designed to work in homes with several pets or children and clean up all the messes that life brings. The battery lasts up to 2 hours, and there’s an extra removable battery that gives you even more cleaning time and power.

Breville Fresh and Furious Blender

Regular Price: $278.60

Sale Price: $199.95

Breville, a top name in blenders and juicers, offers the Fresh and Furious Blender, featuring 50-ounce capacity, Vac Q technology, pre-programmed cycles, LCD display and lid with pull ring. With the Fresh and Furious Blender, you can make everything from a smoothie to a soup and everything in between.

Hot Tools Professional 2000 Turbo Ionic Hair Dryer

Regular Price: $89.99

Sale Price: $55.63

The Hot Tools Professional 2000 Turbo Ionic Hair Dryer is designed for professional use, but it works perfectly in the home. With 1875 watts of power, 6 heat and speed settings and a lightweight design, you can easily style your hair and utilize the diffuser, cut back on the frizz and stretch the 8 ft cord for maximum functionality.

Columbia Heavenly Long Hooded Jacket

Regular Price: $160

Sale Price: $97.38

The Heavenly Long Hooded Jacket from Columbia is designed to be light for everyday use, but it’s heavy enough to protect you from the cold. The plush fleece lining, security pocket, water resistant fabric, 2-way zipper, and zippered hand pockets make the jacket both protective and functional.

ConAir InfinitiPro Hair Dryer

Regular Price: $49.99

Sale Price: $29.99

ConAir is one of the biggest names in hair and beauty, and the InfinitPro is an 1875 watt hair dryer designed for professionals with ceramic technology. The dryer comes with a diffuser and concentrator, and it allows you to blow out your hair just the way they would at the salon.

Deals the Experts Are Hoping For

Experts believe that Amazon’s Black Friday sale could linger for quite some time. It all started with the Prime Early Access sale on October 11 and 12. Previously, Amazon has offered the “Epic Deals” sale that ran through late October. 

This is to say that any sale could come up at any time. 

Even so, those monitoring Amazon are looking forward to a few potential deals, including:

  • Apple Watch
  • AirPods (any generation)
  • MacBook Pro
  • Large, underpriced TVs
  • Amazon Echo
  • More small home appliances (Dyson or Shark vacuums, Instant Pots, etc.) 

While these predictions are based on last year’s Amazon Black Friday Sale, it’s important to remember that most Black Friday sales are fairly consistent and push the products that are most likely to sell.

 

Featured image sourced from Shutterstock

Posted In: Partner ContentGeneral