Cannabis operators and executives tell Benzinga that the movement of private and public companies may serve as a better indicator of regulatory activity than the federal government. At the very least, they say that the industry has made advancements so far without the efforts of Capitol Hill.
Poseidon Asset Management managing director Emily Paxhia recently mentioned that she and her firm are tracking the steps of private companies, cannabis and otherwise, noting which prominent brands are supporting the cannabis industry.
Paxhia highlighted Nike Inc‘s (NYSE:NKE) recent support of track star Sha’Carri Richardson over her suspension from the Olympics over cannabis use.
Calling the actions “signaling moments,” Paxhia said investors and operators should consider, “Thinking about these bigger companies and looking at directions from them, not always from the regulators who seem to be lagging behind.”
Cannabis Policy Reform: “Big Business Led It…Very Little Government Intervention”
Operators in various sectors of cannabis feel that the industry provides a better insight into regulatory needs and movements than lawmakers.
Michael Sassano, CEO of Somai Pharmaceuticals, believes that big business is doing fine, shaping the industry’s market without the federal government. He expects this trend to continue.
“All this continues while the government