Seth Rogen and Evan Goldberg launch a recreational cannabis company “Houseplant” in collaboration with Canopy Growth. How can this affect the cannabis industry?
It’s usual for a celebrity to partner with a major brand or organization. However, this particular partnership is a statement, in my opinion, towards bringing cannabis mainstream one step closer to the federal legalization. Why do I say this? When you look at the legalization of alcohol and how it was introduced into mainstream media, you’ll find celebrities, television stations, and other brands partnering with alcohol distributors or manufacturers. That said, when the prohibition ended, alcohol was slowly but surely introduced into sitcoms, movies and even on a stage. As we well know, the media is the strongest influencer and the quickest way to get into the homes of the public.
The Texas House Committee approved a marijuana decriminalization bill. What do you think about it?
It’s definitely a BIG step and a true feat for Texas, but a couple of questions still remain:
(1) Will the bill become the law? (2) What will Patrick do? He still controls the state Senate's agenda in his role as the body's president and he’s strongly opposed to changing the marijuana laws. My opinion, it’s Texas; anything can happen, it could go either way. I’m just not confident as it stands that it will at this time.
Did some quick research. Rogen and Goldberg add to a growing list of celebrities teaming with Canopy for retail opportunities. Canopy is very focused on retail brands but has yet to show much in the way of profit margin for its growing revenues. P/E is a minus 146 and with a forecast of minus nine hundred something in 2022. https://www.nasdaq.com/symbol/cgc/pe-ratio
So my answer is: not sure a couple of comedians will help their model.
As for Texas, stop wasting time and legalize cannabis. It will happen, and worldwide, just a matter of time and politicians seizing the economic opportunity for tax generation. Sorry, being honest. The above is not intended as investment advice and is based on limited information (except the part about Texas).
Houseplant — if successful other celebrities may follow. The product has to be superior or it'll be yet another celebrity vanity project. As far as having an effect on the industry; there won't be any.
Texas is interesting and decriminalization is the first step towards some form of legalization, likely medical. What will be interesting is to see who's against it? Will the infamous prison industrial complex of Texas fight it with their lobbyist? I expect so but quietly. Of the remaining non-legal (at some level) you would expect Texas to move faster toward legalization considering their history of independent attitudes. But dollars have a way of polluting a politician's job of enacting the will of the people into "what's good for my cronies?"
It’s great to see another big name taking part in the industry. And his support only strengthens the cause for national de-regulation. Houseplant will increase awareness and acceptance for cannabis and should have a positive impact on the industry.
With Texas recognizing the benefits of cannabis therapies, we can expect accelerated changes on the Federal level. I think this is the best indicator of broad acceptance across the country of the cannabis industry.
For reference: “Houseplant” is a Canadian company, as is Canopy Growth. Both companies are anticipated to make a launch into the US in the next few years. Canopy Growth has already made advances into the US with agreements with Martha Stewart and has begun the foundation here in the US. To be clear, I have also been a paid educational consultant for Canopy Growth. The cannabis industry has already been and continues to be a huge marketplace, with the anticipation that smaller growers/producers/manufacturers will either be bought out or sidelined by large corporations such as Canopy Growth. This carries both advantages and disadvantages. The advantages of larger companies are mainly to the consumer, with better regulations, consistency in the product line, production and access being brought to the individual consumer. The disadvantages are smaller number of artisanal production, potentially higher prices and less variety of products. This new collaboration of Rogan/Goldberg with Canopy Growth will hopefully continue to dedicate a portion of their company to education, quality and guidance in cannabis use and regulation.
This is a great step for Texas, especially given the very traditional perspective of the state. This is absolutely the right direction for Texas to implement a decriminalization bill, with a considerably smaller fine associated with it (~10% of the prior fine). More importantly, is the change in perspective and understanding that is being attached to this bill. With decriminalization, Texas is acknowledging that Cannabis is not a dangerous substance in moderation (as this bill applies to individuals carrying less than 1 oz). This also reflects the mood of the country as a whole, towards recognition of cannabis and its use as non-criminal. This is potentially a step towards the country’s adult use legalization. As a representative of the medical community, I do feel passionate that the next step should be first: an education of both the public and medical sectors about the use of cannabis for both a medical and recreational purposes.
Many Brands are being created for Cannabis products and many new consumers are being affected by celebrity influencer. I think this takes the stigma out of recreational cannabis.
I believe this is good for all of the USA to have Cannabis decriminalised. legalisation will be the next, this will allow the industry to be taken out of the hands of criminals and regulated for safety and quality. This also paves the way for scientists to work on the many medical benefits of the cannabis plant.
Seth Rogen and Evan Goldberg are part of an emerging group of celebrities who see great potential in the cannabis business industry. It’s still too early to evaluate the impact Houseplant will have on the industry itself, but it is very important that celebrities are coming out, backing the cannabis community and helping destigmatize, educate as well as normalize cannabis, as an everyday commodity.
The approval of the marijuana decriminalization bill by the Texas House Committee is an important step in the right direction. The bill, that would make possession of 1 ounce (28.35 grams) or less punishable by a $250 fine with no jail time, has still to be placed on the House calendar for a full floor vote before it is implemented into law. Having a criminal record for possessing a small amount of cannabis can be highly detrimental, especially for young people, in preventing them from obtaining employment, housing and education.
Five other bills have been discussed in the House Criminal Jurisprudence Committee, on the reduction of penalties for possession of various quantities of cannabis, and the House Agriculture and Livestock Committee discussed several pieces of hemp legislation.
It is important for the state of Texas to keep up with other states, that have already implemented some of the proposed laws and regulations. What medical cannabis patients are missing, is an expansion of the limited medical cannabis laws, which are one of the most restrictive and should be a priority for Texas lawmakers.
Texas - decriminalization does nothing to ensure the safety of supply for patients. The worst possible route to ensure patient and cannabis safety is simple decriminalization - no longer arresting innocent people is a small win, but simply doesn’t go far enough. A step backwards as far as I am concerned. Legalize and pardon those with possession convictions, and ensure a safe regulated supply for patients. Decriminalization is a “cop”out and only legitimizes black market supply. 1 - 0 for the cartel, their supply is about to be legal in Texas.
This move could set the stage for other celebrity cannabis ventures that would likely drive revenue growth for these enterprises. This will benefit the industry as a whole.
A good first step and a prelude to full legalization.
I think Seth Rogan's name will help sales.
I think Texas getting on board is a good step in the right direction for the country.