Green is the new black… Cannabis is on a tear — sales at the top 10 publicly traded cannabis companies more than doubled over the last year. Scotts Miracle-Gro, the garden company whose cannabis subsidiary boomed last quarter, launched a cannabis investment arm last week. The new division already invested $150M in a Canadian cannabis company. Also: last week, a $500M ecomm site Leafly announced plans to go public via SPAC later this year.
After an infrastructure appetizer… it’s time to discuss the entree. Last week, a bipartisan group of Senators passed a historic $1T infrastructure bill to improve roads and rail, internet access, and EV networks. The tab will be partly funded by crypto taxes and Covid funds. But there’s a hook — House Dems plan to stall unless they can also tack on a $3.5T social and climate package. If the bills pass, they could kick off a new era of big government.