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While April 20 celebrates many things — Look Alike Day, Husband Appreciation Day, and even National Cheddar Fries Day — a significant segment of the population sees it as a reason to rejoice over something else, cannabis.
Yes, today is 4/20 Day, an international celebration characterized by smoking weed (or eating marijuana edibles, if that’s your style) and focusing on the fight to legalize the plant.
In the U.S., 24 states have made recreational marijuana legal, with even more legalizing it for medical purposes. Still, cannabis is illegal on the federal level, although efforts are afoot from the Biden Administration and Congress to change that.
While most people celebrating 4/20 this year will be doing so to honor their love of Mary Jane, the cannabis industry will have other reasons to be happy, besides a boost in sales. The DEA and Justice Department are currently reviewing a recommendation from HHS to move marijuana from a Schedule I controlled substance — meaning it has no approved medical use and high likelihood of abuse — to Schedule III. This would be a first step to legalization on the federal level.
In addition, marijuana businesses could get a boost if marijuana banking legislation, the SAFER Act, wins approval in both chambers of Congress.
While the largest 4/20 Day free celebration takes place in Denver, according to the organizers of the Mile High 420 Festival, some companies are recognizing the day as well. Here’s a selection of what some of them are doing, as researched by Kyle Jaeger of industry news website Marijuana Moment.
KFC, the fried chicken chain owned by Yum! Brands (NYSE:YUM), made a post on X on April 19 advertising its new line of Saucy Nuggets. While the nuggets themselves don’t have any cannabinoids in them, the advertisement reads, “OUR SAUCE TAKES NUGGETS HIGHER – 4.20.24,” a likely reference to the enjoyment that is felt after a few marijuana hits.
Ben and Jerry’s, the iconic ice cream brand owned by Unilever (NYSE:UL), issued a press released on April 18 calling for cannabis criminalization as well as echoing calls from the American Civil Liberties Union for state governors to grant clemency for those convicted of minor drug offenses. For this year’s 4/20, Ben and Jerry’s said it is focused on the following: “Legalization without justice is half baked.”
Rockstar Games, whose parent company is Take-Two Interactive Software (NASDAQ:TTWO), is providing in-game bonuses that are 420-themed for players of its popular Grand Theft Auto video game through April 24.
Popeye’s Louisiana Kitchen, a subsidiary of Restaurant Brands International (QSR), is selling their popular fried chicken sandwich for $4.20 through today, but only if ordered through their app.
From April 18-21, Wingstop (WING) is offering its Wingstop Hot Box, “featuring their newest strain of T.H.C. (The Hot Chili) Rub.” In a news release, the company explained that the wings do not contain any cannabis, cannabis derivatives, or actual THC.
And if you want something appropriate to drink along with your marijuana, look no further than SweetWater Brewing Company’s 420 Extra Pale Ale. Though the beer doesn’t contain any cannabis or cannabinoids, the company says that the beer was created on April 20. And SweetWater itself is owned by Tilray Brands (NASDAQ:TLRY), a major cannabis cultivator and distributor.
Multi-state operators: Ascend Wellness (OTCQX:AAWH), Curaleaf Holdings (OTCPK:CURLF), Cresco Labs (OTCQX:CRLBF), Green Thumb Industries (OTCQX:GTBIF), Trulieve Cannabis (OTCQX:TCNNF), Ayr Wellness (OTCQX:ATRWF), Verano Holdings (OTCQX:VRNOF), and Jushi Holdings (OTCQX:JUSHF).
Cannabis ETFs: AdvisorShares Pure Cannabis ETF (YOLO), ETFMG Alternative Harvest ETF (MJ), and Amplify Seymour Cannabis ETF (CNBS).
