Ken Griffin recently announced he is putting $12 million toward the defeat of the marijuana amendment in Florida. He also wrote an editorial in the Miami Herald that gave a bunch of talking points, some of which are legitimate, some of which are FUD.
I don't care about the genuine societal issues so much as I wonder if there are potential underlying reasons – and I regard this as a place overflowing with experts on Griffin. My first post was removed, likely due to politics as it was only a link without any further context. But I consider this closer to discussion of the holdings of various congressmen and how well regarded those investments should be seen as.
My question is, is there some obvious way Citadel would profit off the defeat of the amendment and thus a way we can profit off of either side?
Alcohol for example appears to be bought less in younger generations who appear to prefer alternate means of intoxication. According to the industry's own research in Gen Z adults of legal drinking age, 54% have not consumed alcohol in six months, compared to 37% of the overall legal drinking age population. This while in older generations drinking was actually going up. Similar results with Pew.
I think older investments of Citadel may have been in part alcohol related, but I don't know about modern holdings – I can only find information about the primary alcohol researcher leaving. Honestly, I only know in passing about Citadel or what is required to be disclosed. There are also many other holdings which I'm sure are downstream beneficiaries with either result from the current sellers of "medical marijuana," which are often some form of monopoly or cabal to just ensuring a large turnout of opponents to push through other business interests on the ballot, like Senator Scott, who I imagine is a useful voice for Citadel's interests. Someone also noted that cannabis can be a substitute for certain pharmaceuticals, and Florida is overflowing with older people on Medicare who literally take everything and are given whatever they want by doctors because they are at Heaven's doorstep anyway.
Basically, I think there is likely actual reasons that differ from his stated ones. I know during the previous boycotts on beer some of the higher up Republicans started freaking out about going off message on one of the larger benefactors of both parties, who afterward starting cutting donations to some and increasing to others. There are other possible issues, so I'm just throwing this out to see if anyone else knows more. DeSantis has been highly opposed to the amendment, but also regularly attacks industries in his own state, most notably Disney, but he also was one of the ones attacking Bud Light. I'm not actually thinking I have enough money to make stock picks based off of this unless it is life changing (I invested in myself, which was a mistake), but I feel like it could give me some insight on what to watch for when things like this come up when they do.
Ken Griffin's $12 million investment to defeat the Florida marijuana legalization amendment and non-stated reasons he would do so.
byu/ADHD_Avenger inwallstreetbets
Posted by ADHD_Avenger
20 Comments
Think they’re the biggest short of $MSOS. I’m loading up on $MSOS. If custody issues are resolved all shorts are going to be obliterated when the uplisting happens. Schedule 3 is first step and should happen soon within the next 30-60 days. Good time to load up on $MSOS. Trump is going to support Florida legalization in the next couple of weeks and fcuk Ken’s $12million.
That mfer high AF 😮💨
He’s a Dick
He holding a short position on weed stocks me thinks.
If it’s related to competing industry investments, that would be pharmaceuticals, not alcohol.
Also, this is just what a lot of billionaires do. 99% of them are megalomaniacs and they have predisposed biases just like the rest of us. So sometimes they’ll just throw money to support those biases without any grander reasoning.
Major corporations are invested in the prison industrial complex. Gotta keep them filled somehow.
I misread that name and was wondering why Ken Griffey Jr. cared that much about the marijuana legalization amendment in Florida haha
Hot take: Kens lil 12 mill isn’t for stock investment or tickers. Hes buying political favor.
Someone just tell me what to do so I can play both sides. That way I’ll always come out on top.
Lol, nice catch but it’s probably some culture warrior nonsense.
Recreational marijuana is bad for a c0ke-laden place like Florida because the average runner is just going to say F it and smoke weed rather than get all jacked and run around like an idiot.
My guess is for profit prisons. I wonder what his ties are to those
Citadel has been known to be bigly short on cannabis stocks for many years.
It’s a dumb money trade thats mostly crowded by a younger, less experienced group of investors susceptible to being ripped off by a fund like Ken’s that play seriously greasy games.
What a dumb fk!!
kathy griffin nudes or gtfo
He just wasted all his money. 🖕
We need some states that don’t enter the experiment, just in case we find out it was a bad idea in a few generations.
Oh man I read that as Ken Griffey Jr and was very confused as to why he cared about legalization in Florida
floridas medical marijuanna system is crooked and controlled by corporate pot growers like trulieve who profit from keeping rec illegal so hes prob on their payroll
He is taking heat in Florida for moving here and then spending a bunch to make it how he wants it. It’s not wise to piss off Florida man.
Why not fight child hunger or the thousands of other causes with that 12 million Kenny? I can imagine the memes now when cannabis is federally legalized.