Why Elon Musk could use some weed right now

In a recent interview with the New York Times, Tesla’s Elon Musk clarified that his August 7 tweet about taking his company private had nothing to do with cannabis. In the tweet, Musk said he would like to buy his company stock back for $420 a share. Some people speculated the price-per-share referenced the famous number 420 in cannabis culture.

Musk tweeted “Am considering taking Tesla private at $420. Funding secured.”

Am considering taking Tesla private at $420. Funding secured.

— Elon Musk (@elonmusk) August 7, 2018

 

When the news went public, it led to a rally in Tesla stock, and controversy that Musk may be trying to raise the value of the shares for his own benefit. Trading of the shares was suspended by Nasdaq, and the SEC initiated an investigation.

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Musk said he picked the number because it was approximately a 20 percent premium over what the stock was currently trading and that it had nothing to do with marijuana. “It seemed like better karma at $420 than at $419,” he said in the interview. “But I was not on weed, to be clear. Weed is not helpful for productivity. There’s a reason for the word ‘stoned.’ You just sit there like a stone on weed.”

Investor support is confirmed. Only reason why this is not certain is that it’s contingent on a shareholder vote. https://t.co/bIH4Td5fED

— Elon Musk (@elonmusk) August 7, 2018

 

A quick lesson for Elon

Of course, plenty of people would argue that productivity comes in droves when they use cannabis. Still, other may tout the medical benefits of Cannabis sativa.

What are the differences between medical and recreational marijuana? Besides the obvious —medical marijuana is primarily used for health purposes, and recreational marijuana is for personal use —there are other differences in how they’re sold, how they’re used, and how they’re perceived in society. And there are reasons for both medical marijuana and recreational marijuana legalization as well.

When purchasing medical and recreational marijuana, the shopping experience and selection are both similar. Both offer a wide array of strains, edibles, drinkables, vaporizers, concentrates, and more. Medical dispensaries, however, require a medical marijuana card and can dispense medical advice. Some dispensaries are considered ‘duel licensed’ and can sell medical and recreational marijuana. Likewise, for the patient, there are benefits to having a medical marijuana card in a fully legalized state.

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At dispensaries, product selection is similar. However medical patients may receive certain benefits over recreational consumers, including higher THC potency limits, lower costs, higher quantity restrictions, and legal access for minors for approved medical conditions. Recreational dispensaries are always 21 and up.

Finally, there’s the social perception of medical and recreational marijuana. Although a majority of American support legalized marijuana, more support medical marijuana than do recreational. Public perception continues to change, however, and it looks like Musk has a lot to learn.

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