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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 in something else, cannabis.
Yes, today is 4/20 Day, an international celebration characterized by smoking weed (or consuming marijuana edibles, if that’s your style) and centered on the fight to legalize the plant.
In the United States, 24 states have made recreational marijuana legal, and even more states have legalized marijuana for medical purposes. However, cannabis is illegal at the federal level, although the Biden administration and Congress are making efforts to change that.
While most people celebrating 4/20 this year will do so to honor their love of Mary Jane, the cannabis industry will have other reasons to be happy beyond increased sales. The DEA and the Department of Justice are currently reviewing an HHS recommendation to move marijuana from a Schedule I controlled substance — meaning it has no approved medical use and has a high likelihood of abuse — to Schedule III. This would be a first step towards legalization at the federal level.
Additionally, marijuana-related businesses could get a boost if marijuana banking legislation, the SAFER Act, wins approval in both houses of Congress.
As the largest free 4/20 day celebration takes place in Denver, according to organizers of the Mile High 420 Festival, some businesses are also recognizing the day. Here’s a selection of what some of them are doing, as researched by Kyle Jaeger of industry news site Marijuana Moment.
KFC, the fried chicken chain owned by Yum! Marche (NYSE:YUM), posted to X on April 19 advertising his new line of Saucy Nuggets. Although the kibble itself does not contain cannabinoids, the we read in the advertisement“OUR SAUCE TAKES NUGGETS HIGHER – 4.20.24,” a likely reference to the pleasure one feels after a few hits of marijuana.
Ben and Jerry’s, the iconic ice cream brand owned by Unilever (NYSE:UL), issued a press release on April 18 calling for the decriminalization of cannabis, as well as a resounding call from the American Civil Liberties Union for state governors to grant clemency to those convicted of minor drug-related crimes. For 4/20 this year, Ben and Jerry’s said it will focus on the following: “Legalization without justice is half-baked.”
Rockstar Games, whose parent company is Take-Two Interactive Software (NASDAQ: TWO), is offering 420-themed game bonuses for players of its popular video game Grand Theft Auto until April 24.
Popeye’s Louisiana Kitchen, a subsidiary of Restaurant Brands International (QSR), is selling its popular fried chicken sandwich for $4.20 today, but only when ordered through its app.
From April 18 to 21, Wingstop (WING) is offering their Wingstop Hot Box, “featuring their new strain of THC (The Hot Chili) Rub.” In a press release, the company explained that the wings do not contain cannabis, cannabis derivatives, or actual THC.
And if you want something appropriate to drink with your marijuana, look no further than SweetWater Brewing Company’s 420 Extra Pale Ale. Although the beer does not contain cannabis or cannabinoids, the company says the beer was created on April 20th. And SweetWater itself is owned by Tilray Brands (NASDAQ:TLRY), a major cannabis grower 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).