Hey folks!
Here we are. One week left to get this done.
The good news is that C-218 was picked up in Thursday's session, and the most threatening amendment proposal, related to game fixing, was voted down with a majority. The bill is now in mid-completion in the Senate, which means that one, they will likely get to it and two, they will not need as much time to go through it when it hits the floor again. Also good news is that they have added an additional day tomorrow (Monday) to debate, and there seems to be a light agenda. This sets the stage for final approval of C-218 by the end of the week.
The not-so-good news is that there is an amendment still in front of us at this point. The Kahanawake are NOT happy that they will be losing their monopoly in Canada, and have been putting up a fight through the process. (URL: https://twitter.com/MCKahnawake/status/1405990929828388866) The good news is that they have not been getting much support at all in relation to their cause, but it hasn't stopped a suggestion of an amendment in their favour. The amendment was tabled in last week's session, but it was not debated. Most coverage of this and social feedback has been negative, acknowledging the request but positioning it as an attempt to delay, block, or kill the bill through the cover of "making it fair". No comment on the legitimacy of this claim, but the amendment request is likely to fail.
As for the bill? The first amendment was voted down with a majority, so it does signal overall support, but I can't say for sure that it's a done deal. However, as a signal, the House of Commons voted for the bill with around a 90% majority.
As for price action, there was definitely a run-up on Thursday in anticipation of the success of the measure, then a sell-off on Friday when it didn't pass. The run-up may occur again, albeit with more instability due to the final hour nature of the bill. Overall, it is expected that the price of SCR and related stocks will rise as the market opens up over time, hopefully by the Fall. A good time to participate, nonetheless. Good luck out there!
Submitted June 21, 2021 at 01:04AM by amckechn https://ift.tt/3zJoALN
