Shares of the AdvisorShares Trust AdvisorShares Pure US Cannabis ETF are trading higher after Senate Majority Leader Schumer reportedly said he is confident the marijuana banking bill will pass.
Portfolio Pulse from Benzinga Newsdesk
AdvisorShares Pure US Cannabis ETF (MSOS) shares are trading higher after Senate Majority Leader Schumer expressed confidence in the marijuana banking bill passing.
June 21, 2023 | 2:46 pm
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MSOS shares are trading higher due to Senate Majority Leader Schumer's confidence in the marijuana banking bill passing.
The marijuana banking bill, if passed, would provide a significant boost to the cannabis industry in the US. Senate Majority Leader Schumer's confidence in the bill passing has a direct positive impact on MSOS, as it is a US-focused cannabis ETF. This news increases investor confidence in the sector, leading to a higher trading price for MSOS shares.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100