Federal Jobs Would No Longer Be Off-Limits For Marijuana Users Under New Bipartisan Push
Portfolio Pulse from Jelena Martinovic
A bipartisan bill titled 'Cannabis Users' Restoration of Eligibility (CURE) Act' has been introduced in Congress, aiming to end the disqualification of federal job applicants or those seeking security clearance due to past or present cannabis use. The bill is backed by several organizations including the Drug Policy Alliance, the Due Process Institute, the Law Enforcement Action Partnership (LEAP), the National Organization for the Reform of Marijuana Laws (NORML), and the US Cannabis Council. The price action of several cannabis-related ETFs is also mentioned.
July 28, 2023 | 2:22 pm
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POSITIVE IMPACT
The Amplify Seymour Cannabis ETF (CNBS) is up 1.18%.
The proposed policy change could potentially increase the demand for cannabis, which could have a positive impact on cannabis-related ETFs in the long term. The immediate impact is positive.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
The Global X Cannabis ETF (POTX) is up 1.23%.
The proposed policy change could potentially increase the demand for cannabis, which could have a positive impact on cannabis-related ETFs in the long term. The immediate impact is positive.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
The AXS Cannabis ETF (THCX) is up 1.11%.
The proposed policy change could potentially increase the demand for cannabis, which could have a positive impact on cannabis-related ETFs in the long term. The immediate impact is positive.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
The ETFMG Alternative Harvest (MJ) is down 0.68%.
The proposed policy change could potentially increase the demand for cannabis, which could have a positive impact on cannabis-related ETFs in the long term. However, the immediate impact is negative.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
The Cambria Cannabis ETF (TOKE) is down 0.25%.
The proposed policy change could potentially increase the demand for cannabis, which could have a positive impact on cannabis-related ETFs in the long term. However, the immediate impact is negative.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
The AdvisorShares Pure Cannabis ETF (YOLO) is down 0.78%.
The proposed policy change could potentially increase the demand for cannabis, which could have a positive impact on cannabis-related ETFs in the long term. However, the immediate impact is negative.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100