How Will HHS Recommendation To The DEA Impact Cannabis Brands? Find Out At This Leading Cannabis Finance Conference
Portfolio Pulse from Joana Scopel
The US Department of Health and Human Services (HHS) is considering reclassifying cannabis from a Schedule I to a Schedule III drug, acknowledging its medicinal benefits and distinguishing it from other substances. This could significantly impact cannabis brands and the industry, including companies like WM Technology, Inc. (NASDAQ: MAPS) and Leafly Holdings Inc. (NASDAQ: LFLY). The move could also result in lower effective tax rates for businesses across the industry due to the expected non-applicability of IRS Code 280E to marijuana businesses.
August 31, 2023 | 1:48 am
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POSITIVE IMPACT
Leafly Holdings Inc. could benefit from the potential reclassification of cannabis, as it could lead to increased acceptance and usage of cannabis, potentially boosting the company's revenues.
The reclassification of cannabis could lead to increased acceptance and usage of cannabis, which could result in higher demand for Leafly Holdings' services, potentially boosting its revenues.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
The potential reclassification of cannabis could positively impact WM Technology, Inc. as it could lead to increased acceptance and usage of cannabis, potentially boosting the company's revenues.
The reclassification of cannabis could lead to increased acceptance and usage of cannabis, which could result in higher demand for WM Technology's services, potentially boosting its revenues.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75