Health Dept Decision To Move Cannabis To Lower-Risk Category: Bull Case Narrative For The Industry
Portfolio Pulse from Nicolás Jose Rodriguez
The Department of Health and Human Services (HHS) has recommended the reclassification of marijuana as a Schedule III drug, which has led to significant market reactions. MSOS ETF (NYSE:MSOS) surged 21%, State House Holdings Inc. (OTC:STHZF) rose by 74%, Columbia Care (OTC:CCHWF) increased by 38%, Jushi (OTC:JUSH) rose by 32%, and Ayr Wellness (OTC:AYRWF) increased by 29%. The reclassification could potentially alleviate certain regulatory burdens, particularly the IRS's 280E tax implications.
August 31, 2023 | 5:45 pm
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POSITIVE IMPACT
Ayr Wellness showed a 29% increase in stock price following the HHS's recommendation.
The reclassification recommendation by the HHS has led to a surge in the stock price of Ayr Wellness.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Columbia Care witnessed a 38% boost in stock price following the HHS's recommendation.
The reclassification recommendation by the HHS has led to a surge in the stock price of Columbia Care.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Jushi saw a 32% rise in stock price following the HHS's recommendation.
The reclassification recommendation by the HHS has led to a surge in the stock price of Jushi.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
MSOS ETF surged 21% following the HHS's recommendation.
The reclassification recommendation by the HHS has led to a surge in the stock price of MSOS ETF.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
State House Holdings Inc. saw a 74% increase in stock price following the HHS's recommendation.
The reclassification recommendation by the HHS has led to a surge in the stock price of State House Holdings Inc.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100