Curaleaf Executive Chairman of the Board Boris Jordan Says Impact Of Elimination Of 280e On Curaleaf Benefit Is Roughly $150 Million Direct Cash To The Bottom Line
Portfolio Pulse from Benzinga Newsdesk
Curaleaf's Executive Chairman, Boris Jordan, stated that the elimination of 280e would result in a direct cash benefit of approximately $150 million to the company's bottom line.
September 28, 2023 | 6:15 pm
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POSITIVE IMPACT
The elimination of 280e could significantly boost Curaleaf's bottom line by approximately $150 million.
The elimination of 280e, a tax code that prevents cannabis companies from deducting ordinary business expenses, would result in a significant increase in Curaleaf's net income. This could potentially lead to a positive impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
As an ETF that tracks the performance of US-listed cannabis companies, MSOS could indirectly benefit from the elimination of 280e.
MSOS, an ETF that tracks the performance of US-listed cannabis companies, could see a positive impact if the elimination of 280e leads to improved financial performance among its holdings, such as Curaleaf. This could potentially lead to a positive impact on the ETF's price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60