'Newly Elected GOP House Speaker Voted Against Numerous Marijuana Measures, Including Banking, Research And Legalization' - Marijuana Moment
Portfolio Pulse from Benzinga Newsdesk
The newly elected U.S. House Speaker, Rep. Mike Johnson, has a history of voting against marijuana-related measures, including banking, research, and legalization. This could potentially impact the advancement of the Secure and Fair Enforcement Regulation (SAFER) Banking Act, which is currently being worked on by Senate leadership. Johnson's stance on marijuana could also affect the future of cannabis research and legalization efforts.
October 25, 2023 | 7:37 pm
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NEGATIVE IMPACT
The ETF MJ, which tracks the performance of marijuana companies, could be negatively impacted if Johnson's stance on marijuana hinders the advancement of the SAFER Banking Act or other pro-cannabis legislation.
As an ETF that tracks the performance of marijuana companies, MJ's value is closely tied to the regulatory environment for marijuana. If Johnson's stance on marijuana hinders the advancement of pro-cannabis legislation, this could negatively impact the companies that MJ invests in, and by extension, MJ itself.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Tilray, a leading marijuana company, could be negatively impacted if Johnson's stance on marijuana hinders the advancement of the SAFER Banking Act or other pro-cannabis legislation.
As a leading marijuana company, Tilray's business is closely tied to the regulatory environment for marijuana. If Johnson's stance on marijuana hinders the advancement of pro-cannabis legislation, this could negatively impact Tilray's business and stock price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80