U.S. Cannabis: Growth At A Reasonable Price?
Portfolio Pulse from Todd Harrison
The article discusses the current state and potential growth of the U.S. cannabis industry, highlighting the challenges such as taxation and stock custody issues. It mentions the sequential growth of TerrAscend and the resolution of a lawsuit in New York that could expedite the opening of new dispensaries. The New Jersey cannabis market is approaching $1 billion in sales, and Ohio is discussing marijuana legalization law amendments. A survey suggests cannabis is preferred over other sleep aids. The U.S. hemp industry's future hinges on the Farm Bill extension. Cannabis stocks showed volatility, with MSOS experiencing a significant rally. The article also touches on international developments in cannabis legalization and the need for policy change at the federal level.
November 15, 2023 | 3:16 pm
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POSITIVE IMPACT
Cannabist Company Holdings Inc (OTC:CBSTF) was mentioned as a pure trade opportunity after a forced liquidation, with the stock having quadrupled from recent lows. The article suggests a cautious approach due to excessive share-based compensation.
The mention of CBSTF as a trading opportunity due to its recent price action and the context of industry growth could attract investor interest, potentially impacting its short-term price positively. However, the cautionary note on compensation practices tempers the potential impact.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
AdvisorShares Pure US Cannabis ETF (NYSE:MSOS) experienced a significant rally, with a 43% increase from the end of October to the date of the article. The ETF's ability to maintain gains above the 200-day moving average is seen as a positive sign.
The positive performance of MSOS, as highlighted in the article, suggests investor optimism in the cannabis sector. The ETF's ability to stay above the 200-day moving average could indicate a bullish trend, likely leading to a positive short-term impact on its price.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
AdvisorShares MSOS 2x Daily ETF (NYSE:MSOX) was mentioned for reaching its 200-day moving average, indicating a potential trading signal for investors.
The article's mention of MSOX reaching a technical milestone could influence investor perception and trading behavior, potentially leading to a positive short-term price movement as traders may view this as a bullish signal.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70