'Republican Representative David Joyce To Introduce Cannabis Legalization Bill' - Forbes
Portfolio Pulse from Benzinga Newsdesk
Republican Representative David Joyce is set to introduce the STATES 2.0 Act, which aims to de-schedule state-legal cannabis at the federal level. This legislative move could significantly impact the legal landscape for cannabis businesses in the United States.
December 06, 2023 | 7:46 pm
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POSITIVE IMPACT
Aurora Cannabis Inc. could benefit from the STATES 2.0 Act as federal de-scheduling may ease regulatory burdens and expand market opportunities.
As a company in the cannabis industry, Aurora Cannabis stands to gain from reduced federal restrictions, which could lead to increased market access and reduced legal risks.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Canopy Growth Corporation may see positive short-term impact if the STATES 2.0 Act passes, due to potential federal de-scheduling of cannabis.
Canopy Growth, as a major player in the cannabis sector, could benefit from a more favorable legal environment and the possibility of expanded operations in the U.S.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
The ETFMG Alternative Harvest ETF, which tracks cannabis stocks, could experience a positive impact from the STATES 2.0 Act, as the industry may face fewer legal hurdles.
As an ETF focused on the cannabis industry, MJ's performance is closely tied to the legal status of cannabis. The STATES 2.0 Act could lead to broader investment appeal and growth in the sector.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
AdvisorShares Pure US Cannabis ETF could see its holdings appreciate if the STATES 2.0 Act passes, potentially easing federal restrictions on cannabis.
MSOS, which invests in U.S. cannabis companies, could see an increase in the value of its holdings as the industry potentially gains from a more supportive federal legal framework.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90