Tesla Investor Ross Gerber Calls On DEA To Reschedule Cannabis: 'Absurd We're Still Waiting'
Portfolio Pulse from Maureen Meehan
Ross Gerber, Tesla investor and CEO of Gerber Kawasaki Wealth and Investment Management, is advocating for the DEA to reschedule cannabis, highlighting the absurdity of the delay. He remains bullish on cannabis stocks, citing strong sales and cash flow for companies like Green Thumb, TerrAscend, and Trulieve. A recent report supports his view, showing significant EBITDA upside for Green Thumb and a market cap increase for Trulieve. The potential repeal of IRS tax code 280E could further benefit these companies by reducing their effective tax rates.
December 28, 2023 | 2:23 am
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
TerrAscend is recognized by Ross Gerber as part of the cannabis industry with strong sales, but the article does not provide specific financial data to assess its short-term stock impact.
Although Gerber is bullish on the cannabis industry and mentions TerrAscend positively, the lack of specific financial data in the article makes it difficult to predict the short-term impact on the stock.
CONFIDENCE 50
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Ross Gerber, a prominent Tesla investor, is calling for cannabis rescheduling, which could indirectly affect investor sentiment towards Tesla if his influence is considered substantial.
While Gerber's comments are primarily focused on the cannabis industry, his status as a Tesla investor could have a minor indirect impact on Tesla's stock as it reflects his investment strategies and market influence.
CONFIDENCE 60
IMPORTANCE 10
RELEVANCE 20
POSITIVE IMPACT
Green Thumb Industries is highlighted by Ross Gerber for its strong EBITDA upside, which could positively influence investor sentiment in the short term.
Gerber's bullish stance on Green Thumb, coupled with the recent report showing significant EBITDA upside, is likely to be viewed positively by investors and could lead to a short-term increase in stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Trulieve Cannabis Corp is mentioned by Ross Gerber as a strong business with great cash flow, which could boost investor confidence and stock price in the short term.
The positive mention of Trulieve's financial performance by Gerber, along with the report of a market cap increase, may lead to increased investor confidence and a potential uptick in the stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80