Cannabis ETF Gains Momentum, Rising Over 8% As DEA Rescheduling Rumors Intensify (UPDATED)
Portfolio Pulse from Maureen Meehan
Cannabis stocks surged following Doug Kass's announcement on X about the DEA's imminent rescheduling of cannabis to Schedule III. The Benzinga Cannabis Capital Conference in Florida will discuss the industry's future, including valuations and investment opportunities. Senator Cory Booker hinted at the rescheduling, potentially around 4/20. Despite recent earnings struggles, the AdvisorShares Pure US Cannabis ETF (MSOS) saw an 8.94% increase.
March 15, 2024 | 2:08 pm
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The AdvisorShares Pure US Cannabis ETF (MSOS) experienced an 8.94% increase following speculation about the DEA's rescheduling of cannabis to Schedule III.
The DEA's potential rescheduling of cannabis to Schedule III has sparked optimism in the cannabis sector, leading to a significant increase in MSOS's value. This ETF, being directly tied to the US cannabis industry, stands to benefit from regulatory changes that could expand the market and reduce legal barriers, thus attracting more investors.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100