John Sullivan Says Passing Full-Cannabis Legalization Is Major Piece Of Legislation; Sen. Schumer Submitting CAOA Again This Year; Cannabis Beneficial To Society; President Is Reluctant Cannabis Person But Has Asked HHS, FDA And DEA To Look At Cannabis; We Have Momentum
Portfolio Pulse from Benzinga Newsdesk
John Sullivan emphasized the importance of passing full-cannabis legalization as a significant legislative move. Sen. Schumer plans to submit the Cannabis Administration and Opportunity Act (CAOA) again this year, highlighting cannabis's societal benefits. Despite the President's reluctance towards cannabis, he has directed the HHS, FDA, and DEA to review cannabis-related policies, indicating momentum towards legalization.
April 16, 2024 | 3:03 pm
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POSITIVE IMPACT
Cresco Labs stands to benefit from the momentum towards full-cannabis legalization and the submission of the CAOA, indicating potential growth opportunities.
As a major player in the cannabis industry, Cresco Labs is likely to experience positive impacts from legislative advancements towards cannabis legalization, such as increased market opportunities and potentially favorable regulatory changes.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
The AdvisorShares Pure US Cannabis ETF could see positive movement with the renewed push for cannabis legalization and regulatory reviews, reflecting broader industry growth.
MSOS, which tracks US cannabis companies, is likely to benefit from the overall positive sentiment and legislative progress towards cannabis legalization, driving growth in the sector and potentially increasing the ETF's value.
CONFIDENCE 65
IMPORTANCE 70
RELEVANCE 70