"Marijuana 'Not As Dangerous' As Previously Thought, Biden Campaign Says As It Promotes Pardons And Rescheduling In New Ads" - Marijuana Moment
Portfolio Pulse from Benzinga Newsdesk
The Biden campaign is emphasizing its marijuana reform policies, highlighting the rescheduling of cannabis from Schedule I to Schedule III and promoting mass marijuana pardons. The campaign contrasts Biden's approach with former President Trump's, criticizing Trump's marijuana policies and lack of reform. The Biden administration's actions are framed as significant federal reforms aimed at correcting historical injustices and facilitating more research into marijuana's medical benefits.
June 27, 2024 | 3:08 pm
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POSITIVE IMPACT
The Biden campaign's push for marijuana reform, including rescheduling cannabis to Schedule III, is likely to positively impact the ETFMG Alternative Harvest ETF (MJ), which focuses on the cannabis industry.
The Biden administration's actions to reschedule marijuana and promote cannabis reform are likely to benefit companies within the cannabis industry, which are part of the MJ ETF. This regulatory change could lead to increased investment and growth in the sector.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
The AdvisorShares Pure US Cannabis ETF (MSOS) is expected to benefit from the Biden administration's marijuana reform policies, including the rescheduling of cannabis to Schedule III.
The rescheduling of marijuana to Schedule III and the promotion of cannabis reform by the Biden administration are likely to enhance the growth prospects of US-based cannabis companies, which are included in the MSOS ETF.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
The broader market, represented by the SPDR S&P 500 ETF Trust (SPY), may see a neutral to slightly positive impact from the Biden administration's marijuana reform policies.
While the marijuana reform policies are significant for the cannabis sector, their direct impact on the broader market represented by SPY is likely to be limited. However, positive sentiment around regulatory reforms could have a slight positive effect.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50