DEA's Call For Public Input On Cannabis Garnered 42,000 Comments: Majority Want Total Legalization Or Rescheduling
Portfolio Pulse from Nina Zdinjak
The DEA's call for public input on cannabis rescheduling received over 42,000 comments, with the majority supporting either rescheduling or full descheduling of cannabis. This significant public engagement highlights the importance of the issue. The potential rescheduling could benefit cannabis businesses by providing tax relief and adding jobs. The response of cannabis stocks, particularly ETFs like MSOS and YOLO, will be closely monitored.
July 24, 2024 | 1:34 pm
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POSITIVE IMPACT
The AdvisorShares Pure US Cannabis ETF (MSOS) may see positive short-term impact due to the overwhelming public support for cannabis rescheduling or descheduling.
The significant public support for cannabis rescheduling or descheduling suggests a favorable regulatory environment, which could benefit cannabis-related stocks like MSOS.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The AdvisorShares Pure Cannabis ETF (YOLO) is likely to experience a positive short-term impact due to the strong public support for changes in cannabis regulation.
The overwhelming public support for cannabis rescheduling or descheduling indicates a potential positive shift in the regulatory landscape, which could favorably impact cannabis-related ETFs like YOLO.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80