Safe Harbor Financial's Dan Roda Says 2023 First Year Fewer Cannabis Business Licenses Active In Outstanding At End Of Year; Beginning OF Year Proceeding Years As New States Went Online; Reduction In New States Launching New Cannabis Programs; Seeing Maturation In Market; These Factors Have Economic Impact
Portfolio Pulse from Benzinga Newsdesk
Dan Roda from Safe Harbor Financial notes that 2023 marks the first year with fewer active cannabis business licenses by year-end compared to the start. This is due to fewer new states launching cannabis programs, indicating market maturation and economic impacts.
October 08, 2024 | 3:49 pm
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NEUTRAL IMPACT
The decline in active cannabis business licenses and fewer new states launching programs could impact MSOS, an ETF focused on the U.S. cannabis sector, as it indicates market maturation and potential economic impacts.
MSOS, being an ETF focused on the U.S. cannabis sector, is likely to be affected by the reduction in new cannabis business licenses and fewer states launching new programs. This suggests a maturing market, which could stabilize or slow growth, impacting the ETF's performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80