David Mangone [On Rescheduling] Says The Rescheduling Rule Got 43,000 Public Comments; Shows Meaningful Opportunities To Engage In DC; Comment Period Closed Back In July; Sept. 30th Deacline To Request Hearing Before Administrative Law Judge In Dec.; We Don't Know Who Is Participating In Hearing Yet; We Will Probably Hear 30 Days Before Who Is Participating
Portfolio Pulse from Benzinga Newsdesk
The rescheduling rule received 43,000 public comments, indicating significant public interest. The comment period ended in July, and the deadline to request a hearing before an Administrative Law Judge is September 30th. Participants in the hearing will likely be announced 30 days prior.
October 08, 2024 | 4:24 pm
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POSITIVE IMPACT
The rescheduling rule's public interest and upcoming hearing could impact cannabis-related ETFs like MSOS, as regulatory changes may affect the cannabis market.
The large number of public comments and the upcoming hearing suggest potential regulatory changes in the cannabis sector, which could positively impact MSOS if the changes are favorable.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
While the rescheduling rule is significant, its direct impact on SPY is limited unless broader market trends are influenced by regulatory changes in the cannabis sector.
SPY is a broad market ETF, and while cannabis regulation changes could affect specific sectors, the direct impact on SPY is minimal unless it triggers wider market movements.
CONFIDENCE 70
IMPORTANCE 20
RELEVANCE 20