Blank Rome Co-chair, Cannabis Practice Frank Segall Says Rescheduling Will Attract New Capital; We All Know Sector Went Up 37% And Now Stocks Are Below Where They Were At The Time; We're Looking At Several Years Away; Dealing With Oversaturation, Lack Of Investor Capital
Portfolio Pulse from Benzinga Newsdesk
Frank Segall, co-chair of Blank Rome's Cannabis Practice, discusses the potential impact of rescheduling cannabis on attracting new capital. Despite a 37% rise in the sector, stocks are now below previous levels due to oversaturation and lack of investor capital. The sector may take several years to recover.
October 08, 2024 | 5:06 pm
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NEUTRAL IMPACT
MSOS, a cannabis ETF, is affected by the sector's oversaturation and lack of investor capital. Despite a 37% rise, stocks are below previous levels. Rescheduling could attract new capital, but recovery may take years.
MSOS is directly impacted by the cannabis sector's current challenges. The potential for rescheduling to attract new capital is a positive, but the timeline for recovery is uncertain, leading to a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80