Blank Rome Co-chair, Cannabis Practice Frank Segall Says Rescheduling Will Not Bring Wells Fargo Into The Industry, Won't Bring Premier Private Equity Firms Into The Federal; They Mandate Legalization
Portfolio Pulse from Benzinga Newsdesk
Frank Segall, co-chair of Blank Rome's Cannabis Practice, stated that rescheduling cannabis will not attract major financial institutions like Wells Fargo or premier private equity firms into the industry. These entities require full legalization to participate.
October 08, 2024 | 5:10 pm
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NEUTRAL IMPACT
The statement by Frank Segall suggests that rescheduling cannabis will not lead to significant investment from major financial institutions or private equity firms, which could limit the short-term growth potential for cannabis-focused ETFs like MSOS.
MSOS, being a cannabis-focused ETF, could be impacted by the lack of investment from major financial institutions due to the absence of full legalization. However, the rescheduling alone does not change the investment landscape significantly.
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