Marijuana Stocks 2023: 3 Cannabis Names You’ll Regret Not Buying Now
Thursday, 21 September 2023, 16:11:02
Cannabis stocks soared as rescheduling news made waves this month. The Department of Health and Human Services recommended moving the plant from Schedule I to III. Rescheduling opens new vistas for the cannabis industry, including much-needed tax advantages. Likewise, congressional researchers affirmed last week that the Drug Enforcement Agency will likely follow the rescheduling recommendation. Of course, we’ve been on the cusp of legalization for years. Cannabis companies had their heyday in the late 2010s. That’s evident from the cannabis-based fund Alternative Harvest ETF (NYSEARCA: MJ ) peaking at $40 per share in 2018. Today, it trades 90% below that high at a paltry $4 per share. Single cannabis stocks followed the trend, with many well below past highs and priced in penny stock territory. Still, rescheduling is big news. Only 10% of Americans support cannabis remaining illegal, and the vast majority support recreational use beyond just medical applications. Eventually, winners will dominate the cannabis market – and these three stocks might come out on top.
Weed Stocks Skyrocket, Could There Be More Upside? Analyst Draws Scenarios
Friday, 1 September 2023, 21:49:23
The Department of Health and Human Services (HHS) suggested the DEA reclassify cannabis as a Schedule III controlled substance under federal law. Assistant Secretary for Health Rachel Levine”s letter triggered a much-needed rally in cannabis stocks. In a recent analyst note, a leading cannabis equity research firm, Zuanic & Associates (Z&A) , delved into potential scenarios, after the transcended events. Seeking clarity, cannabis investors are invited to meet Pablo Zuanic , chief analyst at Z&A, at the Benzinga Cannabis Capital Conference in Chicago, September 27-28. Engage in conversations about the potential scenarios in the U.S. cannabis market and gain invaluable insights from a prominent industry analyst. Options And Best-Case Scenarios AdviserShares Pure US Cannabis ETF (ARCA: MSOS) and the ETFMG Alternative Harvest ETF (ARCA: MJUS) surged, accompanied by prominent companies such as Canopy Growth Corporation (NASDAQ: CGC ), Curaleaf Holdings, Inc. (OTC: CURLF ), Tilray, Inc. (NASDAQ: TLRY ), Cresco Labs, Inc. (OTC: CRLBF ), Green Thumb Industries Inc. (OTC: GTBIF ), and Trulieve Cannabis Corp. (OTC: TCNNF ).
: U.S. Dept. of Health and Human Services recommends re-scheduling cannabis, as stocks in the sector rally
Wednesday, 30 August 2023, 18:43:00
The U.S. Department of Health and Human Services is recommending to the U.S. Drug Enforcement Administration that cannabis should be reclassified as a Schedule III controlled substance under U.S. law from Schedule I now, according to a report by Bloomberg. Cannabis stocks are rallying, with the AdviserShares Pure US Cannabis ETF MSOS up by nearly 33%, and the ETFMG Alternative Harvest ETF MJ up by 19.5%. Among individual stocks, Canopy Growth Corp. CGC was up by 18.5%, Curaleaf Holdings CURLF is up by about 17% and Tilray Brands Inc. TLRY was up by 17.5%. Cresco Labs CRLBF is rallying by 30.3%, Green Thumb Industries Inc. GTBIF was up by 19.7% and Trulieve Cannabis TCNNF was up by 17.9%. Spokespeople for Health and Human Services and the DEA did not immediately reply to emails from MarketWatch. In October, 2022, President Joe Biden asked Attorney General Eric Garland and Health and Human Services Secretary Xavier Becerra to start the process of reviewing how marijuana is scheduled under federal law.
: Cannabis stocks stay hot as Senate banking committee schedules hearing
Friday, 5 May 2023, 21:35:00
Cannabis stocks rose Friday in their second day of big gains. The U.S. Senate committee on banking, housing and urban affairs has scheduled a hearing entitled, “Examining Cannabis Banking Challenges of Small Businesses and Workers” on Thursday at 9:45 a.m. in the Dirksen Senate Office Building, according to an announcement. The hearing comes after lawmakers from both chambers filed new versions of the Secure and Fair Enforcement (SAFE) Banking Act. The AdvisorShares Pure U.S. Cannabis ETF MSOS is up 3.2% and the ETFMG Alternative Harvest ETF MJ is ahead by 5.4%. Curaleaf Holdings Inc. CURLF is up by 2.3%, Ascend Wellness Holdings Inc. AAWH is up by 4.9%, Ayr Wellness AYRWF is up by 2%, Cronos Group Inc. CRON is up by 4.7%, Cresco Labs CRLBF is up by 2.5%, Tilray Brands Inc. TLRY is up by 9.1%, Canopy Growth Corp. CGC is up by 6.8%, Verano Holdings Corp. VRNOF is up by 0.3% and Green Thumb Industries Inc. GTBIF is up by 6.6%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move.
Pot stocks rally as lawmakers re-introduce SAFE Banking bill to open up financial system to legal cannabis companies
Thursday, 27 April 2023, 14:07:00
The AdvisorShares Pure U.S. Cannabis ETF is rallying 16.5% and the ETFMG Alternative Harvest ETF is up by 6% after lawmakers late Wednesday re-introduced the…
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