TCNNF - Federal Agency Gives Green Light: How Relaxed Marijuana Laws Could Boost U.S. Stocks | Benzinga
The weekend was abuzz with anticipation after the HHS recommended to reschedule cannabis last Wednesday. While The Morning After echoed what some of us shared in real-time, the holiday respite allowed those possibilities to marinade far and wide.
The back-of-the-envelope analyst math suggests a 2-3X turn for U.S cannabis plant-touching securities and that’s before any short squeezes or animal spirits, the latter of which have been scattered on dawn's highway bleeding, ghosts crowding their young fragile eggshell minds.
For perspective, this news hit 12:11 PM ET on Wednesday and in just 2 1/2 sessions, U.S cannabis ETF MSOS (NYSE: MSOS) AUM increased by $157M, or 33.18% w/ 3.25M share creates valued at $20M. AUM at MSOX (NYSE: MSOX), with is the 2X levered MSOS, increased by $9.6M, or 132.88% and had 740,000 share creates valued at $3M.
All of this during the final days of summer when most folks were paying no mind.
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In today’s column, we’ll walk through our anticipated sequence of catalysts—the 2023 year-end Cannabis Wish List—which may start soon if Senate Majority Leader Chuck Schumer has his way, per his ‘Dear Colleague’ letter that was released on Friday:
In other sector news, Arkansas MMJ sales will likely surpass last year’s record $270M; Western Australia MMJ regulations will be reviewed amid calls for immediate action; the German government anticipates a huge windfall with the legalization of cannabis; the Oklahoma Bureau of Narcotics shut down 800+ illegal cannabis farms the last two years; some studies support the use of cannabis in pediatric cancer; NY had promised to help people with weed convictions but instead, they’re stuck in a legal nightmare; the opioid settlement may spur cannabis as potential new pharmacy revenue stream; Lloyds of London is now lobbying for SAFE Banking; Marijuana was the sixth most valuable wholesale crop in the United States last year at $5 billion, trailing only corn, soybeans, hay, wheat and cotton; half of Americans live in states where weed is legal and we learn how to cope with a bad high.
All this and more, just scroll down…
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