MSOS - Cannabis Continues Powering To Big Gains With Historic DEA Rescheduling
2024-05-03 23:43:06 ET
Summary
- The proposed rescheduling of cannabis is the biggest step forward for the industry in decades.
- Most cannabis companies will see immediate financial and operational benefits from rescheduling.
- A long-term horizon focusing on the stronger US cannabis operators will reward investors.
This week the Associated Press reported that the US Drug Enforcement Administration will reschedule cannabis from a Schedule 1 drug to Schedule 3. Without exaggeration, this is the most important development in the US for cannabis in recorded history. Investors recognized the importance of the reports, and many cannabis stocks made a one day jump of 25% to 50%. Some of that was given back the next day, but multi-month uptrend is still intact. Cannabis has been in a bull market since last August, with a solid trend of higher highs and higher lows that has driven share prices higher. The Advisorshares Pure US Cannabis ETF ( MSOS ) is a good proxy for larger US cannabis companies. MSOS is up 72% over the last 12 months....
Cannabis Continues Powering To Big Gains With Historic DEA Rescheduling