Renowned cannabis investors Brett Finkelstein (Skyvest Partners and Phyto Partners,) Morgan Paxhia (Poseidon Investment Management) and David Kram (Spring Leaf Capital) gathered at Benzinga’s Cannabis Capital Conference in Chicago this past September.
Led by David Feldman of Skip Intro Advisors as moderator, below is a peak at what these industry titans had to say about ongoing and possible regulatory changes.
Schedule III
All four agreed that the possibility of cannabis being moved to Schedule 3 is the biggest news in the past 10 years. ”If it happens, and it happens in the way we want it to happen,” Paxhia said. But there is still a lot of work to do.
“It's a big win for us obviously, but I think the industry needs this to show the outsiders that we're not all crazy and why are we sticking to this thing: there are real companies with real growth,” added Finkelstein, who remains “cautiously optimistic” facing cannabis stocks and moves at the federal level affecting issues like access to capital and safe banking.
Although “getting rid of 280E is going to be the real game changer for these stocks to have real follow through, and then we could have a more normalized market in the industry to become a real asset class, maybe not even correlated to the broader markets,” Finkelstein said.