DIRS.INFO The most relevant business & tech news

☆ Stocks making the biggest moves midday: Palantir Technologies, Summit Therapeutics, JetBlue Airways and more
▼ + stars: | 2024-09-09 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in midday trading: Palantir Technologies , Dell Technologies — Palantir and Dell jumped 14% and nearly 4%, respectively, following the announcement after the bell Friday that both stocks would join the S & P 500 before the open on Sept. 23. Palantir is set to take American Airlines' spot, while Dell is going to replace Etsy. JetBlue Airways — The airline stock popped around 7% after Bank of America analyst Andrew Didora upgraded the firm to neutral from underperform. Cannabis stocks — Cannabis stocks moved higher after former President Donald Trump said in a Truth Social post that he will support legalizing adult marijuana use in Florida. A logo outside the Palantir Technologies pavilion ahead of the World Economic Forum in Davos, Switzerland, on Jan. 15, 2024.

Persons: Dell, Merck's, Andrew Didora, Didora, Arm's, Donald Trump, —, Alex Harring, Hakyung Kim, Yun Li, Jesse Pound, Michelle Fox, Stefan Wermuth Organizations: Palantir Technologies, Dell Technologies, American Airlines, Etsy, Therapeutics, Merck, JetBlue Airways —, Bank of America, JetBlue, Boeing, Citi, Federal Reserve, Arm Holdings, Financial, Apple, Monday, United States Steel, JPMorgan, Nippon Steel, Tilray Brands, Cannabis ETF, Economic, Bloomberg, Getty Locations: Florida, Davos, Switzerland

☆ Cannabis stocks surge as Biden administration moves to reclassify marijuana
▼ + stars: | 2024-04-30 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +1 min

Trade Roots, a Wareham-based Cannabis dispensary grows cannabis plants for making CBD with THC in their greenhouse, and manufactures CBD products for sale in their shop and distribution to buyers. Cannabis stocks leapt on Tuesday afternoon, buoyed by a Biden administration decision to ease federal restrictions on marijuana. The U.S. Drug Enforcement Administration is expected to approve an opinion by the Department of Health and Human Services to reclassify marijuana as a Schedule III substance, NBC News reported, citing four sources with knowledge of the decision. Marijuana has been labeled a Schedule I substance for more than 50 years, the same as methamphetamine and heroin. Investors in cannabis stocks cheered the move, with the AdvisorShares Pure US Cannabis ETF (MSOS ) surging nearly 20% in afternoon trading.

Organizations: U.S . Drug, Department of Health, Human Services, NBC News, Marijuana, Drugs, Cannabis ETF Locations: Wareham, U.S

☆ This volatile ETF not for the faint-hearted might be breaking out, according to the charts
▼ + stars: | 2024-02-07 | by ( Frank Cappelleri | ) www.cnbc.com time to read: +4 min

An ETF that's down 80% from its all-time high or one that is up 110% from its all-time low? Both of these outlandish percent moves describe the AdvisorShares Pure US Cannabis ETF (MSOS) , which is down 80% from its February '21 high and now up 110% from its October '23 low. The only discernable point here is the spike in early February'21, which lined up exactly with the ETF's all-time high. The ETF had flirted with piercing this line before – most recently this past fall - but each attempt failed before 2024. Any index, ETF or stock that's in a long-term uptrend is trading above an upward sloping 200-day moving average.

Persons: Hope, we're, MSOS, Frank Cappelleri Organizations: Cannabis ETF

REUTERS/Erica Dischino/ File Photo Acquire Licensing RightsSept 27 (Reuters) - A U.S. Senate committee on Wednesday voted to advance a marijuana banking bill, raising hopes for the cash-dependent cannabis sector to get access to regular banking services. The Secure and Fair Enforcement Regulation Banking Act (SAFER) bill, introduced by a bipartisan group of senators last week, will now move to the Senate floor. Shares of SNDL (SNDL.O), Trulieve Cannabis (TRUL.CD), Cronos Group (CRON.TO), rose between 1% and 3% following the vote. An earlier version of the bill, the SAFE Banking Act, had failed to secure a Senate vote despite the House of Representatives passing it seven times. "Realizing this first vote out of the Senate signals strong bipartisan support from both chambers of Congress," said Trulieve CEO Kim Rivers.

Persons: Erica Dischino, Kim Rivers, Arunima Kumar, Sourasis Bose, Sriraj Organizations: Red, REUTERS, U.S, Cronos, Cannabis ETF, Holdings, SAFE, U.S . Department of Health, Human Services, Drug Enforcement Agency, Thomson Locations: Red Lake, Red Lake , Minnesota, U.S, Bengaluru

In volatile trading, the U.S.-listed shares of several cannabis firms rose immediately after the Senate vote. Investors expected it to exit the banking committee. An earlier version of the bill, the SAFE Banking Act, had failed to secure a Senate vote despite being passed seven times by the U.S House of Representatives. As a result, legal cannabis companies are denied access to financial services. To get it through the Senate banking committee is a major achievement," Boris Jordan, billionaire founder of Curaleaf Holdings, said in an interview.

Persons: Chris Wattie, Jesse Redmond, Redmond, We've, it's, Boris Jordan, Jordan, Chibuike Oguh, Suzanne McGee, Michelle Price, Lance Tupper, Bill Berkrot Organizations: Canopy Growth Corporation, REUTERS, U.S, U.S . Senate, Aurora, Cronos, SNDL Inc, Curaleaf Holdings, Tilray, Cannabis ETF, Cannabis, Tower Research, Investors, SAFE, Thomson Locations: Smiths Falls , Ontario, Canada, U.S, New York, Bengaluru

☆ Cannabis ETFs boom as HHS recommendation to ease restrictions raises hopes for federal reform
▼ + stars: | 2023-09-12 | by ( Stefan Sykes | ) www.cnbc.com time to read: +2 min

An employee of Aurora Deutschland GmbH, a manufacturer of medical Cannabis products, inspects a flowering Cannabis plant in a greenhouse in Leuna, Germany September 11, 2023. Marijuana-related ETFs are soaring in September as investors flood back into the sector after months of waning interest. It marked a swift turnaround for a quasi-legal industry curtailed by the anemic pace of federal reform. Last month's announcement also sent shares of several cannabis companies higher, including Canopy Growth, Tilray Brands and Cronos Group. At the time of the closure announcement, fund co-founder Morgan Paxhia told CNBC that it was not "immune to the broader macroeconomic environment and, more specifically, the dramatic shift in investor sentiment that has impacted the cannabis industry."

Persons: Canaccord, Matt Bottomley, Morgan Paxhia Organizations: Aurora Deutschland GmbH, U.S . Department of Health, Human Services, Dow Jones Industrial, Dow, Tilray Brands, Cronos Group, Marijuana, CNBC Locations: Leuna, Germany

☆ Cannabis ETFs are off to a strong September. Will the buzz last?
▼ + stars: | 2023-09-09 | by ( Kevin Schmidt | ) www.cnbc.com time to read: +3 min

"We've seen most cannabis ETFs rally over 30% since the news broke last week on this recommendation," Amplify ETFs CEO Christian Magoon told CNBC's Courtney Reagan on "ETF Edge" on Wednesday. The Roundhill Cannabis ETF (WEED) has soared nearly 71% since the announcement, while the AdvisorShares Pure US Cannabis ETF (MSOS ) and AdvisorShares Pure Cannabis ETF (YOLO) have jumped 64% and 45%, respectively. "Consumer packaged goods and pharmaceutical companies are going to be able to now look at these cannabis companies as M&A targets to partner with them." "The great thing about the ETF industry is there's a lot of opportunity," Lydon said in the same interview on Wednesday. Lydon pointed out that Amplify ETFs holds a great "first mover advantage" with its pair of cannabis-based funds.

Persons: Christian Magoon, CNBC's Courtney Reagan, Magoon, marijuana's, Tom Lydon, Lydon Organizations: Cannabis ETF, U.S . Department of Health, Human Services, HHS, DEA, Cannabis, VettaFi Locations: YOLO

☆ Cannabis ETFs are catching fire in September
▼ + stars: | 2023-09-08 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

The volatile cannabis sector is on the upswing in September, boosting a group of exchange-traded funds that have largely struggled over the past two years as legalization of marijuana in the U.S. remains in limbo. The AdvisorShares Pure US Cannabis ETF (MSOS) has jumped 18% in the first four trading days of the month, building on a rally that began in late August. Smaller funds such as the Roundhill Cannabis ETF (WEED) and the ETFMG U.S. MSOS 1M mountain Weed stocks are surging in September, as shown by the MSOS ETF. The struggles for marijuana ETFs have extended beyond price movements, as cannabis remains illegal at the federal level.

Organizations: Cannabis ETF, Cannabis, Thumb Industries, Politico Locations: U.S, Washington

☆ Pot firms surge as US move to ease curbs sparks hopes of legalization
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +2 min

Shares of cannabis firms Cronos Group (CRON.TO), OrganiGram Holdings (OGI.TO), Aurora Cannabis (ACB.TO), Canopy Growth (WEED.TO) jumped between 6% and 25%. Verano Holdings (VRNO.CD), Green Thumb Industries (GTII.CD), Cresco Labs (CL.CD) and Curaleaf Holdings (CURA.CD) and Goodness Growth (GDNS.CD) rose between 15% and 37%. "Certainly moving cannabis off of Schedule 1 is the right decision and long overdue. The firm held investments in cannabis retailer and producer Green Thumb, and cannabis data platform Flowhub, according to its website. Reporting by Arunima Kumar in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: cagey, Ty Collin, Patrick Rea, Green, Arunima Kumar, Sriraj Organizations: Cronos Group, OrganiGram Holdings, Verano Holdings, Green Thumb Industries, Cresco Labs, Curaleaf Holdings, Cannabis ETF, U.S . Department of Health, Human Services, Drug Enforcement Agency, Banking, Poseidon Garden Ventures, Thomson Locations: U.S, Aurora, Bengaluru

☆ See the first 36 groups that won coveted licenses to sell recreational cannabis in New York, including Housing Works and The Doe Fund
▼ + stars: | 2022-11-21 | by ( Jeremy Berke | ) www.businessinsider.com time to read: +4 min

New York regulators announced the first 36 groups who'll be able to sell cannabis in the state. The 36 licensees include 28 groups of "justice-involved" individuals, who have been convicted of prior cannabis-related offenses in New York state and also have experience running profitable businesses. Wright has repeatedly said that cannabis sales would begin in New York before the end of the year. That means companies are unable to own both a cultivation facility and a retail store, unlike in some other states with legal cannabis markets. The regulations also outline different license types to be awarded in the future, including supply-side licenses, microbusinesses, and retail stores.

☆ These ETFs can help round out your midterm election investing playbook
▼ + stars: | 2022-11-08 | by ( Jesse Pound | ) www.cnbc.com time to read: +4 min

Even if the election results match expectations, stocks may still rally as some unknowns are removed. Broad sector ETFs from firms like iShares, State Street and Vanguard are one way to play these sectors, offering cheap broad exposure. For example, the Industrial Select Sector SPDR ETF (XLI) and Vanguard Communications Services ETF (VOX) both have an expense ratio of 0.10%. Under-the-radar elections Federal elections are not the only contests on Tuesday that could move stocks. The biggest marijuana ETFs — AdvisorShares Pure US Cannabis ETF (MSOS) and ETFMG Alternative Harvest ETF (MJ) — are each down more than 50% for the year.

☆ How the U.S. midterms could ripple through the stock market
▼ + stars: | 2022-11-07 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

Regardless of the winner, past midterm elections have ushered in a period of positive market performance, something investors would welcome after a year in which the S&P 500 has declined by nearly 21%. The S&P 500 aerospace and defense index (.SPLRCAED) is up nearly 10% this year. HEALTHCAREPharmaceutical and biotech stocks may benefit in a Republican victory, after Democrats recently pushed through a law aimed at lowering prescription drug prices. The S&P 500 healthcare sector (.SPXHC) is down some 7% in 2022, while the S&P 500 pharmaceuticals index (.SPLRCCARG) is up about 1%. Therefore Republican victory in the House or Senate "probably means a legislative standstill, implying an incremental positive for the category," the said.

☆ Biden's surprise move to reclassify cannabis could supercharge legal weed — but it also carries big risks for companies and investors
▼ + stars: | 2022-10-07 | by ( Jeremy Berke | ) www.businessinsider.com time to read: +7 min

He announced pardons for federal cannabis possession and ordered a review of how cannabis is scheduled. While Biden's announcement stopped far short of decriminalization, he outlined three key steps:He's pardoning people federally convicted of simple cannabis possession. Biden's announcement signals that his administration — quiet on cannabis until now — will finally push for federal cannabis reform. Stifel analyst Andrew Partheniou called Biden's announcement "the most important development in US cannabis history," in a Friday morning note. If the government decides to regulate cannabis like a pharmaceutical, that could undermine the recreational cannabis industry as it currently stands.

☆ How the founders of hot cannabis-beverage startup Cann quietly raised millions from big-name investors amid the industry's downturn
▼ + stars: | 2022-10-04 | by ( Jeremy Berke | ) www.businessinsider.com time to read: +7 min

Cann's cofounders shared their vision for competing with the biggest alcohol brands. Cann is InvestBev's first foray into cannabis beverages, Brian Rosen, an InvestBev partner, told Insider in an interview. He said his firm was looking to make an investment in cannabis beverages, and Cann stood out to him. The future of cannabis beverages will be challenging, founders sayTo be sure, cannabis beverages face challenges. Big alcohol brands have made their own bets on cannabis beverages, without much to show so far.

☆ Cannabis companies are reeling from the market downturn, and they're slashing jobs and reining in spending to survive
▼ + stars: | 2022-09-19 | by ( Jeremy Berke | ) www.businessinsider.com time to read: +5 min

Cannabis companies from startups to public giants are laying off employees as sales slow. The cannabis industry is in a full-on downturn. Cannabis companies also don't have access to much of the nuts-and-bolts of the banking system like their non-cannabis counterparts. Investment into cannabis companies has dried upThe spigot has slowed to a trickle on the once-plentiful venture-capital and private-equity firehose of investment into cannabis startups. Hauser said that capital for cannabis companies is only getting more expensive and more elusive.

☆ Cannabis giant Curaleaf cut sales staff and will close a facility in Sacramento as troubles mount for California's pot industry
▼ + stars: | 2022-08-31 | by ( Jeremy Berke | ) www.businessinsider.com time to read: +2 min

Curaleaf is cutting about 50 jobs and will close a facility in Sacramento, Insider learned. The job cuts come as legal cannabis sales slow in California's competitive market. Curaleaf, which cultivates and sells cannabis in multiple US states, notified California sales staff of layoffs on August 9, and plans to shutter its Sacramento facility, the company told Insider. The sales staff were all working remotely, and the Sacramento facility will wind down operations by the end of the year, the company said. Earlier this month in New York, Curaleaf pulled thousands of cannabis products from medical dispensary shelves after a NY Cannabis Insider investigation found that the potency was mislabeled.

☆ Hedge-fund billionaire Leon Cooperman slams cannabis company Green Thumb Industries and accuses it of insider selling in a testy exchange
▼ + stars: | 2022-05-06 | by ( Jeremy Berke | ) www.businessinsider.com time to read: +4 min

Leon Cooperman ripped into Green Thumb Industries executives and accused them of insider selling. Green Thumb Industries' stock is down by 47% since January 1. During Green Thumb Industries' investor call on Wednesday evening, the hedge-fund billionaire Leon Cooperman ripped into the Chicago cannabis giant's CEO, Ben Kovler, over what Cooperman said was rampant insider selling by the company's executives. "I currently remain the largest shareholder in Green Thumb, and management continues to believe in the $75 billion to $100 billion opportunity ahead for both Green Thumb and the industry at large." Despite mixed results in the quarter, analysts are optimistic about Green Thumb Industries' long-term growth prospects.

☆ If you want to get paid a six-figure salary in the cannabis industry, these are the 9 companies you should work for
▼ + stars: | 2022-03-17 | by ( Jeremy Berke | Yeji Jesse Lee | ) www.businessinsider.com time to read: +3 min

Salaries are skyrocketing at the biggest cannabis companies, according to recruiting startup Vangst. These nine cannabis companies are offering six-figure salaries in multiple states. The cannabis industry is expected to add over 100,000 jobs in the US alone this year, according to Vangst. And if you want to land a six-figure job in the cannabis industry, Vangst has identified 18 roles where job seekers can make over $100,000 a year. Unlike in past years, more employers are looking for people with specific cannabis industry experience because the industry has now been legal for nearly a decade in some states, she said.

☆ These are the 18 hottest jobs where you can take home a six-figure paycheck in the booming cannabis industry
▼ + stars: | 2022-03-09 | by ( Jeremy Berke | Yeji Jesse Lee | ) www.businessinsider.com time to read: +2 min

Senior-level salaries in the cannabis industry are soaring as the industry matures, according to cannabis recruiting startup Vangst's 2021 salary guide. Humiston said that cannabis salaries have edged upward year-over-year, especially as the industry emerges from the economic downturn associated with the coronavirus pandemic. Unlike in past years, more employers are looking for people with specific cannabis industry experience because the industry has now been legal for nearly a decade in some states, she said. Overall, the cannabis industry added 107,000 new jobs in the US last year as more states opened their doors to legal cannabis, according to a report from the cannabis information site Leafly. If you're looking for a job in the cannabis industry, check out these roles listed from lowest to highest salary:

Search resuls for: "MSOS"

19 mentions found