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"While rescheduling has advanced, and if adopted it would mark the largest incremental step forward in federal cannabis reform to date, the fact remains that it is not completed." In late August, Trump departed from his usual stance that cannabis legalization should be left up to each individual state. "The fact that both Republican and Democratic Presidential candidates now support federal cannabis reform increases the probability that federal cannabis legalization is simply a matter of time," said Bernstein analyst Nadine Sarwat, in a recent note. However, while candidate support has boosted the market, Bernstein also noted that growth has been stagnant in the category as it faces macro headwinds. "Despite all the headlines regarding potential federal reform, state-level sales performance is sobering," Sarwat said.

Persons: Kamala Harris, aren't, Harris, Harris's, Jason Wild, Biden, Brady Cobb, Cobb, Emily Paxhia, Donald Trump's, Trump, Bernstein, Nadine Sarwat, Sarwat Organizations: White, Democratic, Toronto Stock Exchange, Drug Enforcement Administration, Poseidon Investment Management, Cannabis ETF, Republican, Democratic Presidential Locations: Washington ,, United States, Florida

☆ 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

☆ Cannabis 'legalization is inevitable,' says policy analyst—what to know before you invest
▼ + stars: | 2023-11-28 | by ( Ryan Ermey | ) www.cnbc.com time to read: +5 min

Cannabis stocks aren't the only ones that were riding high in early 2021. Those changes have yet to come on a federal level, and dimming enthusiasm from investors, among other factors, has led to a major slide in pot stocks. The AdvisorShares Pure US Cannabis ETF, which holds U.S.-based cannabis companies, currently trades for $6.80 a share, down from nearly $52 in February 2021. But for experts in the space, the question surrounding cannabis legalization (and a subsequent boom in the industry) isn't if, but when. "Legalization of cannabis is inevitable," says Jaret Seiberg, a policy analyst at TD Cowen.

Persons: Jaret Seiberg, Cowen, Brady Cobb, Mike Johnson's ascendency, Johnson, Cobb, Joe Biden, Jason Wild Organizations: Democratic, Cannabis ETF, Department of Health, Human Services, Bloomberg, HHS, Drug Enforcement Agency, JW Asset Management Locations: Ohio, Massachusetts

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 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

☆ Pot stocks jump as federal agency reportedly seeks to downgrade cannabis from the hard-drug category
▼ + stars: | 2023-08-30 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

The Drug Enforcement Agency received an official recommendation to downgrade marijuana. Currently, pot is classified as a Schedule I drug, on par with heroin. Marijuana's category downgrade would be a serious shift for the cannabis industry, easing restrictions on its use. The largest marijuana exchange traded fund, the AdvisorShares Pure US Cannabis ETF, gained around 19%. It was outpaced by the Roundhill Cannabis ETF, at 20%.

Persons: Anne Milgram, Cronos, SNDL Organizations: Drug Enforcement Agency, Service, Bloomberg, Department of Health, Human Services, Drug, DEA, Cannabis ETF, Cannabis, Aurora Cannabis Locations: Wall, Silicon

☆ Poseidon Dynamic Cannabis ETF to close as investors lose interest in marijuana industry
▼ + stars: | 2023-08-15 | by ( Stefan Sykes | ) www.cnbc.com time to read: +2 min

A leading exchange-traded fund in the cannabis space will close up shop as investor interest in the legally restricted industry wanes. AdvisorShares, the largest cannabis fund manager, said its Poseidon Dynamic Cannabis ETF will see its final day of trading Aug. 25. The closure comes as investors lose interest in the quasi-legal cannabis industry that has struggled to scale. Meanwhile, Pure US Cannabis ETF , another fund in the industry by AdvisorShares, plummeted about 60% during the same period. Mastercard, in a move that further alienates the cannabis industry from big banking, announced last month it will stop allowing cannabis transactions on its debit cards to be in compliance with federal law.

Persons: Emily, Morgan Paxhia Organizations: Florida Supreme, New York Stock Exchange, CNBC, Poseidon Investment Management, US Cannabis ETF, AdvisorShares, Cresco Labs, Columbia Care, Mastercard Locations: Florida, U.S

☆ 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.

☆ 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.

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