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.
- Click here to get Cannabis Confidential delivered to your inbox daily.
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:
