Cannabis Stocks And ETFs Surged On Marijuana Rescheduling News: WTR's Industry Report Analyzes What's Behind The Optimism
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 21 2024
0mins
Source: Benzinga
- DOJ Reclassification of Cannabis: The Department of Justice plans to reclassify cannabis from Schedule I to Schedule III, leading to increased market activities.
- Market Response: Uptick in cannabis market activities seen after the announcement, with AdvisorShares Trust ETFs experiencing gains.
- Industry Insights: CEO of Cresco Labs discusses potential impacts on the industry and highlights focus on cost control.
- Financial Performance: Gold Flora's revenues grew in Q1 2024, but adjusted EBITDA fell short due to higher costs. Trulieve Cannabis leads in revenue and EBITDA growth among MSOs.
- Investor Response: Investors react positively to strong financial performance of top MSOs, with many generating operational cash flow last quarter.
Analyst Views on MSOS
Wall Street analysts forecast MSOS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for MSOS is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Analyst Rating
0 Buy
0 Hold
0 Sell
Current: 4.620
Low
Averages
High
Current: 4.620
Low
Averages
High
No data
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
