Cannabis Stocks Plummet By Up To 16% On DEA Rescheduling Delay: Could This Be The Buying Opportunity Of 2024?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 27 2024
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Source: Benzinga
DEA Decision and Market Impact: The DEA has delayed its final ruling on cannabis rescheduling until after the November presidential election, causing significant market declines for cannabis stocks, with major companies like Curaleaf and Cresco Labs experiencing substantial losses.
Analyst Insights and Future Risks: Analyst Pablo Zuanic suggests that while there are potential buying opportunities amid the volatility, political uncertainty surrounding the upcoming election could further affect cannabis stock prices, especially if the MSOS ETF drops significantly.
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.
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Current: 4.620
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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.
