August's Top-Performing ETF Is Marijuana-Related: Relaxed Federal Cannabis Laws Coming?

The AdvisorShares Pure US Cannabis ETF MSOS surged by more than 14% on Thursday as the whole cannabis sector experienced a boost of enthusiasm on news that the Department of Health and Human Services was officially directing the DEA to ease the onerous federal restrictions on cannabis and move it to a lower-risk category. 

See Also: Health Officials To DEA: Ease Federal Restrictions On Cannabis - Will This Set Stage For Legalization?

Leading The Pack

By the end of the day Thursday, MSOS was in the number-one spot for top-performing ETFs for the month of August, having gained more than 20% over the month.

Scott Redler, chief strategist T3Live/T3TradingGroup, pointed out that amid the red, the MSOS cannabis ETF looked wonderful in green.

lots of red in August - $MSOS woke up and took the lead pic.twitter.com/RvzRGV9f66

— Scott Redler (@RedDogT3) August 31, 2023

Some of Thursday's biggest winners include:

Trulieve Cannabis TCNNF shares closed up 29.61% at $5.69

Cresco Labs CRLBF shares closed up 27.42% at $1.58

MedMen Enterprises MMNFF shares closed up 26.29% at $0.02

Canopy Growth CGC shares closed up 25.76% at $0.57

C21 Investments CXXIF shares closed up 25.08% at $0.32

Curaleaf Holdings CURLF shares closed up 17.61% at $3.74

Tilray Brands TLRY shares closed up 11.28% at $2.96

Wild Ride

Keep up with how these shifting cannabis policy reforms will affect marijuana stocks.

To stay on top of the future of cannabis regulation, meet the CEOs of some of the above companies and speak with experts on how to invest wisely in this dynamic sector. Join us at the Benzinga Cannabis Capital Conference in Chicago on September 27-28.

Get your tickets today before prices go up and secure a spot at the epicenter of cannabis investment, culture, finance and branding.