Cannabis Stocks Shine As Benzinga's Cannabis Capital Conference Unfolds

Cannabis stocks fell in early trading before heating up Tuesday afternoon. Some of the upward momentum may be a result of executive commentary from the Benzinga Cannabis Capital Conference.

Lighting Up The Cannabis Space: Several big names in the cannabis space took the stage Tuesday at Benzinga’s Cannabis Capital Conference in Hollywood, Florida, the leading cannabis investment and branding conference in North America.

Curaleaf Hldgs Inc CURLF chairman Boris Jordan told the crowd that potential adult-use legalization in Florida isn’t the only catalyst ahead. He’s already positioning the company for similar regulation changes in other states. Curaleaf shares gained nearly 4% on Tuesday, leading the way for cannabis stocks.

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Jordan also noted that Curaleaf is seeing positive trends following cannabis legalization in Germany. In the first two weeks that cannabis was removed from the narcotics lists, there has been a five-fold increase in patients approaching telemedicine platforms, he said, suggesting cannabis demand is rising quickly.

Boris spoke around 2 p.m. ET. Curaleaf stock continued to move higher and hit the highs for the day following his appearance. Several other cannabis stocks drifted higher Tuesday afternoon.

As previously reported by Benzinga, former Congress members suggested Tuesday that regulatory changes could be coming soon that would benefit the cannabis industry as a whole. The AdvisorShares Pure US Cannabis ETF MSOS reached its lows of the day just before the former legislators took the stage at the Benzinga conference.

Tim Seymour’s Amplify Seymour Cannabis ETF CNBS also trended higher throughout the afternoon. Seymour moderated a panel Tuesday morning that focused on cannabis valuations and investing strategies.

Benzinga’s Cannabis Capital Conference continues through Wednesday. Check out this page for more information on upcoming speakers.

Want to watch our Cannabis Capital Conference live? For existing subscribers, you can get direct access. For new users, you can get instant access here!

Cannabis Stocks Price Action: Curaleaf stock closed Tuesday up 3.31% at $4.99, according to Benzinga Pro. The AdvisorShares and Amplify Seymour Cannabis ETFs both fell in early trading before climbing back and closing the day roughly flat.

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Photo: CRYSTALWEED from Unsplash.