One day after the September Tuesday’s presidential debate, industry experts will break down the cannabis rescheduling process, a crucial issue for investors. Equity research firm Z&A is hosting a webinar on Wednesday at 4:20 PM ET to provide insights into the upcoming regulatory shifts and market implications.
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DEA's Rescheduling Process
The conversation comes at a pivotal moment following the end of the public comment period for the DEA to reschedule cannabis from Schedule I to Schedule III. Proposed by the Department of Justice on May 21 2024, the move was met with positive responses, as 75.9% of over 4,000 public comments analyzed by Benzinga Cannabis showed support for rescheduling, mainly due to the medical benefits and alignment with state laws.
DEA Rescheduling Delay
On August 27, 2024, the DEA announced a delay in its final ruling until after the November election.
This triggered sharp declines in cannabis stocks, with the AdvisorShares Pure US Cannabis ETF MSOS dropping over 10%. Major players like Curaleaf Holdings CURLF, Cresco Labs CRLBF, and Cansortium CNTMF saw stock prices plunge by as much as 16%.
Investor's Angle: Upcoming Panel Post-Debate Chaos
If cannabis is reclassified, the industry could see significant changes such as tax reforms, enhanced research opportunities and the development of new regulatory frameworks.
This is where the insights from experts like Kelly Fair and Morgan Fox become crucial. Fair, a partner at Dentons, specializes in regulatory compliance and corporate governance within the cannabis sector. With nearly two decades of experience, she will provide in-depth perspectives on the technical aspects of the rescheduling process, the role of the DEA and possible legal outcomes.
Meanwhile, Fox, the political director at NORML, will focus on the political landscape. With over 15 years of experience in cannabis policy reform, Fox will explain why descheduling remains the ultimate goal and how rescheduling fits into the bigger picture of cannabis reform.
Co-hosted by senior analyst Pablo Zuanic from Zuanic & Associates, and Anthony Coniglio, CEO of NewLake Capital Partners NLCP, the panel promises to shed light on the future of cannabis regulation, particularly in light of the September 10th presidential debate.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Cannabis rescheduling seems to be right around the corner
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