HomeBusinessCannabis ETFs rise after HHS recommendation to reschedule marijuana

Cannabis ETFs rise after HHS recommendation to reschedule marijuana

An employee of Aurora Deutschland GmbH, a manufacturer of medical Cannabis products, inspects a flowering Cannabis plant in a greenhouse in Leuna, Germany September 11, 2023. 

Lisi Niesner | Reuters

Marijuana-related ETFs are soaring in September as investors flood back into the sector after months of waning interest.

The upswing in the funds, the most significant seen in recent years, stems from last month’s recommendation by the U.S. Department of Health and Human Services to ease restrictions on marijuana after a review of its classification under the Controlled Substances Act.

It marked a swift turnaround for a quasi-legal industry curtailed by the anemic pace of federal reform. The spike caps several quarters of slow growth, and even losses, for some funds.

ETFMG Alternative Harvest (MJ) and AdvisorShares Pure US Cannabis (MSOS) in particular are vastly outperforming the Dow and S&P…

Read more at www.cnbc.com

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