Warning: trim() expects at least 1 parameter, 0 given in /home/customer/www/johnlothiannews.com/public_html/wp-content/themes/Divi/includes/builder/functions.php on line 12283
Cannabis Shares Underperform Going Into Year-End Amid U.S. Regulatory Logjam | John Lothian News

Cannabis Shares Underperform Going Into Year-End Amid U.S. Regulatory Logjam

Suzanne Cosgrove

Suzanne Cosgrove

Editor

Although adult-use sales of cannabis remain robust in U.S. states where it is legal, Nasdaq IR Intelligence analyst Saleem Daya sees continued stock underperformance across the cannabis space going into year-end, building on activity in the second and third quarters of 2021.

In an interview with John Lothian News, Daya notes the benchmark Solactive North American Marijuana Index is about 13% lower this quarter and is down close to 20% year-to-date, a move he attributes to disappointment that the U.S. federal reform that many were hoping for in early 2021 has not taken place and impatience with a regulatory process that remains mired in disagreement over its scope and depth.

Asset flows into major cannabis ETFs, which tend to be top holders across the sector, have fluctuated wildly, Daya says, and more volatility is likely in the year ahead.

 

John Lothian Newsletter

Today’s Newsletter

We visit more than 100 websites daily for financial news (Would YOU do that?)

Now Read This

Vermiculus Chairman Nils-Robert Persson on launching during a pandemic and structuring his company for growth

Vermiculus Chairman Nils-Robert Persson on launching during a pandemic and structuring his company for growth

Nils-Robert Persson, chairman of the board of Vermiculus Financial Technology, had no intention of starting a new company after leaving Cinnober in 2019. What happened is he was asked and he couldn’t refuse. “When some of the best people you have ever worked with, and some of the customers you’re extremely proud of working with, come and ask you to start – it’s easy to start again,” Persson told John Lothian News at FIA Boca 2022.

Pin It on Pinterest

Share This Story