In this episode of ETF Spotlight, I speak with Tim Seymour, founder and CIO of Seymour Asset Management and co-host of CNBC’s Fast Money, about broader markets and cannabis investing.
Cannabis stocks soared late last month after the Department of Health and Human Services asked the DEA to review its classification of cannabis. It is currently a Schedule I drug, along with heroin and LSD. The new designation would put it in the same group as anabolic steroids, testosterone, and ketamine.
Industry participants and investors were earlier hopeful for a more rapid path to full federal legalization, but not much progress has been made so far.
Late last week, it was reported that the Senate banking committee is expected to hold a markup session for the SAFE Banking Act, which would allow cannabis companies to use major financial and banking institutions.
We also discuss the investment case for cannabis, as its acceptance, use, and sales are rising steadily since states continue to remove restrictions on its use.
The Amplify Seymour Cannabis ETF CNBS is actively managed by Tim, who has been an early-stage investor and industry expert. Green Thumb Industries Inc. GTBIF, Curaleaf Holdings CURLF and Tilray TLRY are its top holdings.
Tune in to the podcast to learn more.
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Tilray Brands, Inc. (TLRY): Free Stock Analysis Report
This article originally appeared on Zacks
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