Marijuana-related ETF’s are trading higher in September after HHS recommended that the U.S. reclassify and ease restrictions on marijuana.
Marijuana equities have suffered in recent years, as many investors pull away from the industry, leading to a capital crunch. Even as 39 states have legalized marijuana for recreational or medical use, the sector has struggled because the Schedule I classification and federal prohibition have limited access to financing and a broader market.last month. The fund's last day of trading was Aug. 25. On Sept. 1, it liquidated assets and paid out its shareholders.
"Each time legislation like the Safe Banking Act has been presented, we've seen a corresponding uptick in investor interest," said Sundie Seefried, the CEO of Safe Harbor Financial, a digital-first, commercial banking institution."This milestone could be a turning point, offering the much-needed stability in the regulatory environment that investors have long sought."
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