MSOS: Cannabis Investors Should Be Careful With This ETF

AdvisorShares Pure US Cannabis ETF remains a Strong Sell due to extreme concentration in three names and excessive volatility. Potential cannabis rescheduling could eliminate 280E taxation, boosting net income for operators, but risks remain if the process stalls or fails. MSOS trades at a 7.5x 2026 EV/adj. EBITDA, but this metric understates risk by excluding large tax liabilities, especially for CURLF and TCNNF.