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AdvisorShares Pure US Cannabis ETF
MSOSFinancial ServicesAMEXUS
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The cannabis sector continues to attract investors seeking long-term growth opportunities in 2026. Although volatility remains high, many marijuana companies are improving operations and cutting costs. At the same time, investors continue watching potential federal reform closely. Rescheduling discussions and banking reform could become major catalysts for the industry.
Recent news of marijuana's reclassification is just the first step of many, according to Dan Ahrens of AdvisorShares. Dan talks about the catalysts he sees this summer and the upside he expects to see in marijuana-tied stocks.
Medical marijuana's US reclassification revives cannabis ETFs like WEED, with tax relief and reform hopes fueling sharp gains across the sector.
For marijuana stock investors, the way the industry as a whole progresses determines a great deal for them. For example, no one wants to invest in a struggling industry even if it's been trendy along the way. Now, cannabis has fallen to that path, but it's also what's making this industry one of the hottest sectors in the last 5 years. Legal cannabis has been a long uphill battle in every sense. Legislation and regulatory issues remain the biggest challenges.
Federal cannabis policy moved from theory to action this spring, and three ETFs sit closest to the trade.
After amassing enormous losses over the past five years, cannabis stocks received a much-needed shot in the arm last week when President Donald Trump announced plans to officially reschedule marijuana from Schedule I to Schedule III under the Controlled Substances Act (CSA).
Cannabis stocks have seen renewed investor interest as federal policy momentum improves. The most important recent development was the placement of FDA-approved marijuana products and state-regulated medical marijuana products from Schedule I to Schedule III under the Controlled Substances Act.
Companies developing cannabis-based medicines say U.S. moves to loosen restrictions on the drug could unlock private funding and the public markets, providing a lifeline to the struggling cannabis industry.
Top Performing Leveraged/Inverse ETFs Last Week These were last week's top performing leveraged and inverse ETFs. Note that because of leverage, these kinds of funds can move quickly.
The U.S. cannabis sector continues showing strong long-term growth potential in 2026. The legal market continues to expand across multiple states. In fact, the industry is projected to grow significantly over the next decade. Additionally, more states continue moving toward legalization in some form.
Cannabis, semis, crude & hydrogen ETFs led last week as AI momentum, policy boost and Middle East tensions shaped market trends.
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Gradual easing of restrictions on marijuana continues.
The Trump administration also announced the beginning of an expedited administrative hearing process to consider the rescheduling marijuana more broadly.
Cannabis ETFs entered 2026 after multiple fund closures, stalled federal reform, and a prolonged multi‑year drawdown in underlying equities.
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.
I am upgrading the AdvisorShares Pure US Cannabis ETF to a buy rating due to imminent regulatory catalysts. Potential cannabis rescheduling to Schedule III would eliminate 280e taxes, materially boosting MSO profitability and enabling re-ratings. MSOS offers concentrated exposure to leading U.S. multi-state operators, trading at attractive mid-single-digit EBITDA multiples.
NewLake Capital Partners, Inc. (NLCP) offers defensiveness and a 12% dividend yield, outperforming MSOS over the past three years. MSOS, an ETF heavily concentrated in top cannabis stocks, remains exposed to industry-wide oversupply, margin pressure, and bankruptcy risk. NLCP's low debt, resilient rent collections, and ability to replace tenants provide downside protection absent in MSOS.
I reiterate a Buy rating on AdvisorShares Pure US Cannabis ETF, emphasizing its compelling risk-return profile despite recent volatility. MSOS trades at 1.7x sales, below its historical average of 2x, offering a 17.6% upside to a $4.45 target if multiples revert. Regulatory progress is slow but ongoing; reclassification appears a matter of 'when,' not 'if,' with catalysts tied to legislative and credit access developments.
Retail investors in r/options are making an unusual bet on AdvisorShares Pure US Cannabis ETF ( NYSEARCA:MSOS ), and the activity is hard to ignore.
