Aleksandr_Kravtsov/iStock via Getty Images Cannabis can one day become an industry with a $200B market capitalization, but taking a longer-term perspective will be the key, former Cantor Fitzgerald analyst Pablo Zuanic said during Seeking Alpha’s inaugural investing summit on Tuesday. His comments coincide with a recent decline in cannabis stocks as initial market interest over a potential marijuana rescheduling decision from the U.S.
Drug Enforcement Administration (DEA) wanes. AdvisorShares Pure US Cannabis ETF ( NYSEARCA: MSOS ), which represents U.S.
multi-state operators, and other cannabis-related ETFs such as AdvisorShares Pure Cannabis ( NYSEARCA: YOLO ), ETFMG Alternative Harvest ETF ( NYSEARCA: MJ ), and Amplify Seymour Cannabis ETF ( NYSEARCA: CNBS ) have all sold off sharply over the past few weeks. “This is a very volatile sector,” said Zuanic, who currently serves as a managing partner of cannabis consulting firm Zuanic & Associates. “I do care about fundamentals,” even as we look at a more macro outlook for the cannabis sector over a much more extended period, he said, adding, “I believe one day this is a $200B market cap industry.
” In late April, cannabis stocks rallied after media reports indicated that the DEA was set to reclassify marijuana from a high-risk category to a low-risk category known as Schedule III, where medications such as ketamine are categorized under the Controlled Substances Act (CSA). The decision, currently being subject to.