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Cannabis Stocks Are Moving Higher
Brian Bolan is always looking for what is moving and why and today is focusing on Marijuana. The Department of Health and Human Services formally recommended that cannabis be moved from the Schedule I of the Controlled Substances Act.
This is a big step towards legalization and could also remove the state by state treatment of the product.
Brian highlights the AdvisorShares Pure Cannabis ETF (YOLO - Free Report) and give a quick commentary around the idea behind the ticker symbol.
Most people that follow the space are dialed in on Tilray Brands (TLRY - Free Report) which stands as a Zacks Rank #3 (Hold). Brian notes the stock is has a great growth divergence with an F as is Zacks Style Score for value and an A for the Zacks Style Score for Growth.
Zacks Marijuana Innovators headed by Ben Rains added Tilray Brands (TLRY - Free Report) to his portfolio on August 29 ahead of this big move higher. Ben looks for the best stocks in the space and has been able to leverage his industry knowledge with the Zacks Rank to find some of the best stocks in the space.