Tim Seymour, portfolio manager of the $CNBS Amplify Seymour Cannabis ETF (NYSE: CNBS), is a key voice in the cannabis investment community.
With an insightful understanding of market dynamics, Seymour recently shared his views with Benzinga Cannabis on what truly drives growth in the cannabis industry, emphasizing the significance of state-level legalization over federal rescheduling.
The Real Catalysts: State-Level Legalization
According to Seymour while federal rescheduling of cannabis is a monumental step towards normalization, it is not the primary catalyst for industry growth.
“The real economy in the cannabis sector is driven by businesses that are actively selling products to a growing consumer base, not just by top-down legislative changes,” Seymour explained.
He argued that incremental legalization in states like Pennsylvania and Florida is more impactful, providing a direct boost to the market by expanding consumer access and legal sales frameworks.
Impact Of Rescheduling: A Relative Perspective
While acknowledging the historic nature of federal rescheduling, Seymour relativizes its immediate impact on the industry.
“Rescheduling is significant, but its effect is more gradual and less direct than the day-to-day operations and expansions happening at the state level.”
Seymour suggested that investors should focus more on the dynamics of state markets, where real
