‘Opaque Political Processes,’ DEA Rescheduling Deadline, And Now A New Presidential Candidate, It’s No Wonder Cannabis Stocks Are Over The Place
The cannabis market saw a surge that waned by Friday, with the AdvisorShares Pure US Cannabis ETF (NYSE:MSOS) falling by 2.50% over the week, and the Global X Cannabis ETF (NYSE:YOLO) dropping 1.73%.
Ascend’s Financial Restructuring
One notable bright spot was Ascend Wellness Holdings (OTC:AAWH), which experienced a robust rally of 12.18% following the announcement of its debt refinancing plan.
See Also: Cannabis Stocks Surge Then Plummet On News That Biden Is Bowing Out Of 2024 Presidential Race
Jesse Redmond, an analyst from Water Tower Research, reported: “Ascend announced on Monday it successfully refinanced its debt. The new senior secured notes were priced at 94.75% of face value, have a 12.7% interest rate, and are due in 2029.”
He added that “the net …