GreenGro Technologies Inc (GRNH)

[dorismd2001]

Investing Impact

From an outsider’s point of view, the DEA’s move could be spun as at least slightly positive.

“We kind of knew that (rescheduling) was not going to happen, and that this was just a lot of headlines and press releases and stories,” said Avis Bulbulyan, the CEO of California-based Bulbulyan Consulting Group.

But here’s what it did do over the past couple of months: “It got a lot of investors interested,” said Bulbulyan. “It’s going to encourage a lot more money to come into the industry.”

Matt Karnes, the founder of New York-based GreenWave Advisors, analogized the DEA’s announcement to the stock market, and said it probably wouldn’t have much impact on cannabis company valuations. That means the cannabis industry remains ripe for good investments, he said.

“It’s the status quo, from a valuation standpoint,” Karnes said. “Had the DEA rescheduled, or there were some progress, perhaps it could have raised valuations in the sector. So it’s still a good entry point.”


http://mjbizdaily.com/week-review-varied-cannabis-industry-responses-dea-decision/