Institutional investors are increasingly bullish on U.S. cannabis multistate operators, according to a new survey, which suggests marijuana rescheduling by the federal government could convince those big investors to put new money into MSOs.
The group’s sentiment is “more bullish than it was six months ago, mostly because of (the prospect of) rescheduling,” said Frederico Gomes, a cannabis equity analyst with Calgary, Alberta-based ATB Capital Markets and lead author of the report, which surveyed 23 institutional investors between Oct. 23 and Oct. 27.
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However, Gomes added, “capital has not really followed that bullish sentiment yet, at least not from an institutional investor perspective.”
Gomes said the group of institutional investors polled by ATB consisted of mostly hedge funds.
Roughly 61% of the group expected that U.S. multistate operators in the cannabis space will beat the S&P 500 over the next year.
The respondents also saw a
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