Tim Seymour Explains FDA Cannabis Concerns

In our latest Trade To Black podcast, we welcome a special guest. TV personality Tim Seymour, host of CNBC’s Fast Money and the CIO of Seymour Asset Management, gives us some of the Washington DC inside scoop as we discuss the HHS recommendation on cannabis.

This summer, following the questioning of Matt Gaetz on the Biden Administration’s drug classification list, one of the top officials at the Department of Health and Human Services wrote to Drug Enforcement Agency administrator Anne Milgram at the end of August. The letter called for marijuana to be reclassified as a Schedule III drug under the Controlled Substances Act.

Seymour explains FDA’s role in rescheduling and gives his thoughts on that role and concerns around the handling of CBD. Highlighting the feedback he received from lobbyists and insiders in DC, Seymour goes on to describe how these entities previously dismissed the notion of safe banking and state banks for the cannabis industry but have suggested that FDA regulation, with THC following behind CBD, may be the only acceptable path forward. He also emphasized complexity that arises when multiple government agencies get involved, delaying the financial impact on companies in the sector.

In his interview, Tim Seymour expresses his belief that cannabis should have been rescheduled long ago and touched upon misperceptions surrounding the plant’s potential. Don’t miss out on this discussion about being an emerging market investor, and the defining moments important to take note of for any prospective trading.

There’s good and bad – and growing pains – to be expected in any emerging industry. Last week’s exciting rally of cannabis stocks after the earlier half of this year point out that there could still be many opportunities ahead. Tune in to learn more of Seymour’s thoughts on the European market, how the cannabis industry is performing for institutions, and how to trade the excesses!