Cantor Fitzgerald said Friday it will no longer provide research coverage of 23 cannabis stocks because analyst Pablo Zuanic has departed the firm. Zuanic is now head of Zuanic & Associates, a consulting and research firm aimed at the cannabis sector, according to his LinkedIn profile and a website for the firm. Cantor Fitzgerald said analyst Brett Knoblauch is now covering MDMA researcher WM Technology Inc. MAPS, but it’s dropping coverage of Cresco Labs CRLBF, Curaleaf Holdings CURLF, Green Thumb Industries GTBIF, Trulieve Cannabis TCNNF, Verano Holdings VRNOF, Tilray Inc. TLRY, TerrAscend TRSSF, Ascend Wellness AYRWF, Canopy Growth Corp. CGC and others. Zuanic & Associates did not immediately reply to an email. The AdvisorShares Pure U.S. Cannabis ETF MSOS is down nearly 20% in 2023 and down 63.5% in the past 12 months, compared to a 16.9% year-to-date gain and a loss of 0.8% in the past 12 months for the Nasdaq COMP.
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