U.S. cannabis stocks finished out the week in positive territory on Friday after favorable developments on a number of fronts as well as bullish sentiment from institutional investors.
Rivers told analysts the company is hopeful that the Florida judges will “ignore the political rhetoric, stick to the law and give Floridians the opportunity to vote on this important initiative.” With the addition of Ohio, more than half of the U.S. population now resides in states where adult-use cannabis is legal.
Meanwhile, the Drug Enforcement Administration is currently reviewing a recommendation from the U.S. Department of Health and Human Services to reschedule cannabis. U.S. Attorney General Merrick Garland has also said he’s working on an update of the Cole memo, a measure that prevents federal law-enforcement agencies from cracking down on state-legal cannabis companies. The memo was rescinded during the Trump administration.