Canadian cannabis stocks soared Tuesday afternoon after The Associated Press reported the U.S. Drug Enforcement Agency will move to reclassify marijuana as a less dangerous drug.
The Associated Press, citing five sources familiar with the matter, reported the DEA’s proposal would recognize the medical uses of cannabis and acknowledge it has less potential for abuse than other, more dangerous drugs.Currently, marijuana is listed as a Schedule I drug in the U.S., alongside heroin and LSD, but would be reclassified as a Schedule III drug, alongside ketamine and some anabolic steroids.
and potentially improve investor appetite for cannabis stocks. Study and track financial data on any traded entity: click to open the full quote page. Data updated as of The BoC is ‘far more optimistic than us’: TD’s Beata Caranci on where economic growth, interest rates, real estate and stocks are headingThis dividend growth stock has returned 22% annually over the past 15 years - and now’s the time to buy it
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