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Canadian pot stocks climb on reports that U.S. may ease cannabis restrictions

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TORONTO — Embattled Canadian cannabis stocks have been climbing on the hope that the U.S. may ease restrictions on the substance. The Associated Press reported that the U.S.

TORONTO — Embattled Canadian cannabis stocks have been climbing on the hope that the U.S. may ease restrictions on the substance.

The Associated Press reported that the U.S. health department has recommended marijuana be moved from a schedule one to a schedule three controlled substance. U.S. Senate leaders hailed the recommendation Wednesday as a first step toward easing federal restrictions on cannabis. Shares in Canopy Growth Corp. were up almost 36 per cent around noon Thursday, after climbing nine per cent Wednesday.

Tilray Brands Inc. shares were up almost 12 per cent, after its stock rose more than 10 per cent Wednesday.This report by The Canadian Press was first published Aug. 31, 2023.

 

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