Shares of cannabis stocks are trading higher following a report suggesting the HHS has called for moving marijuana to a lower-risk drug category.
Portfolio Pulse from Benzinga Newsdesk
Cannabis stocks are trading higher following a report that the Health and Human Services (HHS) has suggested moving marijuana to a lower-risk drug category. This could potentially ease restrictions and boost the cannabis industry.
August 30, 2023 | 4:30 pm
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POSITIVE IMPACT
Aurora Cannabis (ACB) shares are likely to rise in the short term due to the potential reclassification of marijuana.
The reclassification of marijuana to a lower-risk category could ease restrictions and boost the cannabis industry, potentially increasing the value of Aurora Cannabis shares.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Canopy Growth Corporation (CGC) shares are likely to increase in the short term due to the potential reclassification of marijuana.
The reclassification of marijuana to a lower-risk category could ease restrictions and boost the cannabis industry, potentially increasing the value of Canopy Growth Corporation shares.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Tilray (TLRY) shares are likely to rise in the short term due to the potential reclassification of marijuana.
The reclassification of marijuana to a lower-risk category could ease restrictions and boost the cannabis industry, potentially increasing the value of Tilray shares.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80