Shares of cannabis stocks are trading higher after the HHS called for moving marijuana to a lower-risk drug category.
Portfolio Pulse from Bill Haddad
Cannabis stocks are trading higher following the Health and Human Services' (HHS) call to reclassify marijuana as a lower-risk drug. This includes stocks such as ACB, AKAN, CGC, CRON, GRWG, IGC, IMCC, KERN, LFLY, SNDL, and TLRY.
August 31, 2023 | 2:22 pm
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POSITIVE IMPACT
Aurora Cannabis (ACB) stock is trading higher following the HHS's call to reclassify marijuana.
The HHS's call to reclassify marijuana as a lower-risk drug is a positive development for cannabis companies like Aurora Cannabis. This could potentially lead to increased sales and profitability, which is likely driving the stock price higher.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Akanda Corp. (AKAN) stock is trading higher following the HHS's call to reclassify marijuana.
The HHS's call to reclassify marijuana as a lower-risk drug is a positive development for cannabis companies like Akanda Corp. This could potentially lead to increased sales and profitability, which is likely driving the stock price higher.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Canopy Growth Corporation (CGC) stock is trading higher following the HHS's call to reclassify marijuana.
The HHS's call to reclassify marijuana as a lower-risk drug is a positive development for cannabis companies like Canopy Growth Corporation. This could potentially lead to increased sales and profitability, which is likely driving the stock price higher.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Cronos Group Inc. (CRON) stock is trading higher following the HHS's call to reclassify marijuana.
The HHS's call to reclassify marijuana as a lower-risk drug is a positive development for cannabis companies like Cronos Group Inc. This could potentially lead to increased sales and profitability, which is likely driving the stock price higher.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
GrowGeneration Corp. (GRWG) stock is trading higher following the HHS's call to reclassify marijuana.
The HHS's call to reclassify marijuana as a lower-risk drug is a positive development for cannabis companies like GrowGeneration Corp. This could potentially lead to increased sales and profitability, which is likely driving the stock price higher.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
India Globalization Capital, Inc. (IGC) stock is trading higher following the HHS's call to reclassify marijuana.
The HHS's call to reclassify marijuana as a lower-risk drug is a positive development for cannabis companies like India Globalization Capital, Inc. This could potentially lead to increased sales and profitability, which is likely driving the stock price higher.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
IM Cannabis Corp. (IMCC) stock is trading higher following the HHS's call to reclassify marijuana.
The HHS's call to reclassify marijuana as a lower-risk drug is a positive development for cannabis companies like IM Cannabis Corp. This could potentially lead to increased sales and profitability, which is likely driving the stock price higher.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Akerna Corp. (KERN) stock is trading higher following the HHS's call to reclassify marijuana.
The HHS's call to reclassify marijuana as a lower-risk drug is a positive development for cannabis companies like Akerna Corp. This could potentially lead to increased sales and profitability, which is likely driving the stock price higher.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Leafly Holdings, Inc. (LFLY) stock is trading higher following the HHS's call to reclassify marijuana.
The HHS's call to reclassify marijuana as a lower-risk drug is a positive development for cannabis companies like Leafly Holdings, Inc. This could potentially lead to increased sales and profitability, which is likely driving the stock price higher.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Sundial Growers Inc. (SNDL) stock is trading higher following the HHS's call to reclassify marijuana.
The HHS's call to reclassify marijuana as a lower-risk drug is a positive development for cannabis companies like Sundial Growers Inc. This could potentially lead to increased sales and profitability, which is likely driving the stock price higher.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Tilray, Inc. (TLRY) stock is trading higher following the HHS's call to reclassify marijuana.
The HHS's call to reclassify marijuana as a lower-risk drug is a positive development for cannabis companies like Tilray, Inc. This could potentially lead to increased sales and profitability, which is likely driving the stock price higher.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100