'Justice Department Poised To Post Plans For Marijuana Reclassification; This Is The Next Step In The Rescheduling Process Begun By President Joe Biden In October 2022 That Is Set To Be The Largest Shift In Federal Drug Policy In Decades' - Politico
Portfolio Pulse from Benzinga Newsdesk
The Department of Justice plans to issue a notice of proposed rulemaking to reclassify marijuana to a less restrictive category, moving it from Schedule I to Schedule III. This follows a recommendation by the Department of Health and Human Services and is part of a broader shift in federal drug policy initiated by President Joe Biden in October 2022.
May 16, 2024 | 4:43 pm
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POSITIVE IMPACT
Aurora Cannabis (ACB) may benefit from the DOJ's proposed reclassification of marijuana, potentially increasing market opportunities and reducing regulatory burdens.
Reclassification to Schedule III could open up new market opportunities and reduce regulatory hurdles for Aurora Cannabis, potentially boosting its stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 80
POSITIVE IMPACT
Canopy Growth (CGC) stands to gain from the DOJ's proposed reclassification of marijuana, which could enhance its market presence and ease regulatory constraints.
The reclassification to Schedule III could provide Canopy Growth with greater market access and reduced regulatory challenges, likely boosting its stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 80
POSITIVE IMPACT
The ETFMG Alternative Harvest ETF (MJ) could benefit from the DOJ's proposed reclassification of marijuana, as it holds a portfolio of cannabis-related stocks.
The reclassification to Schedule III could positively impact the cannabis stocks within the ETFMG Alternative Harvest ETF, potentially boosting its value.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 70
POSITIVE IMPACT
The AdvisorShares Pure US Cannabis ETF (MSOS) could see positive impacts from the DOJ's proposed reclassification of marijuana, benefiting from its holdings in U.S. cannabis companies.
Reclassification to Schedule III could positively impact the U.S. cannabis companies within the AdvisorShares Pure US Cannabis ETF, potentially boosting its value.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 70
POSITIVE IMPACT
Tilray (TLRY) could see positive effects from the DOJ's proposed reclassification of marijuana, potentially expanding its market opportunities and lowering regulatory barriers.
Reclassification to Schedule III could open up new market opportunities and reduce regulatory hurdles for Tilray, potentially boosting its stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 80