US CANNABIS Stocks Rally Following Leaked Cannabis Rescheduling Letter
Cannabis stocks are rallying after a letter was leaked to Bloomberg on Wednesday revealing that The U.S Department of Health and Human Services (HHS) has recommended the Drug Enforcement Administration (DEA) reclassify cannabis from Schedule I to Schedule III under federal law.While the Global Cannabis Stock Index hit an all-time low in June 2023, the rescheduling news saw the Index spike following a strong month in July which saw stocks such as Tilray and Hydrofarm rise by 62.2% and 49.6% respectively.
US CANNABIS STOCK RALLY - DEA TO RE CLASSIFY
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