HHS calls for easing restrictions on marijuana, sending cannabis stocks higher
Publishing timestamp: 2023-08-31 07:47:51
Summary
The U.S. Department of Health and Human Services has recommended reclassifying marijuana as a lower-risk drug, which would ease restrictions on the cannabis industry. This could potentially expand the market for marijuana and has caused shares of companies like Canopy Growth, Tilray Brands, and Cronos Group to rise. The current federal classification of marijuana as a Schedule I drug has hindered the industry's growth, but this recommendation could lead to positive changes.
Sentiment: POSITIVE
Tickers: CRON-CA, WEED-CA, TLRY,
Keywords: biotech and pharmaceuticals, canopy growth corp, social issues, health care industry, cronos group inc, biotechnology, marijuana, tilray brands inc, pharmaceuticals, united states, business news, business,
Source: https://www.cnbc.com/2023/08/30/hhs-calls-for-easing-marijuana-restrictions.html