Cannabis stocks surge as Biden administration moves to reclassify marijuana
Publishing timestamp: 2024-04-30 15:19:32
Summary
The Biden Administration plans to reclassify marijuana as a Schedule III substance, leading to a surge in cannabis stocks. This decision would ease federal restrictions on marijuana and place it in the same category as drugs with moderate to low potential for dependence. Investors in cannabis stocks cheered the move, with some ETFs and individual marijuana stocks seeing significant gains.
Sentiment: POSITIVE
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