Why Curaleaf Holdings Stock Is Moving Higher

Curaleaf Holdings, Inc. CURLF shares are trading higher Thursday after the U.S. Department of Health and Human Services (HHS) recommended the rescheduling of marijuana on Wednesday.
What To Know:

According to a report from Bloomberg, Adm. Rachel Levine, the assistant secretary for health at HHS, sent a letter to the DEA Administrator, Anne Milgram, recommending that marijuana be rescheduled to a Schedule III substance.
Marijuana is currently classified as a Schedule I substance, putting it in the same category as heroin and LSD, as a drug without accepted medical treatment use and a lack of accepted safety for use under medical supervision.

Many names in the cannabis sector are soaring on the news, including Canopy Growth Corporation CGC and Tilray Brands, Inc. TLRY.

CURLF Price Action: According to Benzinga Pro, Curaleaf shares are trading 18% higher at $3.18 at the time of publication.

Image: GDJ from Pixabay

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Comments

Cannabis rescheduling seems to be right around the corner