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.
Related News: Why Tesla Stock Is Moving Higher Today
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
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis is evolving – don’t get left behind!
Curious about what’s next for the industry and how to leverage California’s unique market?
Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!
Get your tickets now to secure your spot and avoid last-minute price hikes.