Tilray Brands, Inc. (TLRY.TO)
- Yahoo Finance Video
Cannabis industry: DEA reclassification is a 'critical first step'
Cannabis stocks are experiencing a surge in Tuesday's afternoon trading session, fueled by an Associated Press report indicating that the US Drug Enforcement Administration is gearing up to reclassify marijuana as a less dangerous drug. Trulieve (TCNNF) CEO Kim Rivers joins Market Domination to provide insight into the potential implications of this news. Rivers acknowledges that the reclassification process has been "a long journey," explaining the various steps and approvals the drug has undergone before reaching this stage. However, she remains hopeful that there will be "an official announcement" from the DEA confirming its agreement with the recommendation to reschedule cannabis, placing it on the same level as Tylenol and codeine. She hails this potential move as "a critical first step for regulatory and policy changes." Rivers adds that the reclassification could facilitate safer banking operations within the cannabis industry, open new pathways for research, and lead to normalization in areas such as taxation. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Angel Smith
- The Canadian Press
Most actively traded companies on the Toronto Stock Exchange
TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (21,714.54, down 297.08 points): Enbridge Inc. (TSX:ENB). Energy. Down 20 cents, or 0.41 per cent, to $48.95 on 13.5 million shares. Ivanhoe Mines Ltd. (TSX:IVN). Mining. Down $1.96, or 9.51 per cent, to $18.66 on 12.3 million shares. Canopy Growth Corp. (TSX:WEED). Healthcare. Up $9.09, or 80.02 per cent, to $20.45 on 11.3 million shares. First Quantum Minerals Ltd. (TSX:FM). Mining.
- Barrons.com
Tilray, Other Marijuana Stocks Are Rising. The DEA May Reclassify Marijuana.
The DEA will move to reclassify marijuana to recognize the medical uses of cannabis, however, it would not legalize marijuana outright for recreational use, an AP report said.
