Canadian hashish shares spike as U.S. reportedly set to reclassify marijuana

Cover Progress Corp. surged 49% after the announcement, whereas Aurora Hashish Inc. and Tilray Manufacturers Inc. soared 32% and 39%, respectively.

The Related Press, citing 5 sources aware of the matter, reported the DEA’s proposal would acknowledge the medical makes use of of hashish and acknowledge it has much less potential for abuse than different, extra harmful medicine.

Nevertheless, it might not legalize marijuana for leisure use.

Presently, marijuana is listed as a Schedule I drug within the U.S., alongside heroin and LSD, however could be reclassified as a Schedule III drug, alongside ketamine and a few anabolic steroids.

The reclassification of the drug within the U.S. might reduce dangers for hashish firms that function south of the border and probably enhance investor urge for food for hashish shares.

Firms on this story: (TSX:TLRY, TSX:ACB, TSX:WEED)

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