TORONTO — Canadian cannabis stocks soared Tuesday afternoon after The Associated Press reported the U.S. Drug Enforcement Agency will move to reclassify marijuana as a less dangerous drug. Canopy Growth Corp. closed up 80 per cent at $20.
TORONTO — Canadian cannabis stocks soared Tuesday afternoon after The Associated Press reported the U.S. Drug Enforcement Agency will move to reclassify marijuana as a less dangerous drug.
Canopy Growth Corp. closed up 80 per cent at $20.45, while Aurora Cannabis Inc. and Tilray Brands Inc. closed up 46 per cent and 40 per cent, respectively.
The Associated Press, citing five sources familiar with the matter, reported the DEA’s proposal would recognize the medical uses of cannabis and acknowledge it has less potential for abuse than other, more dangerous drugs.
However, it would not legalize marijuana for recreational use.
Currently, marijuana is listed as a Schedule I drug in the…
