Written by Amy Legate-Wolfe at The Motley Fool Canada
Shares of Canopy Growth (TSX:WEED) have absolutely surged in the last two weeks, leaving many investors wondering what on earth is going on. Canopy Growth stock was hitting 52-week lows before that point, after all.
So let’s take a look at why everyone is talking about Canopy Growth stock, and whether you might want to consider it as well.
What happened: The U.S.
A number of factors are colliding to create this increase in share price. Canopy Growth stock first received a boost after news from the United States. Vice President Kamala Harris of the U.S. stated that the Drug Enforcement Administration (DEA) needed to speed up the process of rescheduling marijuana.
Right now, cannabis is considered a Schedule I narcotic. This puts it on the same level as something like cocaine. Meanwhile, a drug like fentanyl is considered a Schedule III narcotic, as it’s…
