Canadian cannabis stocks spike as U.S. reportedly set to reclassify marijuana [MoneySense]
Aurora Cannabis Inc. - Common Shares (ACB)
Company Research
Source: MoneySense
AdvertisementCanopy Growth Corp. surged 49% after the announcement, while Aurora Cannabis Inc. and Tilray Brands Inc. soared 32% and 39%, 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 U.S., alongside heroin and LSD, but would be reclassified as a Schedule III drug, alongside ketamine and some anabolic steroids.The reclassification of the drug in the U.S. could lessen risks for cannabis companies that operate south of the border and potentially improve investor appetite for cannabis stocks.Companies in this story: (TSX:TLRY, TSX:ACB, TSX:WEED)It pays to know! Get FREE MoneySense financial tips, news & advice in your inbox. Subscribe nowMore aboutinvestingBest in CanadaShare
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News
- Aurora Cannabis Announces Appointment of New Director [Yahoo! Finance]Yahoo! Finance
- Aurora Cannabis Announces Appointment of New DirectorPR Newswire
- Why Aurora Cannabis, Tilray Brands, and SNDL Inc. Stocks Lit Up on Tuesday [Yahoo! Finance]Yahoo! Finance
- Missed Out on Aurora Cannabis? Buy Galaxy Digital Instead [Yahoo! Finance Canada]Yahoo! Finance Canada
- Global Legal Marijuana Strategic Business Report 2024: A $125+ Billion Market by 2030 Featuring Aphria, Aurora Cannabis, Beacon Medical, Canopy Growth, Cronos, OrganiGram, Tikun Olam, Tilray, Wayland [Yahoo! Finance]Yahoo! Finance
ACB
Sec Filings
- 5/14/24 - Form 6-K
- 5/1/24 - Form 6-K
- 3/1/24 - Form 6-K
- ACB's page on the SEC website