Pot stocks fall as DEA judge cancels hearing on marijuana rescheduling

Canopy Growth

14/01/2025 15:30

** Shares of cannabis firms fall as U.S. Drug Enforcement
Administration (DEA) judge on Monday cancelled marijuana
rescheduling hearings
    ** Tilray Brands  TLRY.O  falls 1.5% and Cresco Labs  CL.CD 
down 3.8%
    ** Toronto-listed shares of Canopy Growth  WEED.TO  down 2%,
Trulieve Cannabis  TRUL.CD  falls 2.7% and Curaleaf Holdings
 CURA.TO  down 3.2%
    ** John Mulrooney, the DEA administrative law judge,
cancelled the scheduled January 21 merit-based hearing and
stayed the proceedings for at least three months
    ** Despite marijuana being legal in dozens of U.S. states,
federal law categorizes it as a schedule I drug and prohibits
most conventional U.S. banks from doing business with cannabis
firms

 (Reporting by Pooja Menon in Bengaluru)
 ((Pooja.Menon@thomsonreuters.com;))