Cannabis firms rise as Biden directs cabinet to review its federal classification

Jushi Holdings

08/03/2024 17:37

** Shares of pot firms rise as U.S. President Joe Biden
directs his cabinet to review its federal classification of
cannabis
    ** "Directing my cabinet to review the federal
classification of marijuana and expunging thousands of
convictions for the mere possession, because no one should be
jailed for simply using or have it on their record" Biden on
Thursday night
    ** Pot firms Canopy Growth  WEED.TO  and Aurora Cannabis
 ACB.TO  up 2.5% and 3.6%, respectively
    ** Trulieve Cannabis  TRUL.CD , Jushi Holdings  JUSH.CD ,
Green Thumb  GTII.CD , Cresco Labs  CL.CD  and Ayr Wellness
 AYRa.CD  up between 1.8% and 7.3% 
    ** Nasdaq-listed Tilray Brands  TLRY.O  up 3.7%
    ** Last year, the U.S. health agency proposed to the Drug
Enforcement Agency to reclassify cannabis as a lower-risk
substance; the review is still on
    
 

 (Reporting by Tanay Dhumal in Bengaluru)
 ((Tanay.Dhumal@thomsonreuters.com; 
Twitter: https://twitter.com/TanayDhumal))