The DEA was expected to move forward with its plans this week to remove cannabis as a Schedule 1 drug, where it currently sits alongside heroin and LSD, but new reports suggest the proposal has stalled.
"Cannabis is just getting started and there's going to be a lot of companies getting ready to take advantage of this massive growth cycle, government reform, news states, opening new opportunities and one day, interstate commerce." That's according to Benzinga's cannabis stock expert, Michael Berger, who is on a mission to uncover the most promising marijuana stocks poised for growth, even in a dull market.
The recent decision by the DEA to reschedule cannabis to Schedule III has triggered notable volatility in the market valuations of multi-state operators (MSOs).
Tuesday's announcement that the DEA is moving towards rescheduling cannabis from Schedule I to Schedule III, has already injected billions into the publicly traded market for cannabis companies.
The conversation around cannabis legalization in Pennsylvania is pivoting towards a potential state-run model, akin to the existing system for alcohol sales.