Curaleaf Holdings, Inc. CURLF shares are trading higher Thursday after the U.S. Department of Health and Human Services (HHS) recommended the rescheduling of marijuana on Wednesday.
What To Know:
According to a report from Bloomberg, Adm. Rachel Levine, the assistant secretary for health at HHS, sent a letter to the DEA Administrator, Anne Milgram, recommending that marijuana be rescheduled to a Schedule III substance.
Marijuana is currently classified as a Schedule I substance, putting it in the same category as heroin and LSD, as a drug without accepted medical treatment use and a lack of accepted safety for use under medical supervision.
Many names in the cannabis sector are soaring on the news, including Canopy Growth Corporation CGC and Tilray Brands, Inc. TLRY.
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CURLF Price Action: According to Benzinga Pro, Curaleaf shares are trading 18% higher at $3.18 at the time of publication.
Image: GDJ from Pixabay
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