Cannabis stocks have been on an absolute tear in recent trading sessions. Last week, the U.S. Department of Health and Human Services (HHS) announced it would recommend that the country’s Drug and Enforcement Agency (DEA) downgrade marijuana from the Schedule I list for controlled substances to Schedule III.
If cannabis is downgraded to a Schedule III drug, it would mean the U.S. government no longer views it as a drug with high abuse potential - and it would give the marijuana industry more latitude to undertake clinical research for medical usage, as well as making tax structures more favorable for cannabis corporations.
