YOLO - Cannabis Stocks And ETFs Trading Higher As Government Recommendations Ignite Hope For Industry | Benzinga
On Tuesday cannabis stocks and ETFs started the trading day on a positive note following the release of documents related to the Department of Health and Human Service's (HHS) review of cannabis late last week.
Investors seem optimistic about potential regulatory changes that could benefit the cannabis industry after the Dept. of Health and Human Services (HHS) finally released 252 pages of documents on Friday confirming for the first time that the HHS recommended that the DEA reschedule cannabis from Schedule I to Schedule III under the Controlled Substances Act.
The documents explain that cannabis "has a currently accepted medical use in treatment in the United States" and that it has a "potential for abuse less than the drugs or other substances in Schedules I and II.”
Assistant Secretary for Health Rachel Levine, one of the top officials at HHS wrote a letter dated Aug. 29 to Drug Enforcement Agency administrator Anne Milgram in August calling for marijuana to be reclassified as a Schedule III drug under the Controlled Substances Act.
In an interview with The New York Times, Xavier Becerra, the Secretary of HHS, stated that his department ...