YOLO - Cannabis Stocks Retreat On New Rescheduling Order Developments: What's Going On? | Benzinga
The Biden Administration’s plan to reclassify cannabis as a Schedule III drug may be losing momentum following new reports suggesting the administrator of the U.S. Drug Enforcement Administration (DEA) failed to sign the rescheduling order.
What Happened: Several reports from last week indicated that the DEA would move to reclassify marijuana as a less dangerous drug. Although the proposal wouldn’t legalize cannabis for recreational use, it acknowledged that cannabis has medical benefits and places it in a category that recognizes it as having less potential for abuse.
The DEA was expected to move forward with its plans this week to remove ...