TLRY - What's Going On With Cannabis-Producer Akanda's Stock? | Benzinga
Akanda Corp. (NASDAQ:AKAN) shares are trading higher Friday amid increased volaility in marijuana stocks after President Biden announced the Department of Justice is taking the next step towards the reclassification of marijuana from a Schedule I substance to a Schedule III.
The Details:
President Biden posted a video on the social media platform X Thursday with the following caption:
"Too many lives have been upended because of our failed approach to marijuana. So today, the @TheJusticeDept is taking the next step to reclassify marijuana from a Schedule I to a Schedule III drug under federal law."
The Department of Justice reportedly planned to issue a notice of proposed rulemaking on Thursday that would reclassify marijuana to Schedule III after a 60-day public comment period.
Major players in the marijuana industry, including Canopy Growth Corporation (NASDAQ:CGC), Aurora Cannabis Inc. (NASDAQ:ACB) and Tilray Brands, Inc. ...