GRWG - Why Marijuana Stocks Are Glowing Green on Thursday
2023-08-31 11:25:32 ET
Shares of marijuana stocks including Canopy Growth (NASDAQ: CGC) , GrowGeneration (NASDAQ: GRWG) , and Cresco Labs (OTC: CRLBF) all tacked on strong gains in Thursday morning trading, rising 22.9%, 13.3%, and 10.5%, respectively, through 10:40 a.m. ET.
And investors have the U.S. Department of Health and Human Services (HHS) to thank for it.
Yesterday, HHS announced that it will officially recommend that the U.S. Drug Enforcement Agency (DEA) downgrade marijuana from a Schedule I controlled substance to just a Schedule III controlled substance -- an event investors have anticipated for nearly a year , after President Joe Biden suggested such a move last October.
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Why Marijuana Stocks Are Glowing Green on Thursday