On March 7th, 2024, US President Joe Biden discussed cannabis rescheduling in his State of the Union (SOTU) address (1). Specifically, he mentioned his administration’s efforts to reschedule cannabis at the federal level and the pardons issued for possession of cannabis (1). Both US and Canadian cannabis stocks rose after cannabis rescheduling was mentioned in the speech, according to Morningstar (3). US cannabis stocks included Curaleaf Holdings Inc., Trulieve Cannabis Corp., Green Thumb Industries Inc., Cresco Labs Inc., Verano Holdings Corp., Ayr Wellness, and TerrAscend Corp. (3). Canadian cannabis stocks included Canopy Growth Corp., Tilray Brands Inc., and Aurora Cannabis Inc. (3).

Source: Forbes March 09, 2024 08:39 UTC