The U.S. government appears finally to be ready to review its categorization of marijuana as a dangerous drug, reviving hope among investors and marijuana producers for an industry that took off like a rocket five years ago before sinking like a rock less than two years later.
According to a Wednesday report from Bloomberg, an unidentified “top official” of the Department of Health and Human Services wrote to Drug Enforcement Agency (DEA) administrator Anne Milgram recommending the reclassification of marijuana from its current listing as a Schedule I drug to a new listing as a Schedule III drug.
Even if the DEA agrees to reclassify marijuana, that will not make it legal in the federal government’s eyes. Schedule I drugs include heroin and other drugs that have a high risk of abuse. Schedule III drugs may be legally purchased with a prescription.
Here is a quick rundown of six companies traded on U.S. exchanges that got a boost from Wednesday’s news.
This post first appeared 247wallst.com
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