Marijuana rescheduling decision is imminent, anti-cannabis group says
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 30 2024
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Source: SeekingAlpha
- DEA Cannabis Scheduling Review: The U.S. Drug Enforcement Administration is close to announcing results of its cannabis scheduling review, potentially moving it from Schedule I to Schedule III under the Controlled Substances Act.
- Uncertain Timing: The decision on cannabis rescheduling could happen soon, but the exact timing is uncertain, with possibilities ranging from days to months.
- Potential Impact: If moved to Schedule III, cannabis would be grouped with medications like ketamine and Tylenol with codeine, rather than alongside drugs like heroin and LSD in Schedule I.
- Political Pressure: Democratic lawmakers have urged a prompt decision on rescheduling, adding pressure on the DEA to make a move.
- Market Response: Cannabis stocks are performing well amid expectations of rescheduling, with investors closely watching for any updates on the situation.
Analyst Views on FLGC
About FLGC
Flora Growth Corp. is a cannabis company that manufactures and distributes consumer packaged goods and distributes medicinal cannabis and pharmaceutical products. Its brand consists of JustCBD, Vessel, Melo, Haze, and Australian Vaporizers. JustCBD is a consumer-packaged goods brand with over 350 products, including cannabidiol gummies, topicals, tinctures, and vape products. JustCBD products are available for purchase in smoke and vape shops, clinics, spas, and pet stores, as well as other independent non-traditional retail channels. Vessel is the cannabis accessory and technology brand servicing the United States and Canada through direct-to-consumer and retail sales. Vessel's products include cannabis consumption accessories, personal storage, and travel accessories for the vape and dry herb categories, which are sold to consumers, dispensaries, smoke shops, and cannabis brands. Australian Vaporizers is an online retailer of vaporizers, hardware, and accessories in Australia.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
