DEA to reclassify marijuana as less dangerous drug, AP reports

The Drug Enforcement Administration will move to reclassify marijuana as a less dangerous drug, Associated Press reports. The DEA’s proposal, which still must be reviewed by the White House Office of Management and Budget, would recognize the medical uses of cannabis and acknowledge it has less potential for abuse than some of the nation’s most dangerous drugs, according the AP. However, it would not legalize marijuana outright for recreational use, the news agency notes. Publicly traded companies in the cannabis space include Aurora Cannabis (ACB), CV Sciences (CVSI), Canopy Growth (CGC), Cronos Group (CRON), Goodness Growth (GDNSF), Green Thumb Industries (GTBIF), IGC Pharma (IGC), Tilray (TLRY), Trees Corporation (CANN) and Trulieve Cannabis (TCNNF).