Shares of marijuana producers in the United States have moved to growth – Kommersant

Shares of US marijuana producers rise significantly at the open of trading on Thursday, reports Reuters. Investor optimism is due to the fact that the day before Bloomberg announced the desire of the country’s authorities to recognize marijuana as harmless.

According to Bloomberg, on August 29, a senior US Department of Health and Human Services official sent a letter to Drug Enforcement Agency Administrator Ann Milgram, urging marijuana to be reclassified as a Class 3 drug under the Controlled Substances Act. It is now classified as a Class I narcotic, which prohibits its medical use due to its “high degree of addiction”. However, according to the Ministry of Health, this is not true, and marijuana is a narcotic drug that causes “moderate to low levels of physical and psychological dependence.” On the same day, the Ministry of Health announced that it had notified President Joe Biden of its findings about the harm to human health of marijuana. The Ministry and the Drug Enforcement Agency prepared this report at the request of the President for 11 months.

While marijuana use remains federally banned, almost 40 states have legalized marijuana to some extent. In most cases, we are talking about the medical use of marijuana. The report could be the first step towards legalizing marijuana at the federal level.

Against the backdrop of this news, shares of companies involved in the production or trade of marijuana began to skyrocket in today’s trading. Stock quotes of such companies rose from 3% to 14%.

Kirill Sarkhanyants