Canopy Growth stock soars 30% on U.S. marijuana policy shift hopes
Shares in Canopy Growth jumped by more than 30% on Friday. The surge came after reports suggested the U.S. might ease federal restrictions on marijuana. Investors are now watching for an official decision on reclassifying the drug from its current Schedule I status to a more lenient category, acknowledging its medical uses and lower abuse risk.
The potential change could bring tax relief and better financing options for cannabis businesses. However, no formal ruling has been announced yet.
The final decision lies with the U.S. Drug Enforcement Administration (DEA) and Congress. Former President Trump previously backed reclassification, but the process remains uncertain. While the market reacts to speculation, the sector stays unpredictable.
Canopy Growth’s stock rise reflects optimism about regulatory reform. Yet without confirmation, the industry’s future remains unclear.
A reclassification to Schedule III would mark a major shift in U.S. drug policy and provide financial benefits for companies like Canopy Growth. For now, businesses and investors must wait for an official announcement from regulators.
