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Oct. 6, 2022, 3:30 p.m. EDT

Cannabis stocks rally on Biden pardon for pot possession, study of Schedule I status of cannabis

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By Steve Gelsi

Shares of cannabis companies rallied Thursday after President Joe Biden said he would pardon federal offenders for simple pot possession. Biden also asked for a review on marijuana's current status as a Schedule 1 controlled substance under U.S. law. U.S. cannabis companies listed on the OTC as well as Canadian cannabis companies moved up sharply. Curaleaf Holdings Inc. /zigman2/quotes/205334348/composite CURLF +6.04% jumped 37%, Tilray Brands Inc. /zigman2/quotes/209129655/composite TLRY +7.75% rallied 22.8%, Trulieve Cannabis Corp. /zigman2/quotes/207658767/composite TCNNF +7.06% moved up by 33.8%, Canopy Growth Corp. /zigman2/quotes/200603886/composite CGC +8.56% rose 15.7%, Verano Holdings Corp. /zigman2/quotes/224719896/delayed CA:VRNO +2.86% /zigman2/quotes/224743992/composite VRNOF +1.91% rose 9%, and Cresco Labs /zigman2/quotes/200392306/composite CRLBF +5.97% advanced by 26.4%. The Cannabis ETF /zigman2/quotes/213173823/composite THCX +3.77% rose 3.7% and the AdvisorShares Pure US Cannabis ETF /zigman2/quotes/220307682/composite MSOS +6.78% rose 18.7%.

/zigman2/quotes/205334348/composite
US : U.S.: OTC
$ 7.02
+0.40 +6.04%
Volume: 418,804
Dec. 1, 2022 3:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$4.70 billion
Rev. per Employee
N/A
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/zigman2/quotes/209129655/composite
US : U.S.: Nasdaq
$ 4.17
+0.30 +7.75%
Volume: 21.01M
Dec. 1, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$2.37 billion
Rev. per Employee
$360,918
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/zigman2/quotes/207658767/composite
US : U.S.: OTC
$ 13.80
+0.91 +7.06%
Volume: 258,205
Dec. 1, 2022 3:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$2.41 billion
Rev. per Employee
$138,308
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/zigman2/quotes/200603886/composite
US : U.S.: Nasdaq
$ 3.93
+0.31 +8.56%
Volume: 11.19M
Dec. 1, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.74 billion
Rev. per Employee
$119,500
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/zigman2/quotes/224719896/delayed
CA : Canadian Securities Exchange
$ 7.20
+0.20 +2.86%
Volume: 495,709
Dec. 1, 2022 3:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$2.33 billion
Rev. per Employee
$284,344
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/zigman2/quotes/224743992/composite
US : U.S.: OTC
$ 5.33
+0.10 +1.91%
Volume: 401,056
Dec. 1, 2022 3:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.72 billion
Rev. per Employee
$222,455
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/zigman2/quotes/200392306/composite
US : U.S.: OTC
$ 3.55
+0.20 +5.97%
Volume: 675,481
Dec. 1, 2022 3:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.33 billion
Rev. per Employee
N/A
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/zigman2/quotes/213173823/composite
US : U.S.: NYSE Arca
$ 3.30
+0.12 +3.77%
Volume: 48,967
Dec. 1, 2022 4:10p
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/zigman2/quotes/220307682/composite
US : U.S.: NYSE Arca
$ 12.75
+0.81 +6.78%
Volume: 4.30M
Dec. 1, 2022 4:00p
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