Cannabis Stock Canopy Growth Corporation (TSX: WEED.TO) Falls on DEA Delay

August 27, 2024 (Investorideas.com Newswire) Investorideas.com, a go-to platform for big investing ideas, including cannabis stocks reports on trading for Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC), a world-leading cannabis company dedicated to unleashing the power of cannabis to improve lives.

Canopy Growth is one of several pot stocks that had declines in today's trading. News that the much previously hyped Drug Enforcement Administration rescheduling of marijuana has now been delayed to after the US Presidential election has sent the sector into a tailspin.

Canopy Growth (TSX: WEED) is one of the top volume leaders on the TSX, currently trading at $7.40, down 0.90, losing 10.84% on just under 1.9 Million shares as of this report.

Update:

Drug Enforcement Administration

Schedules of Controlled Substances: Rescheduling of Marijuana

AGENCY: Drug Enforcement Administration, Department of Justice.

ACTION: Notice of hearing on proposed rulemaking.

SUMMARY: This is notice that the Drug Enforcement Administration will hold a hearing

with respect to the proposed rescheduling of marijuana into schedule III of the Controlled

Substances Act. The proposed rescheduling of marijuana was initially proposed in a Notice

of Proposed Rulemaking published in the Federal Register on May 21, 2024.

DATES: Interested persons desiring to participate in this hearing must provide written

notice of desired participation as set out below, on or before [INSERT DATE 30 DAYS

AFTER DATE OF PUBLICATION].

The hearing will commence on December 2, 2024, at 9 a.m. ET at 700 Army Navy Drive,

Arlington, VA 22202. The hearing may be moved to a different place and may be continued

from day to day or recessed to a later date without notice other than announcement thereof by

the presiding officer at the hearing. 21 CFR 1316.53.

Recent DEA news

https://public-inspection.federalregister.gov/2024-19370.pdf

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