cannabis
Akanda Corp (NASDAQ: AKAN) is in focus this morning after receiving a notice of non-compliance from Nasdaq. Akanda fails to satisfy the Nasdaq listing requirementsThe deficiency notification was issued to the international medical cannabis company because it failed to meet the “minimum stockholders’ equity requirement as set forth in Nasdaq Listing Rule 5550(b)(1). $AKAN failed to satisfy the alternative compliance standards “based on market value of listed securities or net income from continuing operations” as well, a press release confirmed on Friday. Note that Akanda stock saw a massive de...
Invezz
Cannabis stocks have gone parabolic. Tilray Brands (TLRY) stock jumped by over 39% on Tuesday while Canopy Growth (CGC) soared by over 78%. SNDL soared by over 22% while the AdvisorShares Pure US Cannabis ETF (MSOS) roared back by over 24.8%. Tilray Brands vs MSOS vs SNDL vs Aurora Cannabis US to reclassify cannabisThese stocks jumped after the Biden administration said that it would reclassify cannabis into a less harmful category. That will be a big step for the cannabis industry, which has come under intense pressure in the past few years. Chuck Schumer, the head of the Senate wrote: “It is...
Invezz
In a significant policy shift, the US Justice Department has recommended reclassifying marijuana as a schedule three controlled substance, aligning it with drugs like ketamine and Tylenol with codeine. This change, announced on Tuesday, does not legalize recreational marijuana use nationally but does pave the way for lighter legal penalties and enhanced financial opportunities for the cannabis industry. Implications for the cannabis industryCurrently categorized as a schedule one drug alongside substances like heroin and LSD, marijuana’s reclassification would alleviate some of the financial b...
Invezz
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