Bevcanna Enterprises Inc C.BEV

Wake up Bev ..........

[prone]

Pot firms surge as US move to ease curbs sparks hopes of legalization, from 3 hours ago by Thomson Reuters

3 hours ago by Thomson Reuters

Companies Mentioned: GDNS, WEED, OGI, AYR.A, TLRY, TRUL, CL, SNDL, VRNO, GTII, CRON, ACB, CURA

 

(Adds analyst comment in paragraph 3, updates shares in paragraph 4-6 paragraphs)

Aug 31 (Reuters) - Shares of marijuana companies jumped as much as 37% in morning trading on Thursday after a U.S. health agency's proposal to reclassify it as a lower-risk substance boosted expectations of legalization at the federal level.

Nearly 40 U.S. states have legalized marijuana's use in some form but efforts at the federal level have hit a wall, leaving some investors cagey and the sector dependent on non-traditional sources for funding.

"A move to Schedule III would eliminate the onerous tax treatment of U.S. MSOs, and represent a major legitimizing event for the industry that could draw participation from institutions and strategic investors who have hitherto largely been sidelined by its Schedule I status," said Eight Capital analyst Ty Collin.