Why Marijuana Stocks Keep Growing Higher Tuesday

It's the Tuesday after the holiday weekend, and shares of marijuana stocks seem to have benefited greatly from the rest. Across the board, shares of cannabis companies are shooting higher. Tilray Brands (NASDAQ: TLRY) is tacking on a solid 4.5% gain as of 12:45 p.m. ET, and Aurora Cannabis (NASDAQ: ACB) is up 6.8%, while Curaleaf Holdings (OTC: CURLF) gains 14.1%, Green Thumb Industries (OTC: GTBIF) gains 14.6%, and industry bellwether Canopy Growth (NASDAQ: CGC) is doing best of all -- up a powerful 27.6%.

And they all have President Joe Biden to thank for it.

As you've probably heard by now, late last month the U.S. Department of Health and Human Services (HSS) recommended to the U.S. Drug Enforcement Agency (DEA) that the latter downgrade marijuana from a Schedule I controlled substance to just a Schedule III controlled substance -- something that investors have waited nearly a year to see. But in fact, the news got even better over the weekend.

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Source Fool.com