President Biden's Cannabis Scheduling Review: Investing Takeaways
President Biden's decision to initiate a cannabis scheduling review -- which will be conducted jointly by the Drug Enforcement Agency (DEA) and the Food and Drug Administration (FDA) -- lit a fire underneath pot stocks in early October. Once investors had a chance to digest this groundbreaking news, however, most pot equities quickly reversed course.
In fact, most marijuana stocks have lost significant ground since this review was announced roughly three weeks ago. Canada's Aurora Cannabis (NASDAQ: ACB), for instance, has shed nearly 6% of its value since the administration initiated this review.
This broad revision to the mean appears to reflect the complicated nature of this forthcoming review. After all, multiple, wholly distinct outcomes are possible from this scheduling review -- some of which are not particularly favorable for the current cohort of cannabis equities.
Source Fool.com
