By If marijuana is classified as Schedule III, it could potentially eliminate the burdensome 280E tax regulations that currently prevent state-legal cannabis companies from claiming customary business cost deductions. This development has brought about an upward trajectory for several key players in the industry.
Curaleaf Holdings Inc. (CURLF) has seen a 5% increase after gaining 4.8% on Wednesday, while Trulieve Cannabis Corp. (TCNNF) experienced a 3.6% rise following a 2.2% increase the previous day. Green Thumb Industries (GTBIF) saw an 0.8% increase after a 3.5% gain in the previous session. Cresco Labs (CRLBF) rose by 7.9%, building on an 8.2% advance from the prior session. Verano Holdings Corp. (VRNOF) experienced a minor dip of 0.3% after a notable 8.7% increase on Wednesday. Meanwhile, TerrAscend Corp. (TSNDF) climbed by 1.1% after a substantial 10.6% gain in the previous session. The Advisor Shares Pure U.S. Cannabis ETF (MSOS) recorded a 3% increase in addition to its 5.6% surge on Wednesday.
Under current federal law, Schedule I drugs are defined as having no medical use and include substances such as heroin and LSD. In contrast, Schedule III classification permits regulated medical use of controlled substances.
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