Schedule I drugs are considered to have a high potential for abuse with no currently accepted medical use. The category includes drugs such as heroin and LSD. Schedule III drugs are defined as having low risk for psychological or physical dependence. Schedule III drugs include Tylenol with codeine, ketamine and anabolic steroids, according to the DEA’s website.
Stocks getting a boost from the news include Canadian cannabis companies Tilray (NASDAQ:TLRY), Canopy Growth (NASDAQ:CGC), Aurora Cannabis (NASDAQ:ACB), Cronos (CRON), Village Farms (VFF), Curaleaf (OTCPK:CURLF), and SNDL (NASDAQ:SNDL).
Multi-state operators: Cresco Labs (OTCQX:CRLBF), Columbia Care (OTCQX:CCHWF), Trulieve Cannabis (OTCQX:TCNNF), Green Thumb Industries (OTCQX:GTBIF), Curaleaf Holdings (OTCPK:CURLF), MedMen Enterprises (OTCQB:MMNFF), Acreage Holdings (OTCQX:ACRHF), Ayr Wellness (OTCQX:AYRWF); Verano Holdings (OTCQX:VRNOF), and Jushi Holdings (OTCQX:JUSHF).
Cannabis ETFs: AdvisorShares Pure Cannabis ETF (YOLO), Amplify Seymour Cannabis ETF (CNBS), ETFMG Alternative Harvest ETF (MJ), AdvisorShares Pure US Cannabis ETF (MSOS), and Global X Cannabis ETF (POTX).