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US health officials look to move marijuana to lower-risk drug category

Important to note that it's not a surefire thing that it'll be rescheduled to III. This is just the HHS recommendation to the DEA which is binding only so far as scientific evidence for scheduling. There's still the unknown of politics that could drive the DEA to schedule it differently, such as II or even keep it in I. That said, this is a huge deal and in my opinion schedule III is more likely than not.
NEW: US health officials are recommending easing restrictions on marijuana, a move that sets the stage for potentially expanding the cannabis market across the country.
A top official at the Department of Health and Human Services wrote Drug Enforcement Agency Administrator Anne Milgram calling for marijuana to be reclassified as a Schedule III drug under the Controlled Substances Act, according to a letter dated Aug. 29 that was seen by Bloomberg News.
Marijuana stocks, which are held more by individual than institutional investors, jumped on the news. The MJ PurePlay 100 Index, which tracks cannabis stocks, rose 13% on Wednesday, paring its year-to-date decline to 21%. $CANNABIST CO HOLDINGS INC.(CCHWF.US)$ gained 39% and $AYR WELLNESS INC(AYRWF.US)$ climbed 29%.
US health officials look to move marijuana to lower-risk drug category
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