WHO is softening
Two weeks ago, WHO (World Health Organization) called for removing cannabis and related substances from the Schedule IV classification. If the recommendation is enacted, it would be another win for companies (HMMJ) including Tilray (TLRY), Canopy Growth (WEED), Aphria (APHA), and Aurora Cannabis (ACB).
Globally, reclassifying marijuana to a less severe category could change the overall perception. In many countries, there has been increased acceptance towards marijuana-related medicinal products. The attitude towards marijuana and related products is softening at the ground level and with establishments like WHO.
Reclassifying marijuana would allow some form of cannabis for economic benefits. The US just passed the hemp bill and legitimized some form of cannabis in the country. The market size for US cannabis could hit nearly $50 billion in sales, according to Aphria chairman Irwin Simon. Read Aphria Thinks the US Cannabis Market Could Hit $50 Billion to learn more.
On January 14, Canopy Growth announced a major win in the US market after receiving a license in New York state to run hemp operations. With the hemp license, Canopy Growth has access to one of the biggest markets in the United States, which should eventually help the company achieve the target of one billion Canadian dollars in sales.