Cannabis stocks sink as DEA rescheduling hearing paused

Seeking Alpha··US·Read original
3▲0 ▼2Impact / 5
Summary · why it matters

Multi-state cannabis operators nosedived Wednesday after a DEA administrative law judge issued a stay in a hearing that could move marijuana to a Schedule III drug from Schedule I. Among the largest MSOs, Jushi Holdings was the hardest hit, down about 19.5% in afternoon trading, with Trulieve Cannabis not far behind, off about 16%. Judge Derek Julius granted the stay requested by opponents of rescheduling who want a GAO report on the federal government's rescheduling process, released on Sept. 23, entered into the hearing's record, and has given the DEA until Oct. 13 to respond on whether that should happen. Other multi-state operators include Curaleaf Holdings, Cresco Labs, TerrAscend, Verano Holdings, and Village Farms International, while cannabis-focused ETFs include the AdvisorShares Pure Cannabis ETF, the ETFMG Alternative Harvest ETF, the Amplify Seymour Cannabis ETF, and the AdvisorShares Pure US Cannabis ETF.

Impact on assets 2

Consumer Staples▼ · 1 stocks
Trulieve Cannabis Corp.
TRLV
▼ NegativeRegulationrelevance

Trulieve fell about 16% as the DEA judge's stay pauses the rescheduling hearing that could move marijuana to Schedule III.

Climate Adaptation & Water▼ · 1 stocks
Village Farms International Inc
VFF
▼ NegativeRegulationrelevance

Named as a multi-state operator hit by the DEA rescheduling hearing stay, which stalls the Schedule III reclassification.

Off-coverage companies 3

Jushi Holdings Inc.Private▼ Negative
Regulationrelevance

Jushi was the hardest hit, down about 19.5%, after the DEA administrative law judge stayed the rescheduling hearing.

Cresco Labs Inc.Private▼ Negative
Regulationrelevance

Named as a multi-state operator affected by the DEA stay halting the cannabis rescheduling process.

TerrAscendPrivate▼ Negative
Regulationrelevance

Named as a multi-state operator impacted by the paused DEA rescheduling hearing.

© 2026 MarketIVNews