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What’s the Latest with Cronos Group Stocks?

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Cronos Group Inc, traded as CRON on the NASDAQ, has experienced a 21% surge in its stock price over the past five trading sessions, fueled by the strong performance of the cannabis industry. The recent news that the Department of Health and Human Services (HHS) is proposing the reclassification of marijuana as a lower-risk drug category has contributed to the rising value of cannabis stocks.

Check this out: Weed Stocks Soar, Is There More Room to Grow? Analyst Offers Scenarios

A letter dated August 29, sent by a senior HHS official to DEA Administrator Anne Milgram and reported by Bloomberg News, calls for the reclassification of marijuana from Schedule I to Schedule III under the Controlled Substances Act. This change is significant as Schedule I substances currently include highly addictive drugs such as heroin.

The recommendation is based on the evaluation conducted by the FDA regarding the classification of marijuana. The Controlled Substances Act classifies substances according to their medical uses, potential for abuse, and safety.

These evolving conditions within the cannabis industry will be discussed at the Benzinga Cannabis Capital Conference in Chicago on September 27-28. Don’t miss out on this opportunity to stay informed and be part of the cannabis investment and branding scene.

Secure your tickets today to secure your spot at the forefront of cannabis investment and branding, before prices increase.

According to data from Benzinga Pro, Cronos Group’s stock price has reached a 52-week high of $3.62 and a 52-week low of $1.64.

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