Cannabis stocks soared nearly across the board this afternoon on news that President Joe Biden’s administration is moving to reschedule marijuana as a Schedule III substance, a less severe designation than its prior Schedule I classification. Indeed, acting on a review from the Department of Health and Human Substances, the U.S. Drug Enforcement Administration (DEA) and U.S. Justice Department may recategorize cannabis as early as this week. A move to Schedule III would yield major benefits to both the lega ...