- Canadian Licensed Producers are extending a selloff in the cannabis space on Wednesday in reaction to FDA’s plans to regulate cannabis-derived products in the coming months.
- Notable decliners include the Canada-listed shares of Aurora Cannabis (ACB), Canopy Growth (CGC), HEXO Corp (HEXO), OrganiGram Holdings (OGI), and Sundial Growers (SNDL).
- U.S. Multi-State Operators MedMen Enterprises (OTCQB:MMNFF), Curaleaf Holdings (OTCPK:CURLF), Verano Holdings (OTCQX:VRNOF), and Jushi Holdings (OTCQX:JUSHF) are also trading lower for the second straight session.
- The U.S. MSOs ended weaker on Tuesday after The Wall Street Journal reported that the FDA’s regulatory plans would be applicable for food and supplements containing cannabidiol, or CBD, a non-psychoactive ingredient in the cannabis plant.
- In early December, President Joe Biden signed a marijuana research bill into law that included measures to encourage the FDA to develop cannabis-derived medicines.
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