According to the Zhītōng Finance APP, on Wednesday, August 30th, Eastern Time, it was reported by Wall Street News that a letter dated August 29th was sent by Rachel Levine, Assistant Secretary of the U.S. Department of Health and Human Services (HHS), to Anne Milgram, Director of the Drug Enforcement Administration (DEA), urging for an adjustment in the classification of marijuana under the Controlled Substances Act, placing it in Schedule III.
As a result, marijuana concept stocks in the U.S. stock market experienced a surge last night, with the MJ PurePlay 100 index, which tracks marijuana stocks, rising by 13%. At the same time, several marijuana stocks saw double-digit gains, with Columbia Care Inc. (CCHWF) rising by over 39%, Ayr Wellness Inc. (AYRWF) rising by over 29%, Curaleaf Holdings Inc. (CURLF) rising by over 18%, and Canopy Growth Corp (CGC) rising by 13.2%.
Some media outlets have stated that if the HHS's proposed reclassification is approved, it will signify a significant shift in the status of marijuana as a high-risk drug, bringing it one step closer to full legalization.
It is worth noting that currently, marijuana is medically and recreationally legalized in 23 states in the U.S., and medically legalized in 39 states. The process of marijuana legalization is accelerating both at the federal and state government levels.
Analysts from various institutions have suggested that the legalization of marijuana in the United States may accelerate, leading to a rapid expansion of the market and benefiting companies involved in the industry chain, especially contract manufacturers and brand enterprises with large-scale production capabilities, which may seize rapid development opportunities.
ISPR.US, a company that went public in the United States in April this year, has performed remarkably well, reaching a historical high on July 6th.
According to data, ISPR.US is engaged in the research, design, commercialization, sales, marketing, and distribution of branded electronic cigarettes and marijuana vaporization products. The company's main products are vaporization devices and open-system vaporization devices (e-cigarettes for tobacco products) and components. Vaporization devices are mainly sold in the United States, and the company has started marketing in Canada and Europe, mainly targeting EU countries.
According to Euromonitor International, the global market size of marijuana vaporization products is expected to exceed $10 billion by 2025, with a compound annual growth rate of 30% from 2020 to 2025. As the acceptance of vaporization products in society increases, the company's vaporization segment is experiencing rapid growth, and its future performance contribution will be significantly enhanced.
China Merchants Securities pointed out that the progress of industry legalization in the United States + the increase in vaporization penetration rate driving rapid growth in the vaporization market, ISPR.US has excellent localization construction and deep cultivation in first-tier markets, with rapid product iteration in response to consumer demand, and has reached a strategic cooperation with well-known product and cultural brand Cookies. In addition, the company is raising funds to build overseas production capacity, and its profitability is expected to improve.

Last night, the cannabis concept stocks in the US stock market experienced a surge.

US cannabis stocks are soaring! Vaporization sector of Wuma Technology is experiencing rapid growth.