Pot Stocks Soar As DoJ Reclassifies Medical Marijuana As Less Dangerous Drug

 Pot stocks are moving higher in premarket trading in New York after the Justice Department and DEA announced that FDA-approved marijuana-based drugs and state-licensed medical marijuana products will be moved immediately from Schedule I to Schedule III. This is a major shift in how the federal government classifies these types of cannabis products.

*DOJ RECLASSIFIES MEDICAL MARIJUANA AS A LESS-DANGEROUS DRUG: AP

— zerohedge (@zerohedge) April 23, 2026

The classification is designed to expand access to approved therapies, support state-regulated medical marijuana programs, and make research easier, while still keeping federal controls in place against black market operators.

The reclassification legitimizes medical marijuana programs already operating in 40 states. It also creates a faster DEA registration path for state-licensed medical marijuana operators and protects researchers using state-licensed cannabis products.

"The Department of Justice is delivering on President Trump’s promise to expand Americans’ access to medical treatment options," Acting Attorney General Todd Blanche stated in a press release.

Blanche continued, “This rescheduling action allows for research on the safety and efficacy of this substance, ultimately providing patients with better care and doctors with more reliable information.”

It appears the Trump administration is taking a two-track approach: immediate relief and policy clarity for medical marijuana and researchers, while also setting up a faster legal roadmap toward broader federal reclassification later.

The news sent marijuana stocks soaring in premarket trading:

• Canopy Growth (CGC): $1.48, up about 7%

• Tilray Brands (TLRY): $8.50, up about 8%

• Aurora Cannabis (ACB): $4.01, up about 5.5%

• Cronos Group (CRON): $3, up about 7%

• Organigram Global (OGI): $1.67, up about 5%

• SNDL (SNDL): $1.77, up about 6.6%

• Village Farms (VFF): $3.31, up about 7%

Amplify Alternative Harvest ETF (MJ), which holds several of the major cannabis names listed above, is up nearly 6% in premarket trading. MJ remains flat year-to-date but has rallied 33% over the past month.

Related: 

• Half Of Americans Live In States Where Weed Is Legal

Late last year:

• "People Begging Me To Do This": Trump Signs Executive Order Reclassifying Cannabis

Trump is on a roll: 

• Psychedelic Stocks Soar After Trump Order; RBC Says Commercialization Path Could Accelerate

DoJ noted, "Today’s order is reflective of the Department of Justice’s continued dedication to common-sense policies and the prioritization of the safety and well-being of all Americans."

https://www.zerohedge.com/medical/pot-stocks-soar-doj-reclassifies-medical-marijuana-less-dangerous-drug

Medpace Q1 2026 non-GAAP EPS $4.28 (+17% YoY) and revenue $706.6M (+27% YoY)

 

• For 2026, Medpace guides to 8.9%-12.8% revenue growth versus 2025 results.
• 2026 GAAP EPS guidance is $16.68 to $17.50, as disclosed with first-quarter results.
• President Jesse Geiger will retire effective May 31, 2026, according to the SEC filing.

https://finviz.com/quote.ashx?t=MEDP&p=d

Cumberland to sell branded U.S. pharma portfolio to Apotex affiliate for $100 million cash

 

Cumberland to sell branded U.S. pharma portfolio to Apotex affiliate for $100 million cash and refocus on orphan drugs

• Transaction is subject to shareholder approval and will transfer Cumberland's branded U.S. pharmaceutical portfolio to an Apotex affiliate.
• Cumberland plans to focus on its retained orphan drug pipeline after divesting the branded portfolio.

https://finviz.com/quote.ashx?t=CPIX&p=d

Iran releases video purporting to show commandos seizing ships in Strait of Hormuz

 Iran has released a video purportedly showing armed, masked commandos seizing two cargo vessels in the Strait of Hormuz. 

The propaganda clip was pumped out by state media Wednesday after the regime boasted it had seized the Panama-flagged MSC Francesca and Liberia-flagged Epaminondas vessels, just hours after the cease-fire was extended.

In the video, Islamic Revolutionary Guard Corps soldiers are seen speeding toward a container ship that had MSC emblazoned on the side before scaling a ladder and boarding the vessel.

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Iran released a video purporting to show commandos seizing cargo ships in the Strait of Hormuz.via REUTERS

The commandos are wearing masks and carrying guns on their backs.

Then soldiers were filmed approaching the Epaminondas before they entered a supposed engine room.

The soldiers then climbed up the stairs to the ship’s top decks.

The IRGC has accused the two vessels of operating without the required permit and tampering with their navigation systems. 

Personnel on the Epaminondas reported damage to its bridge after Iranian soldiers opened fire and hurled grenades from a gunboat, according to the UK Maritime Trade Operations.

Officials with Technomar Shipping Inc., the Greek-based operator of the container ship, said the vessel had been boarded by Iranian soldiers.

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Masked, armed commandos scale a ladder before boarding the vessel.via REUTERS

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Soldiers were seen approaching the Epaminondas.@Tasnimnews_Fa/X

The MSC Francesca also came under fire, around six miles off the coast of Iran, and sources at the intelligence firm Vanguard said the vessel was “instructed to drop anchor,” BBC reported.

Panama has condemned Iran for seizing the vessel, branding the act “illegal.”

Officials there said Tehran’s act posed a “serious threat to maritime security,” constituting an “unnecessary escalation” at a time when the West is trying to ensure the Strait of Hormuz remains open.

However, Washington has said the cease-fire wasn’t violated as a result of Iran’s acts.

“These were not US ships. These were not Israeli ships. These were two international vessels,” White House press secretary Karoline Leavitt told Fox News.

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A soldier wields his gun on the deck of the ship.@Tasnimnews_Fa/X

 “And for the American media who is sort of blowing this out of proportion to discredit the president’s facts — that he has completely obliterated Iran’s conventional navy — these two ships were taken by speedy gunboats.

“Iran has gone from having the most lethal navy in the Middle East to now acting like a bunch of pirates.”

The vessels were seized three days after US Marines took command of the Iranian-flagged vessel Touska that tried to break the Strait of Hormuz blockade.

Meanwhile, US forces reportedly intercepted at least three Iranian oil tankers, redirecting them away from their positions near India, Malaysia and Sri Lanka.

The US-Iran cease-fire was extended Tuesday, and President Trump told The Post there could be a breakthrough regarding a second round of peace talks in Islamabad, Pakistan.

Talks could be held as soon as Friday, but Iran hasn’t committed to a second round of negotiations.

Iranian President Masoud Pezeshkian said the US’s blockade of the strait is one of the “main obstacles to genuine negotiations.”

Trump has called on Tehran to send over a “unified” plan before negotiations can proceed.

https://nypost.com/2026/04/23/world-news/iran-releases-video-purporting-to-show-commandos-seizing-ships-in-strait-of-hormuz/

Trump: US to shoot any boat putting mines in Hormuz

 United States President Donald Trump revealed on Thursday that he ordered the US Navy to "shoot and kill" any boat that is placing mines in the Strait of Hormuz.

"There is to be no hesitation. Additionally, our mine 'sweepers' are clearing the Strait right now. I am hereby ordering that activity to continue, but at a tripled up level," Trump said in a post on Truth Social.

Meanwhile, the US Department of Defense reportedly told the US Congress that it would take up to six months to clear the Strait of Hormuz, and that Iran placed more than 20 mines in the waterway using small boats for some and floating the others remotely using GPS.

https://breakingthenews.net/Article/Trump:-US-to-shoot-any-boat-putting-mines-in-Hormuz/66135514

Mizuho Raises Price Target on Revolution Medicines to $185 From $140

Mizuho raised its price target on Revolution Medicines Inc. shares (NASDAQ:RVMD) to $185 from $140 while maintaining an Outperform rating. The stock currently trades at $141.50, up 278% over the past year, though InvestingPro analysis suggests shares may be overvalued relative to its Fair Value estimate.

The firm increased its probability of success estimate for pancreatic cancer to 90% from 80% following recent clinical trial data. Mizuho also accelerated its adoption trajectory for daraxonrasib in first-line and second-line pancreatic cancer treatment. The optimism aligns with Wall Street’s broader sentiment, as analyst consensus stands at Strong Buy with price targets ranging from $116 to $215.

The adjustment follows survival benefit data from the RASolute 302 trial of daraxonrasib in second-line pancreatic cancer and updated data for the drug in first-line pancreatic cancer. The first-line data showed six-month landmark analyses for daraxonrasib regimens that compared favorably to historical gemcitabine plus nab-paclitaxel results, though progression-free survival and overall survival curves were not provided due to immature data with medians not yet reached.

Mizuho views the ongoing RASolute 303 study as well-positioned based on daraxonrasib’s performance in second-line treatment. The firm models $14 billion in risk-adjusted 2035 worldwide pancreatic cancer revenues for the drug.

The analyst reiterated the Outperform rating.

https://www.investing.com/news/analyst-ratings/mizuho-raises-revolution-stock-price-target-on-pancreatic-cancer-data-93CH-4631480

What Happened Inside Convenience Stores When Gas Hit $4

 Continuing our coverage of consumer behavior shifts at petrol stations and convenience stores, the U.S. national average for 87-octane gasoline has remained above the politically sensitive $4-a-gallon level for three weeks. Goldman analysts have released a new note indicating that a majority of convenience stores are seeing drivers buying less fuel and trading down in-store.

Bonnie Herzog, managing director and senior consumer analyst at Goldman, penned a note titled Q1 "Beverage Bytes," which covers a survey of 32,000 retail locations, or about 21% of convenience stores nationwide.

"Despite the improved outlook, it appears that some consumers are already changing their behavior as gas prices remain elevated (at ~$4/gallon). Our retailers are seeing consumers purchasing less fuel, downtrading within the store, and declining basket sizes," Herzog wrote in the note.

More than half of respondents (53%) said they are already seeing changed consumer behavior with gas prices around $4 a gallon, while another 37% expect behavior to shift if prices remain elevated. Only 11% said they have not noticed any change.

The most common pattern shifts in these convenience stores were consumers buying less fuel, trading down at the pump, trading down in-store, and buying fewer in-store items. A smaller share also said customers are simply driving less because of higher gas prices.

Last week, Herzog's team published a survey of 44,000 retail locations across the U.S. (about 28% of all tobacco outlets) that showed $4-a-gallon fuel had already sparked trading down among nicotine users: "Downtrading was strong in Q1, as roughly 80% of respondents indicated that deep-discount cigarettes gained share."

To sum up, the fuel price shock highlights just how sensitive consumers remain in an ongoing K-shaped economy, with working-poor households bearing the brunt of the financial pain.

https://www.zerohedge.com/markets/heres-what-happened-inside-convenience-stores-when-gas-hit-4