Pot stocks just notched their biggest weekly rally since March 2020 amid hopes of a lower-risk rating from the DEA

• America’s marijuana industry has felt a prolonged slump as the drug remains classified as dangerous as heroin.
• But pot stocks rallied last week on the news that the DEA agreed to review cannabis’s risk-rating. 
• A lower risk level could give cannabis firms access to banking services and stock-market listings.

Marijuana stocks ended Friday’s trading with their best week since March 2020 on the hopes that a review by the Drug Enforcement Administration could lower the drug’s risk rating. 

The MJ PurePlay 100 Index – which contains 100 cannabis-related stocks – notched its best weekly gain in two and a half years, rising 28%. The Roundhill Cannabis ETF gained a record 42% last week.