Cannabis Stocks Schedule III: MSOS +19%, Curaleaf +27%, Trulieve +20% — What Reclassification Means for Investors in 2026

# Cannabis Stocks Schedule III: MSOS +19%, Curaleaf +27%, Trulieve +20% — What Reclassification Means for Investors in 2026

> **Quick answer:** Attorney General Todd Blanche reclassified marijuana from Schedule I to Schedule III on April 23, 2026. Cannabis stocks surged across the board — MSOS ETF +19.39%, Curaleaf +27.3%, Trulieve +20.52%, Green Thumb +12.49% — with gains holding through the entire trading day. The primary catalyst is the elimination of Section 280E, a tax code provision that saddled cannabis companies with 60–70% effective tax rates for years. Reclassification does NOT legalize recreational marijuana, solve banking access, or enable interstate commerce. It is a tax story, and the numbers are enormous.

Cannabis stocks Schedule III reclassification on April 23, 2026 triggered the most significant single-day rally in the sector in years. The MSOS ETF surged 19.39% and Curaleaf Holdings shot up 27.3% as traders and institutional investors immediately priced in one thing above all else: the death of Section 280E. Here is every number that matters, what actually changes, what does not, and how to think about this as a long-term investor.

*This article is for informational purposes only and does not constitute financial advice. Consult a qualified financial advisor for personal financial decisions.*

## The Scoreboard: Every Major Cannabis Stock Move on April 23

The market reaction was fast, decisive, and — unusually for cannabis catalysts — it did not fade intraday. Gains held throughout the trading session, a sign that institutional money, not just retail momentum chasers, was moving into the sector.