Cannabis culture is being celebrated today on “4/20” with weed lovers gathering at events to partake in the plant and enjoy retail promotions.
While the history of 4/20 is disputed, most trace it back to a group of students who attended San Rafael High School in California in the 1970s. The students would meet by a statue on campus after classes and extracurriculars were over for the day at 4:20pm and use the phrase “4/20” to refer to consuming cannabis.
The lingo spread widely via the group’s association with the rock band Grateful Dead.
Fast-forward to 2024 and April 20, written as 4/20 in US and Canadian date form, is now considered the official marijuana holiday globally.
And both cannabis lovers and investors alike have much to celebrate this year with it widely anticipated that cannabis will be rescheduled as a lower-risk drug in the United States ahead of the November presidential election, seen as a precursor to federal legalization, and marijuana companies’ fortunes are seeing a turnaround.
Rescheduling is the big focus of 2024.
The Drug Enforcement Administration is currently considering a recommendation from the Department of Health and Human Services recommending marijuana be rescheduled from a Schedule I
