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Pot stocks drop, after surging to months high following marijuana reclassification move



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** Pot stocks drop after surging to months high on Tuesday, after U.S. DOJ moved to reclassify cannabis as a less dangerous drug

** Morningstar analyst Kristoffer Inton says it may be due to "people taking money off the table given how much the stocks went up"

** Adds that Tuesday's "announcement is just a step in a multi-step process, there's a lot left for the rescheduling to happen"

** Pot firms Canopy Growth WEED.TO and Aurora Cannabis ACB.TO down 21% and 27%, respectively

** Cresco Labs CL.CD , Jushi Holdings JUSH.CD, Ayr Wellness AYRa.CD, Green Thumb GTII.CD and Trulieve Cannabis TRUL.CD down between 6.7% and 13%

** Nasdaq-listed Tilray Brands TLRY.O falls 17%

** ETF AdvisorShares Pure US Cannabis MSOS.P down 8.5%

** MSOS, which climbed 29% over the last five days, closed at a 52-week high yesterday, according to Beacon Research



Reporting by Tanay Dhumal in Bengaluru

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