The real play here is GW Pharmaceuticals PLC- ADR $GWPH. It's a cannabis play with a genuine FDA approved drug (approved in June). It's been held back because the drug currently has full Schedule I restrictions, but the DEA is expected to reduce that to Schedule III or IV, meaning no real hurdle for docs to prescribe. Morgan Stanley just slapped a $197 price tag on it, and it's trading at only $152.$TLRY has a market cap of $15B, GWPH market cap is $4.3B. TRLY has about $25m cash ($54M debt) on books and has said it's about to raise money. GWPH has $440M in cash ($17M debt) and will generate revenue from its products.TRLY market cap increased by $7-8B because it can sell some product to pharma companies; GWPH is a real pharma company with its own source.If anyone really wants a true cannabis play with a super legitimate company, GWPH is the place to go. Here's the article from today: Morgan Stanley analyst David Lebowitz maintained an Overweight rating on GW with a $197 price target.The ThesisMorgan Stanley expects the DEA to drop Epidiolex from Schedule I — the same level as cocaine, heroin and other illegal substances — to Schedule IV, where Xanax, Ambien and Tramadol rank. At worst, it would fall to Schedule III alongside moderately to lowly addictive drugs like codeine and anabolic steroids, Lebowitz said. (See his track record here.)Regardless of the assignment, the drug would mark a milestone on the U.S. pharmaceutical timeline. Epidiolex, already the first cannabinoid-based therapy to gain FDA approval, would become the first such drug to launch domestically.The treatment would begin addressing Dravet and Lenox-Gastaut syndromes, which together account for 20,000 U.S. patients, but it could eventually see use in other seizure indications.“We expect the drug will be a blockbuster, with off label usage driving it to $1.3 billion by [the end of 2025],” Lebowitz said.Epidiolex is under review by the EMA and could launch in Europe in the first quarter. via Vas Research.