RYTHM, a holding company for cannabis brands, reported $1.2 million in net income on $23 million in revenue for Q2, marking a 73% increase from the prior quarter. The company's stock has risen approximately 56% over the last six months. The surge on Tuesday was also attributed to a possible federal reprieve on a ban on hemp-derived THC products, which is currently set to take effect in November. Lawmakers are considering delaying enforcement of the ban by one month to negotiate comprehensive regulation, while the DEA is also weighing reclassifying recreational cannabis from Schedule I to Schedule III of the Controlled Substances Act.