Trump acknowledges that an Executive Order to reconsider marijuana's classification is being evaluated.
Trump's Potential Executive Order: President Trump is considering an Executive Order to reclassify marijuana from Schedule I to Schedule III under the Controlled Substances Act, which would facilitate medical research and provide financial benefits for cannabis businesses.
Impact on Cannabis Industry: While this reclassification would not legalize marijuana federally, it would allow for increased testing of its medical benefits and potentially improve the financial landscape for marijuana-related companies.
Market Reaction: The news has led to a positive response in the cannabis stock market, with companies like Ascend Wellness, Curaleaf, and Green Thumb Industries seeing increased interest.
Cannabis ETFs: Various cannabis-focused exchange-traded funds (ETFs) such as AdvisorShares Pure Cannabis ETF and Amplify Alternative Harvest ETF are also impacted by the developments in the cannabis sector.
About the author









