Cannabis ETFs Light Up As Trump Eyes Marijuana Reclassification
Cannabis stocks and ETFs launched a blistering rally last week after President Donald Trump confirmed that his administration is considering a historic reclassification of marijuana to a less restrictive drug category.
Tilray is up around 35% in the past 2 days. Check its live prices here.
Trump announced a ruling on moving cannabis from Schedule I, where it is grouped with heroin and cocaine, to Schedule III would be made “in the coming weeks.” The change would ease federal regulations, lower punitive taxes, improve banking access, and drive medical study, potentially altering the industry’s growth pattern.
The policy signal set cannabis stocks ablaze on Monday: Trulieve Cannabis (OTCQX:TCNNF) increased 35%, Tilray Brands Inc (NASDAQ: