Trump’s Marijuana Plan Sparks A Cannabis ETF Rally; Can It Last?
Cannabis ETFs soared after U.S. President Donald Trump announced that he is mulling an executive order regarding the reclassification of marijuana as a less dangerous substance. Such a move is likely to transform the industry by providing access to funding.
“We are looking at that very strongly,” said Trump on Monday, referring to reports that marijuana could be moved to Schedule III from Schedule I under the Controlled Substances Act. While no final decision has been made and the Drug Enforcement Administration must still approve any change, markets wasted little time reacting.
Cannabis ETFs Rise On Policy Momentum
The Roundhill Cannabis ETF (BATS:WEED) reached a 52-week high on Tuesday, surging over 226% from …