What Sparked The Cannabis Stock Rally On Thursday?
Cannabis stocks blazed higher on Thursday after former Rep. Matt Gaetz (R-Fla.) reportedly said cannabis reform is “on the horizon.”
What Happened: Gaetz, who was U.S. President Donald Trump’s first pick for attorney general before he withdrew from consideration, suggested that “meaningful” cannabis reform is coming soon in an op-ed published by the Tampa Bay Times on Thursday.
Marijuana Moment reported Gaetz expressed confidence Trump will move cannabis from Schedule I to Schedule III of the Controlled Substances Act, which “won’t solve every problem,” but is a “necessary step” for cannabis reform, he said.
“There is meaningful change finally on the horizon, thanks to President Donald Trump and his leadership in supporting the rescheduling of cannabis from a Schedule I drug to a Schedule III drug,” Gaetz said.
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