Cannabis investors woke up to big news this week as cannabis stocks spiked following comments from former President Donald Trump. In a post on Truth Social, Trump shared a video praising the health benefits of hemp-derived cannabidiol (CBD), sparking fresh optimism across the cannabis sector.
Shares of Tilray, Canopy Growth, and Aurora all surged in double digits after the announcement, highlighting how sensitive cannabis stocks are to political signals. The video described CBD as a potential game-changer for senior healthcare, offering an alternative to expensive prescription drugs. Investors quickly interpreted this as a sign of growing mainstream acceptance of cannabis-derived products.
Back in 2018, the Farm Bill legalized hemp-derived CBD nationwide. More recently, he hinted that his administration would reclassify cannabis from a Schedule I drug where it currently sits alongside heroin and LSD to Schedule III, a less restrictive category that includes substances like steroids and Tylenol with codeine.
If enacted, that change could dramatically impact cannabis stocks. Reclassification would not only ease criminal penalties but also reduce tax burdens for cannabis businesses. It could also pave the way for more medical research, opening new opportunities for both Big Pharma and cannabis companies. Legal experts say new Health and Human Services standards acknowledging credible scientific support for cannabis use are already laying the groundwork.
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