🚨🇺🇸 BREAKING: TRUMP TO SIGN MARIJUANA RECLASSIFICATION ORDER AS SOON AS MONDAY, CANNABIS STOCKS EXPLODE
The market is pricing in a new era.
Trump is expected to sign an executive order as soon as Monday directing federal agencies to reclassify marijuana from Schedule I (alongside heroin) to Schedule III (alongside Tylenol with codeine), according to CNBC.
Cannabis stocks went vertical on the news.
Canopy Growth surged 52%.
Tilray jumped 44%.
The Amplify Seymour Cannabis ETF rallied 54%, its best day on record.
The reclassification would allow cannabis companies to fall under different tax regulations, encourage banking access, and open the door to institutional investment.
Tilray CEO Irwin Simon:
"I'm a lot more optimistic than I ever have been."
The Drug Enforcement Administration is expected to finalize rescheduling rules by summer if Trump signs the order.
This won't legalize marijuana federally, but it dismantles the framework that treated it the same as heroin for decades.
The Biden administration talked about rescheduling for years.
Trump is getting it done in his first year back.
One cannabis law firm partner called it "the beginning of a new era of public health policy" that "dismantles nearly a century of outdated drug policies."
Campaign promise. Kept.
Source: CNBC
Trump was furious after an XRP lobbyist lied to him. Now, he's gone full Bitcoin maxi for the reserve, and Ripple has to pay a $50m fine!
Love to see it! 😂
The poor pay no taxes, leaving the rest to pay the total. Yes this includes the rich, but it also includes the middle class which takes the brunt of the burden