It is reported that the U.S. plans to significantly relax cannabis restrictions, leading cannabis stocks and ETFs to surge by 40%
Foreign media reports that the White House is preparing to significantly relax federal regulations on marijuana, leading to a substantial rise in marijuana-related U.S. stocks on Friday.
U.S. CNBC cited sources reporting that President Trump is expected to sign an executive order as early as next Monday to readjust the federal classification of marijuana, which will subject marijuana companies to different tax regulations and help attract investment.
Marijuana producers Tilray Brands (TLRY.US) and Canopy Growth (CGC.US) surged over 28% and 38%, respectively; marijuana greenhouse operator Innovative Industrial Properties (IIPR.US) also rose over 12%. Amplify Seymour Cannabis ETF (CNBS.US) jumped about 40%
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