Cannabis Stocks Surge After Trump Shares Video Promoting CBD Medicine

[image: Cannabis Investors & Venture Capital Firms]

Publicly traded cannabis stocks jumped on Monday after President Donald
Trump (R) this weekend shared a video on social media touting the medicinal
benefits of cannabidiol (CBD) for senior citizens, Reuters reports.

U.S.-listed shares for public cannabis companies jumped after Trump shared
the video on Sunday afternoon, including:

- Canopy Growth (WEED.TO), up 18.3%
- Tilray Brands (TLRY.O), up 42%
- Cronos Group (CRON.TO), up 15.5%
- Aurora Cannabis (ACB.TO), up 25.4%

Additionally, the cannabis exchange-traded funds AdvisorShares (MSOS.P) and
Roundhill (WEED) both gained 21.8% and 21.6%, respectively, the report said.

The video shared by the president primarily focuses on CBD, a
non-psychoactive cannabinoid often derived from hemp that, according to
preliminary research, could carry significant and potentially underutilized
health benefits. However, the video also references a cable news clip that
suggests the U.S. could see nearly $64 billion in annual cost savings by
federally legalizing cannabis so it could be “fully integrated into the
healthcare system.”

Meanwhile, the president indicated at a private fundraiser event earlier
this year that he was considering moving cannabis from its Schedule I
status under federal law.

Last year, former President Joe Biden (D) formally initiated the move to
reschedule cannabis from Schedule I to Schedule III, but the plan stalled
under the DEA ahead of the transition into the second Trump presidency.
Since then, Congress appointed a new DEA Administrator who has taken no
further action on the issue, and the DEA judge overseeing the federal
rescheduling hearings — which were postponed in January — has now retired.