President Trump just said he might reclassify cannabis as having a lower danger level.

On that news, shares of Canopy Growth (CGC) jumped more than 26%. Trulieve (TRUL) jumped 36%. And Tilray (TLRY) closed the day up about 42%. While impressive, all could see higher highs the moment Trump acts on the drug.  “We’re looking at reclassification,” Trump told CNBC. “We’ll make a determination … over the next few weeks.”

If he does reclassify cannabis as a Schedule 3 drug from Schedule 1, it would allow for more research into the drug, and provides more tax benefits to the cannabis industry.

With the story gaining substantial momentum, we expect for related stocks, such as Canopy Growth, Trulieve, and Tilray to rally even higher. 

 We also expect to see some of the top cannabis ETFs hit higher highs, too, including:

The Advisor Shares Pure US Cannabis ETF (MSOS)

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There’s the Advisor Shares Pure US Cannabis ETF (MSOS). 

With an expense ratio of 0.6%, the ETF was the first actively managed U.S.-listed ETF with dedicated cannabis exposure focusing exclusively on U.S. companies, including multi-state operators, as noted by Advisor Shares.  Some of its top holdings include Green Thumb Industries, Trulieve Cannabis, Curaleaf Holdings, and Jushi Holdings to name a few.

Sincerely,

Ian Cooper