Cannabis sector stocks jumped Monday after reports circulated that President Donald Trump told donors he will consider easing federal restrictions on marijuana.
The Wall Street Journal and CNN both reported Friday that the president, who endorsed a failed adult-use marijuana legalization measure in Florida last year, pledged to mull over the cannabis industry’s pet issue after receiving millions in donations from the industry.
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The news that Trump is considering marijuana rescheduling boosted shares in marijuana multistate operators such as Tallahassee-based Trulieve Cannabis.
Downgrading cannabis’ status under federal law would unlock profound benefits for the industry, including federal tax relief.
Trulieve CEO Kim Rivers was present at the $1 million-per-plate fundraiser at Trump’s New Jersey golf club where the president made his pledge, according
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