Cannabis stocks rise on report saying Trump may ease curbs this week
U.S.-listed shares of cannabis companies extend gains after CNN reports that President Donald Trump is expected to sign an executive order on easing restrictions on the Schedule I narcotic and deem it a less dangerous drug on Thursday
Shares of Cronos Group CRON.TO CRON.O, and Aurora Cannabis ACB.TO,
Tilray Brands TLRY.TO, TLRY.O up 5%, and Canopy Growth WEED.TO, CGC.O jump 15%
Stocks have soared since reports last week emerged of Trump's plan to ease the curbs
Under current federal law, marijuana remains a Schedule I controlled substance, which are substances with no currently accepted medical use and a high potential for abuse, alongside LSD and heroin, despite state-level medical legalization in places like California
A reclassification could ease criminal penalties and reshape the pot industry by lowering tax burdens and making it easier for firms to secure funding
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