The cannabis sector as a whole is seeing strong upside today, with investors in a broad range of stocks hitting the bid. That's because a very critical piece of news came across the tape last week: that President Trump is reportedly looking to reclassify marijuana.
Doing so would allow for greater medical research and expand the use cases currently provided for by law. With many marijuana experts cheering this news, as it would be a first step toward legalization (as other major developed countries have done), opening up the medical cannabis sector for business could have big impacts on companies that are already operating in this space. It would also allow new entrants to join the party, with IRS rules tied to business deductions and various loan products leading to a surge of activity in this sector that's simmered down of late.
