After amassing enormous losses over the past five years, cannabis stocks received a much-needed shot in the arm last week when President Donald Trump announced plans to officially reschedule marijuana from Schedule I to Schedule III under the Controlled Substances Act (CSA).
The April 23 announcement comes on the heels of Trump’s April 18 executive order seeking to increase funding and accelerate research for the use of psilocybin and other psychedelics as medical treatments for serious mental illnesses.
