The US cannabis sector experienced a significant surge in stock prices following an unexpected intervention from President Donald Trump, who posted a video on his Truth Social platform endorsing cannabis-derived CBD products.
The nearly three-minute-long clip, produced by the Commonwealth Project, touts CBD as a 'gamechanger' for senior healthcare, specifically highlighting its potential as a pain and stress reliever.
Crucially, the video also advocated for the inclusion of CBD products in Medicaid coverage, a proposal that could unlock a massive new market for the industry.
In response to the post, stocks for major cannabis companies saw sharp rises: Canopy Growth, Tilray, and Cronos Group all experienced a boost, as did MSOS, an AdvisorShares exchange-traded fund (ETF).
The market’s reaction highlights the sensitivity of the sector to political signals, particularly those from a sitting President, which can alter regulatory and market landscapes overnight.
The Commonwealth Project praised Trump for his 2018 farm bill, which legalised hemp cultivation, creating the regulatory pathway for the current CBD market.
This renewed attention from the White House, particularly focusing on the health benefits and potential government funding, has generated strong investor optimism, suggesting a potential loosening of political resistance to cannabis-related products for medical use among the senior demographic.
The move has been interpreted as a calculated push to promote products derived from hemp, differentiating it from the ongoing debate around recreational marijuana use.
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