Cannabis-related exchange-traded funds and stocks were lifted this week after President Biden’s pardon on Thursday of those convicted of simple marijuana possession.
The president also called for a review of how marijuana is categorized under federal law, with the moves boosting speculation that a loosening of cannabis restrictions is on the horizon.
Cannabis ETFs offering exposure to the industry in the U.S. have been beaten down badly over the past few years as the industry takes longer than anticipated to develop. Still, they had record gains Thursday after President Biden’s announcement.
(Originally posted by Cannabis News)