Cannabis stocks spike on reports Trump plans to ease federal pot restrictions
Cannabis stocks surged Friday in the wake of reports that President Trump is preparing to reclassify marijuana under federal law — a long-awaited shift that investors say could loosen restrictions and revive a battered industry.Traders piled into pot firms on expectations that Trump will move cannabis from Schedule I to Schedule III under the Controlled Substances Act, a step that would treat marijuana as less dangerous and acknowledge it as acceptable for medical use.The rally marked one of the biggest sin ...