A big rally in cannabis stocks Friday on reports that the administration may revamp marijuana's Federal drug classification may herald the start of a new bull run, according to Tim Seymour, founder of Seymour Asset Management. A source told CNBC that President Donald Trump is expected to issue an executive order to reclassify marijuana as soon as Monday. The Washington Post reported earlier that Trump was poised to tell agencies to move cannabis to a less restrictive Schedule III drug from a Schedule I. Seymour, whose firm manages the Amplify Seymour Cannabis ETF (CNBS) , said the change could allow banks and major U.S. exchanges to warm up to the industry even without complete legalization. That could pave the way for global institutional investors to begin buying the stocks. "Investors w
One cannabis investment insider thinks the industry will keep rallying
CNBC Investing8 hrs ago
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