Will he or won't he? This is the question that's been front of mind for many marijuana stock investors over the past few days, as both credible media reports and President Trump himself fueled speculation that he will begin the process of decriminalizing the drug.
Comments from the President late Monday injected new bullishness into weed stocks the following day. Sector mainstay Green Thumb Industries (GTBIF 0.86%) surged more than 14% higher on this development.
Weed-supporting words
In a press conference in the White House's Oval Office, the President was asked whether he would issue an executive order (EO) directing the Justice Department to start the process of rescheduling pot.
Image source: Getty Images.
"We are considering that, yeah," Trump responded, "because a lot of people want to see it, the reclassification, because it leads to tremendous amounts of research that can't be done unless you reclassify. So we're looking at that very strongly."
Although he stopped short of a hard promise to issue that EO, his remarks were taken as one of the clearest indications yet that he would do so in the very near future.
OTC: GTBIF
Key Data Points
A massive change is (probably) coming
If rescheduling were to occur, it would de facto legalize marijuana throughout the U.S. This would be a monumental and historically significant event for the drug, not to mention the struggling industry that specializes in it.
Although companies like Green Thumb will face challenges regardless of the legal environment, they'll have a much easier time conducting their business if the present restrictions are lifted.
