Shares of Canopy Growth Corp rose 19.2% on Monday amid reports that Donald Trump is considering changing the classification of marijuana, moving it to a less dangerous category. This could significantly simplify regulation in the cannabis industry. According to sources, Trump expressed interest in the issue at a charity dinner at his golf club, where participation cost $1 million per seat. Reclassification can increase the profitability of the sector, remove barriers to the cannabis trade, and boost the industry. Cannabis companies have previously provided financial support to Trump's political initiatives. The dinner was attended by Kim Rivers, CEO of Trulieve, who advocated for the reclassification and development of medical marijuana research. The Biden administration has also raised this issue, but has not completed the process. If the changes are implemented, it will be a significant step for the industry, which is facing regulatory hurdles even against the background of legalization in individual states.
