The Globe and Mail reports in its Tuesday, Sept. 30, edition that shares of pot companies rose after President Donald Trump highlighted the benefits of cannabidiol (CBD) for senior health care in a social-media post. A Reuters dispatch to The Globe reports that Mr. Trump mentioned that his administration might reclassify marijuana, potentially easing penalties related to its use. Mr. Trump stated that hemp-derived CBD could "revolutionize senior healthcare" by reducing disease progression and serving as an alternative to prescription drugs. U.S.-listed shares of Canopy Growth gained 17 per cent and Tilray Brands jumped 60.8 per cent, while Cronos Group added 13.1 per cent and Aurora Cannabis gained 27.9 per cent.
Exchange traded funds by AdvisorShares surged 28.1 per cent and Roundhill gained 26.3 per cent and are both on track for their biggest quarterly gains on record of more than 70 per cent each. "MSOS, the largest U.S. marijuana-focused ETF, is benefiting from President Trump's unexpected support for CBD, which is a boost for this struggling sector," said Bradesco BBI analyst Ben Laidler. Marijuana, however, remains classified as a Schedule I substance under the Controlled Substances Act.
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