Pot stocks failed to light up for a second day on Monday even after President Donald Trump confirmed he’s considering an executive order loosening regulations on marijuana.
The Amplify Seymour Cannabis ETF (CNBS)
took a leg up in afternoon trading after Trump said he was weighing reclassifying the drug. Still, the fund was down nearly 7% with investors taking profits following a surge of more than 50% on Friday.
When asked Monday if he was looking at an executive order on rescheduling weed, Trump responded “We are considering that.”
“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,” he said. “So we are looking at that very strongly.”
