Trump, cannabis and Pot stocks
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Likewise, World Liberty Financial, a firm Trump and Steve Witkoff co-founded last year along with their sons, started trading a new token in September. It rose to 25 cents in late September but has yet to take off and on Friday fell to 14 cents.
The target is more than double the current stock price as ABTC is currently trading at $1.67, down 6% in a day. The $4 price target represents more than double the stock’s current level, implying about 140% upside if the analyst’s thesis plays out.
Trump is reportedly considering easy some restrictions on cannabis, and investors are piling into the sector on Friday.
Marijuana stocks Tilray Brands and Canopy Growth surged Friday following reports that President Donald Trump would loosen federal restrictions on marijuana.
Few investors have more notoriety than Bill Ackman and Michael Burry, the latter portrayed in "The Big Short."
An upcoming US Supreme Court ruling on the legality of the sweeping tariffs that President Donald Trump rolled out in April — briefly sending markets worldwide into a tailspin — could be the next test for stocks that have been flying high.
President Donald Trump is expected to reclassify marijuana from a Schedule I drug to a Schedule III drug on Thursday, CNN reports. Newsweek contacted the White House for comment via email after office hours.