Trump says he's 'strongly' considering reclassifying pot via executive order

Industry Overview - Cannabis stocks experienced a downturn for a second consecutive day despite President Trump's consideration of an executive order to loosen marijuana regulations [1] - The Amplify Seymour Cannabis ETF (CNBS) saw a significant drop of nearly 7% after a previous surge of over 50% on Friday, indicating profit-taking by investors [2] Regulatory Changes - President Trump indicated that he is "considering" an executive order to reclassify marijuana, which could lead to increased research opportunities [2] - Reports suggest that the reclassification would move marijuana from a Schedule I substance to a Schedule III drug, aligning it with less regulated substances like steroids and Tylenol with codeine [3] Market Sentiment - The cannabis sector experienced a rally on Friday, marking the Amplify Seymour fund's best day on record and putting it on track to end a four-year losing streak [3] - Industry insiders express optimism about the potential for regulatory changes to attract banks and large investors to the cannabis sector, with Tilray's CEO noting increased optimism [4] - Despite the overall positive sentiment, major cannabis producers like Tilray and Canopy Growth saw declines of 10% and 4.6%, respectively, while retailer SNDL dropped over 13% on Monday [4]