Core Viewpoint - The reclassification of marijuana by President Trump as a Schedule III drug opens up significant opportunities for the cannabis industry, particularly for companies like Scott's Miracle Grow and its Hawthorne subsidiary, which provides cannabis growing supplies [1][4][6]. Company Developments - Scott's Miracle Grow plans to combine its Hawthorne subsidiary with a dedicated pure-play cannabis company next year, indicating a strategic shift to capitalize on the evolving cannabis market [2][12]. - The CEO of Scott's Miracle Grow, Jim Hagadorn, expressed enthusiasm about the executive order, highlighting the culmination of a decade-long effort to achieve this change [3][4]. Industry Implications - The reclassification allows for increased medical research on cannabis, which was previously restricted under Schedule I classification, thus potentially leading to new medical applications and benefits [4][6]. - Legal cannabis businesses can now benefit from a reduced federal tax rate of 21%, down from an 80% rate, which was previously punitive and hindered profitability [6][7]. - The change is expected to help legitimate markets thrive while reducing the influence of illicit operators and protecting children [7][8]. Market Reactions - Following the announcement, there was initial stock price volatility, with some stocks experiencing a spike before settling down, indicating a "sell on the news" reaction from investors [11].

Okay, happening right now, the president is signing that executive order to reclassify marijuana as a less regulated schedule 3 drug from a schedule one. Let's listen in for a moment. >> And that is exactly what we're doing.This is really something having to do with common sense. And it's something having to do with the fact that so many people that I respect ask me to do. People that are having problems, big problems. They are having big problems with illness with cancer in particular.I now want to ask Dr. ...

Core Viewpoint - The U.S. government is moving towards reclassifying marijuana, which may facilitate research and development of new medical marijuana products [1] Group 1: Regulatory Changes - An executive order from President Trump is anticipated to reclassify marijuana, potentially easing federal restrictions [1] - This reclassification could lead to increased research opportunities in the medical marijuana sector [1] Group 2: Industry Implications - Easing restrictions may result in the development of new medical marijuana products, impacting the pharmaceutical and healthcare industries [1] - The change in classification could stimulate investment and innovation within the cannabis industry [1]

Sir, on the issue of drugs, is it is it accurate that you are considering an executive order to reclassify marijuana under the control. >> We are considering that. Yeah.>> Are you planning >> because uh 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. So we are looking at that very strongly. ...