Another concern: Trump’s supposed interest in rescheduling cannabis comes right when lawmakers at both the federal and state levels are trying tooutlaw certain synthetic cannabinoid products derived from hemp.

Researchers found a chasm between the health reasons for which the public seeks out cannabis and what gold-standard science actually shows about its effectiveness.

Aurora Cannabis ( ACB +14.72%) stock leapt 14.5% "higher" (get it? Marijuana? High?) through 11:55 a.m. ET Friday on some positive marijuana news out of the White House. As The Washington Post reports, President Trump wants to legalize marijuana (sort of), and marijuana investors are overjoyed at the prospect.

Tilray Brands and Canopy Growth jumped more than 40 per cent in New York trading. A specialist fund, the Amplify Seymour Cannabis ETF, rallied around 51 per cent, putting it on track for its best day on record. Yet even with Friday’s spike, the ETF is still heading for its fifth straight annual loss.

Cannabis shares skyrocketed Friday following reports that President Trump is directing federal agencies to reclassify marijuana, a monumental shift that could eliminate punitive tax restrictions on the industry.

California’s state government was handed an embarrassing court loss Tuesday after an Orange County judge ruled that the Department of Cannabis Control, or DCC, failed to comply with its own laws designed to stop illegal cannabis from leaving the state.

Tilray’s stock, and shares of other cannabis companies, soared after reports provided investors hope that President Trump would move to have marijuana reclassified as a much less dangerous drug than it is now.

Gov. Kathy Hochul called for Reid to resign after state regulators experienced roadblocks in an investigation into certain cannabis products.