It's actually wild what the executive can get done in an election year... With the side effect of dangling bait for legislators to take a contrarian, nationally unpopular position.
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My actual issue with this is:
a) it should have been done sooner. Waiting until $election_year to do something popular has severely damaged the growth of cannabis industry
and b) it's another executive branch rule by decree that could be reversed as soon as 6 months from now after election day.
Not everyone agrees though. I don't want it legalized or normalized more.
Also to answer your question about weed stocks: I used to own cannabis stocks but dumped them about a year ago. Big mistake! They've doubled in price over the last week presumably from this news.