Top Cannabis Stocks to Buy Amid Trump's CBD Backing

President Trump's video promoting CBD health benefits sent cannabis stocks soaring, with WM Technology (MAPS) seeing a 17% jump. The company owns Weedmaps, a consumer platform, and Weedmaps for Business, a B2B software solution. MAPS stock hit resistance at $1.35 but is likely to retest $1.25. The business has a rising net cash balance and remains profitable, making it a unique software bet in the cannabis sector. One analyst has a price target more than twice the current price.

Cannabis stocks experienced a significant rally following U.S. President Donald Trump's video promoting the health benefits of cannabidiol (CBD) for senior healthcare. The video, posted on his Truth Social account, highlighted CBD's potential to "revolutionize senior healthcare" by slowing disease progression and providing alternatives to prescription drugs Cannabis stocks rally after Trump posts video touting CBD use for senior healthcare^[1].

The video sparked a wave of optimism among investors, with leading cannabis firms such as Tilray Brands (NASDAQ:TLRY), Canopy Growth (NASDAQ:CGC), Cronos Group (NASDAQ:CRON), and Aurora Cannabis (NASDAQ:ACB) seeing double-digit gains. WM Technology (MAPS), which owns Weedmaps, a consumer platform, and Weedmaps for Business, a B2B software solution, saw a notable 17% jump in its stock price Cannabis stocks and marijuana rescheduling hopes high after Donald Trump social media post^[2].

WM Technology's stock hit resistance at $1.35 but is expected to retest $1.25, according to market analysts. The company's rising net cash balance and profitability make it a unique software bet in the cannabis sector. One analyst has set a price target more than twice the current price, indicating optimism about the company's growth prospects.

While the video is seen as a positive signal for the cannabis industry, it remains unclear whether it will lead to concrete policy changes. The video was produced by The Commonwealth Project, a Massachusetts-based medical marijuana advocacy organization backed by billionaire Howard Kessler. Kessler is reportedly a member of Trump's Mar-a-Lago Club, and The Commonwealth Project was one of the organizations set to participate in historic hearings about relaxing marijuana’s status under federal law Cannabis stocks rally after Trump posts video touting CBD use for senior healthcare^[1].

Cannabis industry insiders have expressed mixed sentiments about the video. Anthony Coniglio, CEO of real-estate investment trust (REIT) NewLake Capital Partners, noted that the video signals the maturity of cannabis reform discussions. Adam Stettner, CEO of FundCanna, stated that the video reflects a shift in White House thinking about cannabis reform but emphasized the need for a full federal framework Cannabis stocks and marijuana rescheduling hopes high after Donald Trump social media post^[2].

Despite the positive market reaction, the cannabis industry remains cautious about the potential impact of the video on policy changes. Marijuana is still classified as a Schedule 1 substance under the Controlled Substances Act, indicating a high potential for abuse and no currently accepted medical use. Former President Joe Biden previously directed the Department of Health and Human Services to review marijuana’s classification, but a later Justice Department proposal to reclassify cannabis as a Schedule 3 substance remains in limbo Cannabis stocks and marijuana rescheduling hopes high after Donald Trump social media post^[2].

In conclusion, President Trump's video promoting CBD health benefits has sent cannabis stocks soaring, with WM Technology (MAPS) seeing a notable 17% jump. While the video is seen as a positive signal for the industry, the impact on policy changes remains uncertain. Investors should closely monitor the situation and consider the potential risks and opportunities in the cannabis sector.