President Trump Signs Cannabis Executive Order: Canopy Growth Collapses

President Trump signed an executive order to expedite the rescheduling of marijuana, causing Canopy Growth's stock to initially surge but then plummet by 12% as investors took profits. Despite the drop, the stock remains 50% above pre-rumor levels. The order accelerates DEA rulemaking but offers minimal immediate effects, with a 12-18 month timeline. Canopy Growth faces internal challenges and external competition, impacting its performance. The broader cannabis sector also saw declines, but the order enhances long-term prospects for U.S.-exposed cannabis stocks.