Tilray (TLRY) is up 17.5% in premarket trading after President Donald Trump posted a video on social media Sunday that touts medical benefits of “hemp-derived CBD” for seniors. Trump suggested that covering CBD under Medicare would be “the most important senior health initiative of the century.” The video Trump posted also features a Fox News clip describing the economic benefits of medical marijuana legalization, saying that on an annual basis it would amount to cost savings of “$64B a year if cannabis is fully integrated into the healthcare system.” The video also states that “it’s time to educate doctors on the endocannabinoid system, provide Medicare coverage for CBD and give millions of seniors the support they deserve.” Other publicly traded companies in the space include Aurora Cannabis (ACB), CV Sciences (CVSI), Canopy Growth (CGC), Cronos Group (CRON), Goodness Growth (GDNSF), Green Thumb Industries (GTBIF), IGC Pharma (IGC), Trees Corporation (CANN) and Trulieve Cannabis (TCNNF).
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