cbdMD Stock Skyrockets 127% on Trump's CBD Endorsement
Former President's call to include CBD under Medicare for seniors sparks a massive rally in the cannabis sector, with YCBD leading the surge.
Shares of cbdMD Inc. (YCBD) exploded on Monday, surging over 127% in a dramatic trading session fueled by a social media endorsement from former President Donald Trump. The rally was ignited after Trump posted a video on his Truth Social platform advocating for the health benefits of hemp-derived CBD for seniors and suggesting its inclusion under Medicare coverage.
The unprecedented price movement was accompanied by a colossal spike in trading volume, which registered at more than 41 times the stock's daily average. This surge of investor interest highlights the significant impact of the former President's statements on the cannabis sector, which has been eagerly awaiting federal reform.
The video shared by Trump, produced by The Commonwealth Project, frames CBD as a potential "gamechanger" for pain and stress relief among older adults. It calls for , a move that would open a vast and lucrative market for companies like cbdMD. The endorsement also referenced the 2018 Farm Bill, championed by Trump during his presidency, which federally legalized hemp.
The news sent shockwaves through the broader cannabis market, with . The event has renewed speculation that the administration may be considering further steps toward federal cannabis reform, including the potential reclassification of marijuana from its current Schedule I status. For cbdMD, the attention comes as the company continues to expand its product lines and distribution channels.
While the long-term policy implications of the endorsement remain uncertain, the market's reaction was immediate and decisive. Investors will be closely watching for any further policy signals from Washington. The surge positions cbdMD as a major beneficiary of any potential changes to federal law, as on the renewed optimism for the industry's future.