Very abnormal structure on this ABC, and if this isn't the bottom then I am reading this wrong and it's just the beginning of a massive downward move in the works. The risk is high, so to be clear: Why did this dump so hard? Why was this event a 'Sell the news'?
Simply put: The average retail investor, and other investors as well were pricing in a full marijuana rescheduling. Sadly, that's literally impossible for the US president to do so. However, Trump did exercise his executive authority to expedite the process of rescheduling. As of yesterday, the DEA says the process is still 'Pending' so fundamental news could create some unforeseen shifts in price on the short term.
Simply put: The average retail investor, and other investors as well were pricing in a full marijuana rescheduling. Sadly, that's literally impossible for the US president to do so. However, Trump did exercise his executive authority to expedite the process of rescheduling. As of yesterday, the DEA says the process is still 'Pending' so fundamental news could create some unforeseen shifts in price on the short term.
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