Pot stocks climb on report Trump considers reclassifying marijuana as less dangerous

Canopy Growth

11/08/2025 11:25

** U.S.-listed shares of cannabis firms jump in premarket trading

** Trump considers reclassifying marijuana as less dangerous drug, the Wall Street Journal reported on Friday, citing people familiar with the matter

** U.S.-listed Canopy Growth CGC.O surges 24.8%, Cronos Group CRON.O jumps 22.6% and Tilray Brands TLRY.O climbs 26.3%

** SNDL SNDL.O and Aurora Cannabis ACB.O gain between 10.7% and 11.6%, respectively

** Advisorshares Pure US Cannabis ETF MSOS.P jumped over 9.1%

** Report says Trump, at a $1 million-per-plate fundraiser this month, told attendees he was interested in the change

** Attendees include Trulieve CEO Kim Rivers, who urged Trump to pursue reclassification and expand medical marijuana research

(Reporting by Nikhil Sharma)

((Nikhil.Sharma@thomsonreuters.com))