Cannabis Stock Surge: Cannabis producer stocks saw significant gains in U.S. premarket trading, with Tilray Brands up 29% and Canopy Growth up 21%, following reports that President Trump may push for reclassifying marijuana to a less dangerous category.
Proposed Reclassification: Trump is considering moving cannabis from Schedule I, which indicates no medical use, to Schedule III, which allows for accepted medical uses but still recognizes potential for abuse and dependence.
Discussions with Officials: Trump held discussions with House Speaker Mike Johnson and several marijuana industry executives regarding the reclassification, although no final decision has been made yet.
Previous Administration's Actions: In March 2024, the Biden administration's Department of Justice proposed rescheduling marijuana to Schedule III, but the DEA later canceled a hearing on the matter.
SNDL Inc., through its wholly owned subsidiaries, is a vertically integrated cannabis company and a private-sector liquor and cannabis retailer in Canada. Its retail banners include Ace Liquor, Wine and Beyond, Liquor Depot, Value Buds and Spiritleaf. With products available in licensed cannabis retail locations nationally, its consumer-facing cannabis brands include Top Leaf, Contraband, Palmetto, Bon Jak, La Plogue, Versus, Value Buds, Grasslands, Vacay, Pearls by Gron, No Future and Bhang Chocolate. Its liquor retail segment includes the sales of wines, beers and spirits. Its cannabis retail segment includes the sales of cannabis products and accessories through corporate-owned and franchised cannabis retail operations. Its cannabis operations segment operates as a licensed producer that grows cannabis using indoor facilities and manufactures cannabis products, providing cannabis processing services. Its investments segment includes deployment of capital to investment opportunities.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
