Tilray, Canopy And Other Weed Stocks Are Rallying In Friday Pre-Market— What’s Going On?
The stock prices of major cannabis companies like Tilray Brands (NASDAQ:TLRY) and Canopy Growth (NASDAQ:CGC) skyrocketed 34.88% and 27.46%, respectively, in premarket trading on Friday, following reports of President Donald Trump‘s plans to relax federal regulations on marijuana.
Meanwhile, Aurora Cannabis Inc. (NASDAQ:ACB) surged 20%, Cronos Group Inc. (NASDAQ:CRON) gained 19% and Organigram Global Inc. (NASDAQ:OGI), and SNDL Inc. (NASDAQ:SNDL) rose 12% and 34.7% respectively.
Reclassification Of Cannabis In Focus
This surge was a direct result of the news that Trump is set to instruct federal agencies to reclassify marijuana as a Schedule III drug, according to a report …