Cannabis stocks rise after Trumps considers executive order to reclassify marijuana

U.S.-listed shares of cannabis firms jump

President Donald Trump said on Monday he is considering signing an executive order to reclassify marijuana as a less dangerous drug, though he offered no timeline for the move

Shares of Canopy Growth WEED.TO, CGC.O, Cronos Group CRON.TO, CRON.O, SNDL SNDL.CD, SNDL.O and Aurora Cannabis ACB.TO, ACB.O up between 3.3% and 9.4%

Tilray Brands' TLRY.TO, TLRY.O stock jumps 21.6%

The stocks remain above the levels they were at when news of the possible reclassification broke last week

A reclassification could ease criminal penalties and reshape the pot industry by lowering tax burdens and making it easier for firms to secure funding