Cannabis stock surge

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Cannabis stocks surge after Trump endorses cannabidiol for senior healthcare
Yahoo Financeยท 2025-09-29 09:30
Group 1 - Shares of cannabis companies rose significantly in premarket trading following President Trump's social media post suggesting health benefits of cannabidiol (CBD) [1][2] - Canopy Growth and Tilray Brands saw their shares jump approximately 20%, while Cronos Group and Aurora Cannabis increased by 13.3% each [2] - The AdvisorShares Pure U.S. Cannabis ETF surged by 20.6%, on track for a record quarterly gain of around 70% [2] Group 2 - Trump's administration is considering reclassifying CBD, which could ease criminal penalties related to marijuana use [2][4] - Reclassification may eliminate the tax burden under Section 280E, allowing cannabis companies to take standard business deductions and potentially list on U.S. stock exchanges [4] - The largest U.S. marijuana-focused ETF, MSOS, is expected to rise by 20% at the open due to Trump's support for CBD [3]