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0 0.00370713623725664 0.00556070435588496 0.00277108433734936 0.0537627432808156 0.084383688600556 0.0769138090824838 0.00092678405931416
Stock impact report

Cannabis stocks surge on report Trump seeks to ease restrictions [BNN Bloomberg (Canada)]

Tilray Brands, Inc. - Class 2 (TLRY) 
Last tilray brands, inc. - class 2 earnings: 3/2 04:05 pm Check Earnings Report
Company Research Source: BNN Bloomberg
U.S.-listed shares of Tilray Brands gained 28 per cent, while SNDL, Canopy Growth and ETF AdvisorShares Pure US Cannabis were up between 13.5 per cent and 32.5 per cent in premarket trading. According to the report from Thursday, Trump plans to direct agencies to reclassify marijuana as a Schedule III drug, reducing oversight of the plant and its derivatives to the same level as some common prescription painkillers and other drugs. “We believe this would open the door for pharmaceutical companies to seek approval for more cannabis products, which could then be dispensed the same as other prescription drugs,” TD Cowen analyst Jaret Seiberg said in a note. Trump's administration has been looking to reclassify marijuana as a less dangerous drug, a shift that could ease criminal penalties and reshape the industry through potentially lower taxes and by making it easier to secure funding. Funding remains one of the biggest challenges for cannabis producers, as federal restrictions Show less Read more
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