Stock Track | SNDL Inc. Soars 5.31% on Regulatory Optimism Over Trump's Expected Cannabis Reclassification

Stock Track12-18

SNDL Inc. (SNDL) surged 5.31% during intraday trading on Wednesday, outperforming the broader market. The rally was part of a sector-wide uptick in cannabis stocks.

The surge follows reports that former President Donald Trump is expected to sign an executive order to fast-track the reclassification of cannabis from Schedule I to Schedule III. This move could significantly benefit cannabis companies by easing financial restrictions, including the removal of IRS Section 280E, which currently prevents them from deducting standard business expenses.

Investor optimism has driven strong buying activity across the sector, with peers like Canopy Growth and Tilray Brands also posting gains. The potential regulatory change is seen as a long-awaited catalyst for the industry.

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