Trump Administration Plans to Reclassify Marijuana, Sparking Surge in Related Stocks

Deep News04-23 03:22

On April 22, 2026, sources familiar with the matter from the White House indicated that the Trump administration is set to advance the reclassification of marijuana as early as April 23. This news triggered an immediate surge in stocks and exchange-traded funds (ETFs) related to the cannabis sector.

The AdvisorShares Pure US Cannabis ETF saw its share price jump by as much as 23% after trading resumed, marking its largest intraday gain since December 16, 2025. The Amplify Alternative Harvest ETF also rose by up to 15%. Among individual stocks, Tilray surged by 18%, Aurora Cannabis climbed 15%, while shares of Cronos, Canopy Growth, and other companies also posted significant gains.

It is understood that the executive order is expected to direct the U.S. Drug Enforcement Administration (DEA) or the Department of Justice to issue a final rule downgrading marijuana from a Schedule I substance—the most restrictive category under the Controlled Substances Act—to Schedule III, which includes drugs such as ketamine. This move would mark the first federal acknowledgment of marijuana's medical applications and could pave the way for expanded medical research.

Previous rumors about the Trump administration potentially easing marijuana restrictions had circulated in the market, but the clarity of this latest announcement directly fueled a sharp reaction in capital markets.

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