Although many U.S. citizens have grown tired of hearing that cannabis will be rescheduled in the near future, it doesn’t stop weed stocks from surging every time there’s a new glimmer of hope.
Reports emerging this week that Donald Trump is currently contemplating rescheduling the plant sent shares flying during the trading session on Monday.
Tilray Brands Inc (TSE: TLRY) (NASDAQ: TLRY) (FRA: 2HQ) had its best day since 2021, gaining nearly 42 per cent. Meanwhile, Village Farms International Inc (NASDAQ: VFF) (FRA: 02V) observed a 34 per cent spike and Canopy Growth Corp (TSE: WEED) (NASDAQ: CGC) (FRA: 11L) ascended by 26 per cent.
“We are looking at reclassification,” Trump told reporters on Monday, stating that marijuana was a very complicated subject. “We will make a determination over the next few weeks.”
Exchange traded funds also had a heyday at the beginning of the week due to the president’s remarks. The AdvisorShares Pure US Cannabis ETF (NYSEARCA: MSOS) was up by 25 per cent by market close. Additionally, the Amplify Alternative Harvest ETF (NYSEARCA: MJ) had its best day of all time with gains exceeding 26 per cent.
Many pot stocks and ETFs remained elevated in the days after Trump’s comments as well.
It’s difficult to evaluate the leading U.S. politician’s credibility on the matter of cannabis potentially being considered a less dangerous drug at the federal level. As highlighted by The Washington Post in 2021, he made an average of 21 false or misleading claims every single day during his last term.
Nonetheless, Tilray’s CEO Irwin Simon believes that the president will most likely be able to make a change for the industry.
“Trump gets things done,” Simon told CNBC this week. “He wouldn’t be talking about it if he wasn’t going to get something done.”
Cannabis is currently legal in several American states, but the industry continues to be faced with banking challenges, research barriers and logistical issues due to its national status as a Schedule I substance. Marijuana’s current classification also prevents businesses from receiving federal tax deductions, thereby costing significant savings that would otherwise be possible.
Speculation about the accelerated rate of investments and lucrative financial environment that would result from dropping it down to Schedule III proved to be a market catalyst once again this week.
THE WEED STOCKS ARE ON FIRE THIS WEEK … Don't look past the 1 year time frame
Here are the ETFs from the Cannabis & Psychedelics ETFs segment on ETF Central with the best performance and most inflows over the past 5 days pic.twitter.com/9fOU8jL3h1
— ETF Tracker (@TheETFTracker) August 13, 2025
Read more: Virgin Atlantic puts rumours about flights with cannabis drinks to rest
Trump has voiced support for reform in the past
In September, the president vocalized his enthusiasm for medical cannabis and financial amendments in the American sector.
“We will continue to focus on research to unlock the medical uses of marijuana to a Schedule III drug,” Trump wrote on Truth Social, “and work with Congress to pass common-sense laws, including safe banking for state-authorized companies.”
That statement and his more recent ones at a press conference this week follow rumours circulating about the DEA planning to reschedule the drug last year. A hearing on this matter has been continually pushed back and is currently postponed indefinitely.
We will learn in the coming weeks if President Trump’s statements carry any weight. His stance on the drug is positive but also cautious, showing an optimistic outlook about the benefits of medicinal use with concerns regarding recreational consumption.
Read more: Delaware governor tours cultivation facility before recreational sales launch
Follow Rowan Dunne on LinkedIn
rowan@mugglehead.com
