US Stock Market Move | Cannabis stocks collectively surged, Tilray Brands (TLRY.US) soared by more than 32%.

On Friday, marijuana stocks collectively soared, with Tilray Brands (TLRY.US) rising over 32%, Canopy Growth (CGC.US) rising over 23%, SNDL (SNDL.US) rising over 19%, Aurora Mobile Ltd. Sponsored ADR Class A marijuana (ACB.US) rising over 11%, and Cronos Group (CRON.US) rising over 5%. In terms of news, several local American media outlets reported that President Donald Trump is expected to push for reclassifying marijuana as a "less harmful drug." According to media reports, Trump is considering moving marijuana from "Schedule I" - a category that signifies no medical use and high potential for abuse - to "Schedule III" - a category of substances with lower potential for dependence and addiction.