The Globe and Mail reports in its Tuesday edition that shares of pot companies jumped on Monday after U.S. President Donald Trump said his administration is looking at reclassifying marijuana as a less dangerous drug, potentially easing criminal penalties and reshaping the industry's federal standing. A Reuters dispatch to The Globe says Tilray gained nearly 24 per cent, while the U.S.-listed shares of SNDL and Cronos were up 15.5 per cent and 13.2 per cent, respectively. Toronto-listed shares of Canopy and Trulieve jumped 30 per cent and 27 per cent, respectively. Even mere speculation of federal-level reclassification can catalyze outsized moves in cannabis stocks, as shifting marijuana from its current Schedule I classification could unlock banking access, attract institutional investors and spur mergers and acquisitions. Reclassification would also remove the tax burden under Section 280E, which denies standard business deductions to cannabis companies. Resolution of this tax barrier could pave the way for cannabis companies to list on U.S. stock exchanges, further unlocking capital–market access. The review is now in the hands of the Drug Enforcement Administration, which will determine if rescheduling happens.