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The rally wasn’t just Akanda doing a solo set
Akanda shares absolutely levitated after hours, but this wasn’t a one-company victory lap. The real spark was a report that President Trump could move to reclassify marijuana as early as this week, which lit a match under cannabis names across the board.
That’s why you saw the usual suspects join the party: Tilray, Canopy Growth, and Cronos all caught a bid too. When a headline like this lands, traders don’t just buy one ticker — they reach for the whole basket like it’s the last slice of pizza at 2 a.m.
Why investors should care
A reclassification move could be a big deal for the sector because it would signal a friendlier policy backdrop and potentially make life easier for cannabis companies operating in a regulatory gray zone. Less uncertainty can mean better multiples, easier access to capital, and fewer “please explain this to my compliance team” moments.
The fine print: still wildly volatile
Akanda’s move also had some extra turbo from its own setup. The company recently completed a 1-for-4.5 reverse split, which shrank the share count and left the stock with the kind of volatility that can make your coffee spill just by looking at the chart.
Big picture: this is the kind of headline that can turn sleepy names into meme-fueled rockets — but it can reverse just as fast if the policy talk fizzles out.