Cannabis stocks surge as U.S. reclassifies medical marijuana

Investing.com -- Cannabis company shares jumped in pre-market trading on Thursday, building on gains from the previous session after the U.S. Department of Justice reclassified state-licensed medical marijuana as a less-dangerous drug.

President Donald Trump's acting attorney general signed an order on Thursday changing the classification of medical marijuana, according to the Associated Press.

Aurora Cannabis rose 6% in pre-market trading, while Tilray climbed 9.3% and Canopy Growth gained 7.3%. The AdvisorShares Pure US Cannabis ETF advanced 8%.

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