SNDL Inc., a prominent player in the cannabis industry, saw its stock surge 5.47% in pre-market trading on Tuesday. This significant uptick comes amid broader gains in cannabis-linked companies, sparked by news that US President Donald Trump is considering reclassifying marijuana as a less dangerous drug.

The potential reclassification of cannabis from a Schedule 1 drug to a less restrictive category has ignited optimism across the sector. Such a move could have far-reaching implications for the industry, potentially easing regulatory burdens, improving access to capital, and expanding market opportunities for companies like SNDL Inc.

While SNDL's pre-market gain of 5.47% is notable, it's part of a larger trend affecting various cannabis stocks. For instance, Tilray and Canopy Growth saw even more substantial increases, rising 13% and 9% respectively in pre-market trading. This collective rally underscores the sector-wide impact of the potential policy shift, with investors seemingly betting on improved prospects for cannabis-related businesses.

Analysts suggest that a rescheduling of cannabis could significantly benefit the entire sector in the long term. TD Cowen analyst Derek Lessard notes that such a move could boost research, reduce stigma, and open up a large addressable market. However, investors should remain cautious, as the reclassification process and its implementation could take time, and the impact may vary for different companies within the industry.