Canopy Growth shares fall 2.22% intraday after Trump's comments on marijuana reclassification and Q1 earnings report.

Canopy Growth Corporation fell 2.22% intraday, following Trump's consideration to reclassify cannabis as a Schedule III drug, which could change industry tax regulations and encourage investment. The company also reported a 9% year-over-year increase in revenue for the first quarter of fiscal 2026, with adult-use cannabis revenue in Canada rising 43%. Additionally, the company recently reduced $50M in loan debt, expecting to save $6.5M in annual interest costs.