AKAN Stock Surges 32% Pre-Market – But Still Trails Its Largest Single-Day Rally This Year

• Since the marijuana reclassification move, AKAN stock has significantly outperformed peers Tilray, Canopy Growth, and Aurora Cannabis.
• The regulatory shift on marijuana is expected to provide tax relief for licensed operators and support research.
• AKAN stock is set to test the 200-DMA for the first time since October 2025.

Shares of Akanda Corp (AKAN) are once again on a tear, surging 32% in pre-market trading on Thursday, yet even that sharp move would rank only as its fourth-biggest single-day gain this year if it holds at close.

The latest pre-market jump extends a powerful two-day rally that has sent AKAN shares soaring about 114%, putting the stock on track to test its 200-day moving average for the first time since Oct. 1, 2025.

AKAN shares recorded their best-ever single-day gains after news of marijuana reclassification broke earlier this month. The stock has rallied nearly 700% in the six sessions since then through Wednesday’s close.

What Triggered The Breakout Rally?

The U.S. Department of Justice moved to reclassify medical marijuana as a less dangerous drug, following an executive order from President Donald Trump. The change moves it from Schedule I to Schedule III under the Controlled Substances Act.

While the change does not legalize marijuana, it is expected to ease regulations, provide tax relief for licensed operators, and support research. Officials said the update will also speed up rulemaking, expand access to medical treatments, and strengthen oversight of medical marijuana programs across the U.S.

What Are Retail Traders Saying?

AKAN shares have been under the spotlight for a while, with message volumes on Stocktwits exceeding a massive 106,200% over a 30-day period. Retail sentiment has remained in the ‘extremely bullish’ territory over the time period.

One user expects the stock to climb to triple digits. It is currently trading at $35.

Another user said the movement doesn’t seem like a “pump and dump” scheme.

Since the marijuana reclassification move, AKAN stock has significantly outperformed Tilray (TLRY), which has lost around 8%, Canopy Growth (CGC), down around 4%, and Aurora Cannabis (ACB), also down around 8%.

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