Shares of cannabis companies rallied Tuesday, after the Trump administration made its first move late Monday to accept Joe Biden as president-elect by saying it was ready to begin the formal transition process. The ETFMG Alternative Harvest ETF /zigman2/quotes/204332491/composite MJ -1.98% surged 6.1% in premarket trading. It had shot up nearly 20% in the days following the election, on expectations Joe Biden will push for cannabis reform, then pulled back as President Trump continued to dispute the results. Among the more-active cannabis stocks in the premarket, the U.S.-listed shares of Aurora Cannabis Inc. /zigman2/quotes/210559470/composite ACB -2.53% soared 29.5%, Tilray Inc. /zigman2/quotes/209129655/composite TLRY -6.47% shot up 19.2%, Canopy Growth Corp. /zigman2/quotes/200603886/composite CGC +0.21% climbed 7.6% and Cronos Group Inc. /zigman2/quotes/206842762/composite CRON -1.26% ran up 10.4%. The MJ ETF has rallied 26.5% so far this month through Monday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.39% has advanced 9.4%.