Tilray Brands has experienced a resurgence in stock performance due to optimism around U.S. cannabis rescheduling and improved company fundamentals. Strong Q1 earnings and international sales growth have propelled Tilray’s stock, which is up 240% in the past six months. The company reported record net revenue of $209.5 million in Q1 2026, with a return to profitability and adjusted EBITDA of $10.2 million.

Despite being a penny stock, Tilray commands a market cap of $2 billion and has a premium valuation, with an adjusted forward P/E ratio of 53x. Analyst sentiment is mixed, with a “Hold” consensus rating and a mean price target of $1.12, indicating potential downside of 33%. Jefferies’ Kaumil Gajrawala is cautiously optimistic about Tilray’s future prospects.

Read more at Yahoo Finance: Should You Buy, Sell, or Hold Tilray Stock After Q1 Earnings?