Shares of Tilray Brands (NASDAQ:TLRY) dropped 9% after President Trump signed an executive order to reclassify cannabis from Schedule I to Schedule III. The stock market reacted with profit-taking, as investors had already priced in the news, resulting in a 9.6% decrease in Tilray’s share price. This move is significant given Tilray’s history of volatility, with 93 moves over 5% in the past year. The stock had previously surged 75% on rumors of reclassification, only to drop 5.2% two days ago. Tilray is currently trading 47.1% below its 52-week high, presenting a potential buying opportunity.

Read more at Barchart: Why Tilray (TLRY) Stock Is Trading Lower Today