Tilray (TLRY) Stock Surges Nearly 18% on Optimism for Federal Marijuana Reform

Shares of Tilray Brands (NASDAQ:TLRY) surged 17.8% on optimism for federal marijuana reform, potentially reclassifying cannabis as a Schedule III substance. This change could benefit the industry by acknowledging medical use and easing tax burdens. Tilray’s shares are highly volatile, with 52 moves over 5% in the past year. The stock is down 52.9% year-to-date, currently trading at $0.69 per share, 66.2% below its 52-week high. Stay updated on your favorite stocks with StockStory’s watchlist feature, receiving timely explanations for significant moves straight to your inbox for free.

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