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Tilray Stock Surges 24% Amid Trump Administration's Cannabis Rescheduling Plans and New Product Launch
Tilray Inc. stock soared over 24% in pre-market trading driven by two main factors: the Trump administration's plan to reclassify marijuana as a less dangerous drug, signaling a major policy shift, and Tilray's launch of a new vape product. This anticipated reclassification is expected to reduce industry tax burdens, ease banking restrictions, and boost medical research, positively impacting the cannabis sector. Other cannabis stocks like Canopy Growth and SNDL also saw significant gains, reflecting broad market optimism.
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