Stock Track | Tilray Inc. Soars 42.11% Intraday on Reports of Trump's Plan to Loosen Marijuana Restrictions

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Tilray Inc. (TLRY) surged 42.11% during intraday trading on Friday, marking one of the stock's most significant single-day gains. The sharp rise follows reports that President Donald Trump is considering reclassifying marijuana from a Schedule I to a Schedule III drug, a move that would ease federal restrictions on the cannabis industry.

The potential policy shift would place marijuana in the same category as substances like ketamine and Tylenol with codeine, reducing regulatory hurdles and tax burdens for cannabis companies. Additionally, Tilray's recent launch of its new Amped Live Resin Liquid Diamond vape product under the Redecan brand has further fueled investor optimism.

Analysts note that the reclassification could open up new opportunities for Tilray and other cannabis firms, including improved access to banking services and increased medical research funding. The news has sparked a broader rally in cannabis stocks, with peers like Canopy Growth and Aurora Cannabis also posting double-digit gains.

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