Stock Track | Tilray Inc. Soars 9.10% Intraday as Trump's Expected Marijuana Reclassification Boosts Cannabis Sector

Stock Track12-18 22:36

Tilray Inc. (NASDAQ: TLRY) saw its stock price surge by 9.10% during Thursday's intraday trading session, reflecting strong investor optimism in the cannabis sector.

The rally was driven by reports that U.S. President Donald Trump is expected to sign an executive order reclassifying marijuana from a Schedule I to a Schedule III drug under the Controlled Substances Act. This move would significantly ease federal restrictions, allowing cannabis companies to deduct standard business expenses and potentially improve profitability.

Analysts note that the reclassification could also facilitate easier access to capital and research opportunities for the industry, with Tilray positioned as a key beneficiary given its prominent role in the sector.

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