Tilray Inc. (TLRY) saw its stock price plummet by 5.19% during Monday's intraday trading session, reversing earlier gains. The cannabis stock had initially rallied in pre-market trading following reports that President Donald Trump might loosen federal restrictions on marijuana.

However, the rally was short-lived as a White House official later clarified that no final decision had been made regarding the policy change. This uncertainty led to a sharp sell-off, erasing the pre-market gains and driving the stock lower. Investors are closely monitoring any updates on potential regulatory changes, which could significantly impact the cannabis industry.