Shares of Tilray Brands Inc TLRY are trading higher Tuesday, with the stock up 39% over the past week. Here’s what investors need to know.
What To Know: The cannabis sector is experiencing a broad rally fueled by growing optimism for U.S. cannabis reform, bolstered by the recent appointment of a new Republican National Committee leader who supports legalization.
The positive sentiment was further amplified by a bullish update from Jefferies analyst Kaumil Gajrawala, who reiterated a Buy rating on Tilray and increased the price target from $1.50 to $2.00.
This upgrade comes as bipartisan congressional staffers have anonymously indicated an expectation for President Donald Trump to finalize the move of marijuana to Schedule III of the Controlled Substances Act before the end of the year.
A move to Schedule III would be a significant catalyst for the industry, allowing cannabis companies to benefit from tax write-offs and credits currently unavailable to them. This change could directly improve profitability and operational efficiency for companies like Tilray.
Further legislative momentum is anticipated with the SAFER Banking Act, which is expected to pass during the 2025-2026 legislative session.
Price Action: According to data from Benzinga Pro, TLRY shares are trading higher by 1.8% to $1.41 Tuesday morning. The stock has a 52-week high of $1.88 and a 52-week low of $0.35.
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Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Tilray Brands’ case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.