Tilray's Rescheduling Rally Keeps Fading -- Where Will the Stock Be if Washington Stalls Again?
Yahoo Finance ·
Shares of Tilray Brands ( TLRY +0.44% ) rose significantly toward the end of last year on positive regulatory developments in the U.S. cannabis industry. However, this rally was short-lived. Tilray's stock reached $23.20, but shares are now changing hands for just under $5, not far from its 52-week low of $3.67. Let's find out what's going on with Tilray and where the stock might be headed next. Earlier this year, the U.S. Federal Government moved medical marijuana products regulated at the state level -- as well as products approved by the U.S. Food and Drug Administration containing marijuana -- from Schedule I to Schedule III. This means that these products are now considered to be less prone to abuse than Schedule I and Schedule II substances, and are recognized as having some medical benefit, which should make medical research into marijuana easier. This was meaningful progress for Tilray and its peers, and the company is actively exploring ways to capitalize on it. The market, though, apparently doesn't think Tilray will meaningfully profit from this change; that's why the stock has moved south over the past year, despite its shares initially soaring on news of rescheduling. Meanwhile, Tilray's financial results remain unimpressive. In the fourth quarter of its fiscal year 2026, which ended May 31, the company's revenue increased by 25% year over year to $281.7 million, but that was mostly due to the acquisition of selected assets from BrewDog, a U.K.-based craft brewer, which positively impacted its beverage segment.
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