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Benzinga
Benzinga
Business
Mohd Haider

Tilray Surges 14% After Hours On Trump Cannabis Reclassification

Tilray Donald Trump TLRY Nasdaq Tilray Brands Marijuana United States
Tilray Company,Logo,On,Screen,Of,Smartphone,Against,Blurred,Background

Tilray Brands Inc. (NASDAQ:TLRY) stock surged by 14.13%, to $1.05 during after-hours on Monday. This surge follows a report suggesting that President Donald Trump is contemplating reclassifying marijuana, a move that could significantly impact the industry.

What Happened: The stock of major cannabis companies, including Tilray, Canopy Growth Corp (NASDAQ:CGC), and Aurora Cannabis Inc (NASDAQ:ACB), experienced a significant boost on Monday. This surge was triggered by a report from the Wall Street Journal indicating that Trump is considering reclassifying marijuana as a less dangerous drug. Such a move could have substantial financial implications for the industry.

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