Tilray Brands (TLRY) Stock Is Surging Monday: What's Going On?
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Tilray Brands (TLRY) shares surged 14.3% to $1.31 on Monday, driven by a positive note from Jefferies, which raised the price target from $1.50 to $2. The optimism stems from expectations of significant U.S. cannabis reform, including potential rescheduling of marijuana to Schedule III of the Controlled Substances Act by President Trump. This change could enhance profitability for companies like Tilray through tax benefits. Legislative momentum is also building with the anticipated passage of the SAFER Banking Act, although it may not occur until 2025-2026.
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