What's Going On With Marijuana Grower Tilray's Stock?
Portfolio Pulse from Erica Kollmann
Tilray Brands, Inc. (NASDAQ:TLRY) shares are trading higher, influenced by optimism that the DEA may reschedule marijuana to a Schedule III substance, following comments from FDA Commissioner Robert Califf. Additionally, Tilray's stock has been popular on WallStreetBets, and CIBC analyst John Zamparo maintained a Neutral rating, lowering the price target from $2.25 to $2.00. A long-term forecast suggests a challenging outlook, with a potential decline to $0.07 if the current trend continues.
April 16, 2024 | 7:00 pm
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POSITIVE IMPACT
Tilray's stock is positively impacted in the short term by optimism around DEA rescheduling marijuana, but faces a long-term challenge with a bleak forecast.
Short-term gains are driven by regulatory optimism and popularity on trading forums. However, the long-term forecast based on past performance suggests significant challenges ahead, potentially impacting investor sentiment.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100