Tilray Brands, Inc. (NASDAQ:TLRY) said Thursday it is positioning for U.S. expansion following federal action to reclassify cannabis from Schedule I to Schedule III under the Controlled Substances Act.

The company welcomed the move tied to actions by President Donald Trump, calling it a major shift in U.S. drug policy. Tilray said the change could accelerate clinical research, expand patient access and support the development of standardized, science-driven medical cannabis frameworks.

Strategic Positioning

CEO Irwin Simon called it a “pivotal moment.” The company said its global medical cannabis platform and experience across 20+ markets position it to enter the U.S., including potential participation in a CMMI pilot program to supply healthcare providers and generate clinical data.

Technical Analysis

Tilray is sitting well off its 52-week low of $3.51 but still far below the $23.20 52-week high, which points to a longer-term recovery that hasn’t fully repaired prior damage.

The stock is trading 15.2% above its 20-day simple moving average (SMA) and 4.2% below its 100-day SMA, a split that leans bullish short-term but still cautious on the intermediate trend.

The moving average structure remains a headwind: the 20-day SMA is below the 50-day SMA, and the death cross that occurred in February (50-day falling below the 200-day) keeps the longer-term trend biased lower.

At the same time, the moving average convergence divergence (MACD), a trend/momentum measure, is above its signal line, which leans toward improving upside momentum versus the prior downtrend.

Over the past 12 months, the stock is up 76.02%, which shows the longer-term tape has rewarded risk-taking despite big swings. The key question from here is whether price can keep holding above near-term averages while it works back toward the longer-term 200-day area.

  • Key Resistance: $8.00 — where recent rallies have tended to stall.
  • Key Support: $7.00 — an area buyers have recently defended.

Analyst Consensus & Recent Actions

The stock carries a Buy Rating with an average price target of $8.50. Recent analyst moves include:

  • Roth Capital: Upgraded to Buy (Maintains Target to $10.00) (April 2)
  • TD Cowen: Buy (Lowers Target to $7.00) (March 30)
  • Roth Capital: Neutral (Lowers Target to $10.00) (January 20)

Company Context

Tilray is a Canadian producer that cultivates and sells medical and recreational cannabis. In 2021, legacy Aphria acquired legacy Tilray in a reverse merger and renamed itself Tilray. The bulk of its sales are in Canada and in the international medical cannabis export market. U.S. exposure comes mainly from alcohol.

The recent regulatory changes in the U.S. create a significant opportunity for Tilray to expand its market presence and enhance its product offerings. As a leader in the cannabis industry, Tilray’s established infrastructure and experience in regulated markets position it well to capitalize on these changes.

Price Action

TLRY Stock Price Activity: Tilray Brands shares were down 1.59% at $7.75 at the time of publication on Thursday, according to Benzinga Pro data.

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