Tilray: Federal Rescheduling Of Cannabis May Ignite Sector Rally
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Alan Sumler1.39K FollowersFollow5ShareSavePlay(8min)CommentsSummaryPresident Trump signed an executive order, which directed federal agencies to finish the process of rescheduling cannabis to a Schedule III substance.The cannabis sector had experienced a rally over the last week on rumors of the EO to be signed, but the rally ended today as investors took profits.Tilray announced a new venture, Tilray Medical USA, which will enter US cannabis markets and look for opportunities within medical markets.Tilray's stock recently underwent a 1:10 reverse split and has not recovered to its previous price.I continue my rating of a hold for the company.
Red Stock Studio/iStock via Getty Images Tilray (TLRY) announced its entry into US cannabis markets today as Trump signed an EO to reschedule cannabis.
The Executive Order directs the federal government to finish the process of reschedulingThis article was written byAlan Sumler1.39K FollowersFollowWelcome to the home of The Cannabis Report. I cover the cannabis sector and other sectors. I am most interested in technical stock analysis, option strategies, small cap strategies, and emerging markets. Feel free to contact me with any questions about publicly traded stocks in the cannabis industry.Analyst’s Disclosure:I/we have a beneficial long position in the shares of TLRY either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.