Does Marijuana Rescheduling Really Help Tilray's Stock?

One of the things that can really move shares of Tilray Brands (NASDAQ:TLRY) is any renewed hope that marijuana reform is on the horizon in the U.S. When there is hope that legalization may finally be progressing, that's when the stock can surge in a hurry. I don't think even a strong earnings report would do more.

Investors often buy Tilray's stock due to the expectation of marijuana legalization taking place in the U.S. in the near future. That hasn't panned out, and unsurprisingly, the stock has tanked. In just the past 12 months, the stock has lost 76% of its value.

Recently, it's been the rescheduling of marijuana in the U.S. that has gotten investors at least temporarily bullish on Tilray's stock. Would rescheduling truly be a positive catalyst for this troubled pot stock?

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