Stock Market Today, Dec. 16: Tilray Brands Surges 27.5% After Trump Signals Possible Marijuana Reclassification

Tilray Brands (NASDAQ:TLRY), global medical cannabis producer, closed Tuesday’s session at $13.94, up 27.54%. Trading volume reached 46.8 million shares, about 525% above its three-month average of 8.9 million shares.Tuesday’s move tracked a sector-wide cannabis rally after President Donald Trump signaled he is considering an executive order to reclassify marijuana. Investors are watching potential U.S. policy changes that could meaningfully impact industry growth. The S&P 500 (SNPINDEX:^GSPC) slipped 0.26% to 6,799, while the Nasdaq Composite (NASDAQINDEX:^IXIC) added 0.23% to finish at 23,111. Within the sector, cannabis-focused peers Canopy Growth (NASDAQ:CGC) and Cronos Group (NASDAQ:CRON) rose 10.24% and 3.61%, underscoring how U.S. rescheduling speculation is lifting the group.Today's jump has Tilray shares approaching a two-month high. Investors are betting that President Trump's comment that he is "strongly" considering reclassifying marijuana from a Schedule I to a Schedule III drug has investors pouring into cannabis names. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool