Tilray Brands (NASDAQ:TLRY) Market Performance and Outlook

Core Insights - Tilray Brands is a global leader in the medical cannabis industry, facing competition from major companies like Canopy Growth and Cronos Group [1] Summary by Sections Stock Performance - Bernstein maintained a "Market Perform" rating for Tilray, raising the price target from $1 to $10, while the stock was priced at $12.34 [2] - Despite the hold recommendation, Tilray's stock decreased by 4.2%, closing at $12.34, with trading volume surging to 66.7 million shares, a 514% increase from the three-month average of 10.9 million shares [3][6] - The stock fluctuated between $12.10 and $15.69 during the day, with a market capitalization of approximately $1.38 billion [5] Market Context - The broader market saw gains, with the S&P 500 rising by 0.79% and the Nasdaq Composite increasing by 1.38%, but not all cannabis stocks benefited, indicating market anticipation of the policy change [4][6] - Prior to the executive order reclassifying marijuana, Tilray's stock had surged over 50% due to rumors, which were confirmed by the order [4]