NASDAQ:TLRY 8 October 2025 - 9 January 2026

Tilray Brands, Inc. shares rose nearly 9% in premarket trading on Friday after the cannabis and craft beer maker reported quarterly results after the bell. The stock was last up 8.98% at $9.95 after ending Thursday at $9.13.

Tilray Brands, Inc. has spent December doing what cannabis stocks do best: moving fast, arguing loudly with gravity, and reacting to headlines like they’re caffeine. As of Wednesday, December 24, 2025, TLRY is trading around $10.53.

Tilray Brands, Inc. is back in the spotlight on December 15 after one of its biggest momentum bursts in years—followed by an equally fast reality check. The stock’s latest swing is being driven less by quarterly fundamentals and more by a single macro catalyst: growing expectations that President Donald Trump could move to ease federal marijuana restrictions by pushing a reclassification of cannabis to Schedule III.

Updated: Friday, Dec. 12, 2025Meta description: Tilray surged this week as cannabis stocks spiked on reports Trump may push marijuana rescheduling. Here’s what happened and what to watch next week.

Tilray Brands kicked off its fiscal 2026 with better-than-expected results, signaling that aggressive cost-cutting and diversification efforts are bearing fruit. The company’s Q1 FY2026 revenue hit $209.5 million, a 5% increase over last year’s quarter stocktitan.net. More impressively, Tilray managed to swing to a net profit of $1.5 million – a stark improvement from the -$34.7 million loss in the prior-year period stocktitan.net stocktitan.net. This marks one of Tilray’s first profitable quarters since its 2018 IPO, a milestone achieved through tighter operational discipline. Adjusted EBITDA came in at $10.2 million, indicating improving core profitability stocktitan.net.

Tilray’s stock has been on a tear in recent months, staging a stunning turnaround from penny-stock levels. The share price has quadrupled since early July – rising from well under $0.5 to around $1.7 by early October Nasdaq. Year-to-date, TLRY is up ~22% after being down over 20% mid-year Talkmarkets Hi Plainscoop. This rebound has rescued Tilray from the brink of a Nasdaq delisting – the company had even sought a compliance extension when its shares languished below $1 in the summer Hi Plainscoop.

Tilray’s stock has been on a wild ride in early October 2025, propelled by a flurry of cannabis policy news. In the first week of October, TLRY jumped over 8% in one day after an apparent breakthrough in U.S. marijuana reform sentimentnasdaq.comnasdaq.com. The trigger: several prominent Republican senators voiced unexpected support for easing federal cannabis laws, and former President Donald Trump – now in his second term – signaled openness to rescheduling marijuana. MarijuanaMoment reports that in late September, Trump shared a video touting CBD’s health benefits for seniors, and GOP Senators Lisa Murkowski said moving cannabis to Schedule III “is totally a game changer” while Kevin Cramer confirmed Trump “has said it… if he reschedules, that is a big deal”marijuanamoment.netmarijuanamoment.net. Such rhetoric from traditionally resistant lawmakers shocked the market and “seemed to take a little step forward” the slow march toward U.S. marijuana legalizationnasdaq.com. Cannabis stocks across the board rallied on the news, with Tilray notable as one of the biggest gainers, climbing over 8% that daynasdaq.com.