Tilray Stock Eyes Breakout Week: Trump’s Cannabis Order Opens Door To US Cancer Market Entry

• The U.S. government placed FDA-approved marijuana products and state-licensed medical cannabis programs into Schedule III.
• Tilray said it is exploring participation in a federal pilot program that could allow the firm to supply hemp-derived medical cannabis through cancer clinics.
• Cannabis stocks initially rallied on the policy change, but later reversed sharply.

Shares of Tilray Brands (TLRY) are heading for their best week this year after the pot company outlined plans to expand medical cannabis access through U.S. oncology practices after regulators approved a partial rescheduling of medical cannabis products.

TLRY stock has risen about 7% so far this month and more than 1% this week, putting it on track for a fifth straight weekly gain.

Tilray Eyes US Cancer-Care Entry

The move follows the U.S. government’s decision to place FDA-approved marijuana products and state-licensed medical cannabis products into Schedule III under the Controlled Substances Act, which will support clinical research and expand treatment access.

After the order was passed, Tilray said it is exploring joining a federal pilot program run by the Center for Medicare and Medicaid Innovation that could allow the company to supply hemp-derived medical cannabis through cancer clinics and healthcare providers serving underserved patients. The company said the program could also help gather data on how medical cannabis is used and regulated across the U.S. 

Medical cannabis is mainly used in cancer clinics to help manage treatment-related symptoms such as pain, nausea, appetite loss, and sleep disturbances, supporting tolerance during chemotherapy. 

“Rescheduling has the potential to accelerate clinical research, broaden access, and elevate the quality, consistency, and safety standards that establish medical cannabis as a legitimate pillar of modern healthcare,” CEO Irwin Simon said, noting the benefits for patients fighting cancer, managing chronic pain, living with epilepsy and navigating post-traumatic stress disorder.

Through its Tilray Medical unit, the company said it has supported hundreds of thousands of patients across over 20 regulated international markets and built pharma-grade cultivation, manufacturing and distribution infrastructure.

Tilray’s cultivation footprint exceeds 7 million square feet and includes a portfolio of cannabinoid formulations, including CBD and THC-based products across beverages, edibles, and topicals, among others.

Trump Urges Faster CBD Reform

Late Thursday, Trump called on Congress to preserve access to full-spectrum hemp-derived cannabidiol products and expand research in their therapeutic use.

“In December, I signed a very important Executive Order calling for Research and Innovation for Hemp-derived CBD — Something that has made a HUGE difference for so many people. In fact, ONE in FIVE adults used it in the past year, and many say it improved their chronic pain enormously,” Trump said on Truth Social.

“We must get this done RIGHT and FAST,” he added, urging lawmakers to ensure Americans can continue accessing CBD products, while maintaining safeguards against higher-risk substances. 

Cannabis Stocks Whipsaw Despite Policy Breakthrough

Cannabis stocks initially rallied after the rescheduling announcement but later reversed as investors assessed the limited scope of the order, which applies only to FDA-approved marijuana products and state-licensed medical cannabis programs, while broader rescheduling remains under review.

TLRY shares rose as much as about 19% intraday on Thursday before reversing to close 12% lower, alongside declines in peers including Canopy Growth (CGC), which also fell 12%, Aurora Cannabis (ACB), down 14%, Cronos Group (CRON), which dropped 7%, and the AdvisorShares Pure US Cannabis ETF (MSOS), which slid 17%.

Still, Roth Capital Partners said the partial rescheduling order was “extremely favorable,” citing potential relief from Section 280E tax restrictions, improved prospects for imports and exports, progress toward eventual adult-use rescheduling and stronger overall sector investability.

How Do Retail Traders Feel About Cannabis Stocks?

On Stocktwits, retail sentiment for TLRY, ACB, CRON, CGC and the broader MSOS ETF was ‘extremely bullish’ amid ‘extremely high’ message volume.

One user said, “trump knows the path to the mid terms is legal weed.”

Another user said expects broader Schedule III rescheduling after June and called the latest policy move a positive step for the sector, adding that despite typical retail-driven “sell-the-news” reactions, the change is unlikely to be reversed.

TLRY stock has risen 57% over the past year. 

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