Tilray Stock Rockets 32% After Hours: What Sparked the Surge?

Key Points:

• Tilray Brands stock surged 31.55% in after-hours trading to $11.09 on Thursday
• The company announced its new Amped Live Resin Liquid Diamond vape cartridge line under the Redecan brand
• Reports emerged that President Trump may direct agencies to reclassify marijuana from Schedule I to Schedule III
• During regular trading hours Thursday, Tilray shares rose 2.1% to close at $8.43
• Analysts maintain a Hold rating on the stock with an average price target of $20

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Tilray Brands Inc. (TLRY) saw its stock price jump more than 30% in after-hours trading Thursday, following a new product announcement and reports about potential changes to marijuana classification.

Tilray Brands, Inc., TLRY

The cannabis company’s shares climbed 31.55% to $11.09 after the close. This came after Tilray announced the launch of its Amped Live Resin Liquid Diamond 1g 510 cartridges under the Redecan brand.

The debut product line features Space Age CK and Blueberry DNTS strains. According to the company, the cartridges contain 80% Legit Live Resin and 20% Liquid Diamonds, designed to deliver strain-specific terpenes and full-spectrum cannabinoids.

New Premium Vape Products Target Peak Season

This marks Redecan’s first live resin-liquid diamond product line. The Amped cartridges include a TrueDraw Ceramic core made from medical-grade zirconia ceramic and a wide-body design to improve airflow and prevent clogs.

Tilray reported that live resin vapes delivered 6.3% category growth over the past six months in the Canadian cannabis market. Liquid Diamond formats remain among the top-selling vape products nationwide.

Vape basket penetration peaks from December to February, aligning with the launch timing. The products are currently available in Ontario and Alberta, with national distribution planned for early 2026 through authorized cannabis retailers.

During regular trading hours Thursday, Tilray shares rose 2.1%. The stock traded as high as $8.59 before closing at $8.43 on volume of 4.12 million shares, about 18% below average.

Policy Reports Add to Stock Movement

The after-hours surge also coincided with a report from The Washington Post. The report stated that President Donald Trump is expected to direct federal agencies to reclassify marijuana from Schedule I to Schedule III.

Schedule I drugs, such as heroin and LSD, have no accepted medical use and a high potential for abuse. Schedule III drugs have recognized medical uses and a lower potential for abuse.

A White House spokesperson told Forbes no final decisions have been made on marijuana rescheduling. The potential policy change could impact cannabis companies operating in the United States.

Analyst opinions on Tilray remain mixed. Two analysts have Buy ratings, three have Hold ratings, and two have Sell ratings on the stock.

Jefferies Financial Group raised its price target on Tilray from $15 to $20 with a Buy rating in August. ATB Capital Markets downgraded the stock from Hold to Strong Sell in October.

The average analyst price target stands at $20, according to MarketBeat data. This represents upside from Thursday’s closing price of $8.43.

Tilray has a market capitalization of $946.60 million. The company shows a debt-to-equity ratio of 0.15, a current ratio of 2.62, and a quick ratio of 1.56.

Hedge funds and institutional investors own about 9.35% of the stock. Recent institutional activity includes Tudor Investment Corp purchasing a new stake valued at $518,000 in the third quarter.

Caitong International Asset Management increased its position by adding 992,048 shares. Swiss Life Asset Management grew its holdings by 222.9% to 42,503 shares during the third quarter.

The stock is down 42.26% year-to-date but has rebounded 102.64% over the past six months. Tilray’s 52-week range spans from $3.51 to $23.20.

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