Trump's Marijuana Rescheduling Push Is Back in Focus. Is Tilray Stock Finally a Buy?
The Tilray bull case is getting stronger without U.S. legalization.
Overview
President Donald Trump directed federal officials to move quickly on marijuana rescheduling, and that effort just survived another legal challenge. Last week, a federal appeals court rejected a request from marijuana opponents to temporarily block the administration from moving forward with broader rescheduling while their lawsuits are considered. The ruling doesn't guarantee marijuana will ultimately move from the stringent Schedule I to the more lenient Schedule III, but it keeps the process alive. And Tilray Brands (NASDAQ: TLRY) could be one of the marijuana stocks to watch if it happens.
Moving marijuana to Schedule III wouldn't federally legalize recreational cannabis. Interstate marijuana commerce wouldn't suddenly become legal, and Tilray wouldn't be able to start shipping Canadian recreational cannabis into the U.S. But Schedule III would still represent one of the biggest changes in federal marijuana policy in decades.
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Originally published at www.fool.com.