Tilray (TLRY) shares closed nearly 60% higher on Sept. 29 after President Donald Trump promoted cannabidiol’s (CBD) potential to “revolutionize senior healthcare” in a video posted on Truth Social.

In his social media post, the U.S. president also said the hemp-derived medicinal compound could generate substantial – as much as $64 billion annually – in medical cost savings as well.

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Following Monday’s rally, Tilray stock hit a new 52-week high of $1.86.

The TLRY stock price rally on Monday reflects growing investor optimism about possible regulatory changes – particularly the potential rescheduling of marijuana from Schedule I to Schedule III.

Such a reclassification could fundamentally transform the cannabis industry by enabling access to traditional banking services and more favorable tax treatment.

Trump’s advocacy for Medicare coverage of marijuana-related treatments represents a potentially significant shift toward federal support for the CBD industry.

It could ease criminal penalties and financial restrictions around its use as well, all of which could translate to significant further upside for Tilray shares.

Options data from Barchart points to heightened volatility for Tilray shares, with traders pricing in a 23.43% move through the end of this week.

This implies a near-term trading range of $1.42 to $2.28.

Following Trump’s endorsement of cannabidiol as a potential breakthrough in senior healthcare, and renewed speculation around federal marijuana rescheduling, the bias appears tilted toward the upside.

Longer-dated options expiring Dec. 19 suggest an even wider range – from $0.93 to $2.77 –reflecting both optimism and embedded risk.

Still, it’s reasonable to expect the momentum sparked by Trump’s remarks to push TLRY shares closer to the upper bound, especially if regulatory chatter intensifies.

For now, traders appear to be positioning for a breakout, not a breakdown.

Investors should also note that Wall Street recommends sticking with Tilray shares for the longer term as well.

According to Barchart, the consensus rating on TLRY stock remains “Moderate Buy” with price targets going as high as $3, indicating potential for another 62% upside from here.

This article was generated with the support of AI and reviewed by an editor. On the date of publication, the editor did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com