Cannabis stocks, like Tilray Brands (TLRY), could see higher highs.

All after the Department of Health and Human Services said it is recommending that the Drug Enforcement Administration reclassify marijuana at a less severe schedule. In fact, Assistant Secretary for Health Rachel Levine sent a letter to DEA Administrator Anne Milgram asking the agency to downgrade cannabis to a Schedule III substance.

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With that, there’s hope that federal legalization of cannabis may not be far behind.

Technically, TLRY just broke above double top resistance at $3.08.  Last trading at $3.29, we’d like to see it test $5 a share next.


Ian Cooper