Tilray Brands Inc. (TLRY) shares are having quite the moment, and for good reason. The cannabis company saw its stock jump over 30% in after-hours trading Thursday, climbing to $11.09, as two significant developments converged to light up investor enthusiasm.
A New Premium Vape Product Hits the Market
The New York-based company announced Thursday the launch of its Amped Live Resin Liquid Diamond 1g 510 cartridges, marking Redecan's first foray into the live resin-liquid diamond product category. The debut lineup features Space Age CK and Blueberry DNTS strains, combining what the company calls Legit Live Resin with Liquid Diamonds.
The formulation isn't random. According to Tilray, the product contains 80% Legit Live Resin and 20% Liquid Diamonds, designed to deliver strain-specific terpenes and full-spectrum cannabinoids. Think of it as the craft beer equivalent of cannabis vapes: premium ingredients targeting discerning consumers.
Trump Administration Marijuana Rescheduling Reports Fuel Rally
But the product launch isn't the only reason investors are excited. The stock surge also coincides with a Thursday report from The Washington Post stating that President Donald Trump is expected to direct federal agencies to reclassify marijuana from Schedule I to Schedule III.
This matters because Schedule I drugs like heroin and LSD have no accepted medical use and carry the highest potential for abuse designation. Schedule III drugs, by contrast, have recognized medical uses and a lower potential for abuse. The rescheduling would represent a significant shift in federal marijuana policy.
Worth noting: A White House spokesperson told Forbes no final decisions have been made on marijuana rescheduling. So while the market is clearly optimistic, nothing is set in stone yet.
Market Timing and Product Specifications
Tilray isn't launching this product randomly. Live resin vapes delivered 6.3% category growth over the past six months in the Canadian cannabis market, according to the company. Liquid Diamond formats remain among the top-selling vape products nationwide. And here's the kicker: vape basket penetration peaks from December to February, meaning the company timed this launch to coincide with peak demand season.
The Amped cartridges include a TrueDraw Ceramic core made from medical-grade zirconia ceramic, described as a biocompatible, high-strength material. The wide-body design aims to improve airflow and prevent clogs, addressing common pain points in vape products. Space Age CK offers floral, fruit, and cake notes, while Blueberry DNTS delivers a sweet and sour berry flavor profile.
Distribution and Availability
The Amped Live Resin Liquid Diamond 510 cartridges are currently available in Ontario and Alberta, with national distribution planned for early 2026 through authorized cannabis retailers. The products are intended for consumers aged 19 and older.
Stock Performance and Trading Metrics
The broader context for Tilray shares is mixed. The lifestyle and consumer packaged goods company's stock is down 42.26% year-to-date, though it has rebounded 102.64% over the past six months, showing significant volatility.
Tilray currently has a market capitalization of $9.49 billion, with a 52-week range of $3.51 to $23.20. According to market data, Tilray closed on Thursday at $8.43, up 2.06%, before the after-hours surge.
The stock shows strong momentum indicators, though it maintains a negative price trend across multiple timeframes. The recent developments around both product innovation and potential federal rescheduling could shift that trajectory, but investors should remember that regulatory changes remain uncertain and cannabis remains a volatile sector.