This Cannabis Stock Popped 26% Today After Announcing Partnership With An Italian Company – Do You Own It?

Italian firm Molteni will collaborate with Tilray Medical’s subsidiary by providing targeted education on medical cannabis therapies through Molteni’s comprehensive network of pharmaceutical, scientific, and medical professionals throughout Italy.

Tilray Brands’ (TLRY) shares soared over 26% by Wednesday afternoon after Tilray Medical announced that its wholly-owned subsidiary has entered into a strategic partnership with an Italian pharmaceutical firm to broaden the availability of cannabis extracts for patients across Italy.  

Retail sentiment on Tilray Brands remained unchanged in the ‘extremely bullish’ territory, with chatter at ‘extremely high’ levels, according to data from Stocktwits.

The firm has partnered with L. Molteni & C. dei F.lli Alitti Società di Esercizio S.p.A., which specializes in pain therapies and substance dependence. Molteni will collaborate with Tilray Medical’s subsidiary FL Group by providing targeted education on medical cannabis therapies through Molteni’s comprehensive network of pharmaceutical, scientific, and medical professionals throughout Italy.

“By combining FL Group’s regulatory and distribution capabilities with Molteni’s scientific leadership, we are not only expanding access to high-quality, EU-GMP certified cannabis therapies for patients across Italy but also prioritizing medical cannabis education for pain therapies,” said Rajnish Ohri, Managing Director, International at Tilray Brands.

In the European market, Tilray Medical has operations in Germany, Italy, Portugal, Poland, and the United Kingdom.

The retail user message count on the stock jumped nearly 2,400% in the last seven days. U.S. President Donald Trump confirmed on Monday that he was looking at reclassifying marijuana and may announce his final decision in the next few weeks.

Reclassifying marijuana from a Schedule I to a Schedule III substance would reduce regulatory barriers, enable tax deductions for related businesses, and facilitate broader medical research.

A Stocktwits user said that Tilray Brands’ shares could at least hit $1.50 or go even higher. The stock was trading at $1.21 at the time of writing.

Tilray Brands stock has declined 9% so far this year and lost nearly 37% of its value in the last 24 hours.

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