TLRYTilray Brands (TLRY) Close view of Tilray (TLRY) logo on a smart phone. Tilray specializes in cannabis research, cultivation, processing and distribution. TLRY stock Source: Lori Butcher / Shutterstock.com Tilray Brands (NASDAQ:TLRY) stock looks massively undervalued at $1.9. Assuming that cannabis is moved from Schedule I to Schedule III on the controlled substances list, TLRY stock will double or triple in weeks. Further, if the federal government legalizes cannabis, I expect 10x returns from the stock. Its worth noting that last year Tilray focused on acquisitions for diversification. The company is now the fifth-largest craft beer brewer in the United States. This year, TLRY will likely focus on global medicinal cannabis expansion. For Q2 2024, Tilray reported 55% growth in international cannabis net revenue. That was driven by the medicinal cannabis segment. Further, Tilray reported a 117% growth in beverage alcohol net revenue for Q2 2024 to $47 million. This is another segment that will continue to support growth. At the same time, Tilray expects to generate positive adjusted free cash flow for the financial year 2024. That will translate into higher financial flexibility for investments.