24H | Tilray Surges over 7%; NIO, Alibaba Gain Around 2%; Palantir Falls over 1%

Tilray stock rose over 7% in overnight trading after surging about 21% in overnight trading.

The significant rally was primarily driven by two key factors. Firstly, Jefferies analyst Kaumil Gajrawala maintained a Buy rating on Tilray while raising the price target from $1.50 to $2.00, signaling increased confidence in the company's prospects. Secondly, growing optimism surrounding potential U.S. cannabis reform has buoyed investor sentiment across the industry.

Some Chinese ADRs gained in overnight trading. NetEase, NIO, Alibaba gain around 2%.

Big tech stocks mostly sank. Palantir down over 1%; Tesla, Amazon, Super Mirco down within 1%.