HomeMarket NewsSmall CapsInvestors Cheer as Tilray Brands Stock Surges on the Verge of Legalization...

Investors Cheer as Tilray Brands Stock Surges on the Verge of Legalization Craze

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tilray brands stock tlry shares legalize cannabis

Tilray Brands, Inc. TLRY shares continue to soar, delighting investors and defying gravity to the tune of a 16% increase over the last five days.

The Legalization Buzz:

Cannabis enthusiasts are abuzz with excitement, eagerly awaiting a pivotal vote from German lawmakers next week on the legalization of recreational marijuana. Should the measure pass, the Germany-based Tilray Europe is poised to reap substantial benefits.

Amped on the legalization speculation, Tilray shares are rocketing on above-average trading volume. Trading data from Benzinga Pro reveals a staggering 15.3 million shares have exchanged hands so far, compared to the stock’s 100-day average volume of just under 21 million shares.

The Short-Selling Game:

TLRY has caught the attention of short-sellers, with a significant 16.52% of available TLRY shares being shorted, according to data from Benzinga Pro.

On the Move:

Trading above the stock’s 50-day moving average of $1.94, the TLRY shares are making their way to the stars, yet still well-below its 52-week high low of $5.12.

Related News: What’s Going On With Bitcoin-Miner Hut 8 Mining Stock?

TLRY Price Action: According to Benzinga Pro, Tilray Brands shares are up by nearly 8% at $2.05 at the time of publication.

Image: TungArt7 from Pixabay

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