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.
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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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