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

Actionable Trade Ideas

always free

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

A New High for Cannabis Investments

Riding a new high, experts believeΒ cannabis stocks have found their grooveΒ and are now poised for unprecedented growth.

JoinΒ Benzinga PotProfits. Our in-house canna stock expert, Michael Berger, is on a mission to uncover the most promising cannabis stocks poised for growth, even in a lackluster market. He leaves no leaf unturned to bring you the most enticing potential double-digit opportunities!

This year, the PotProfits portfolio has witnessed sizzling gains like:

  • 47.10% with $GTBIF
  • 40.23% with $TCNNF
  • 21.50% with $VFF

But here’s the twist: Michael is gearing up to unveil the next big winners, and he’s bursting at the seams to share these ticker symbols with you ASAP.

Don’t let the green rush leave you in the dust!

Swing Trading Ideas and Market Commentary

Need some new swing ideas? Get free weekly swing ideas and market commentary from Jonathan Bernstein here: Swing Trading.

Explore More

Weekly In-Depth Market Analysis and Actionable Trade Ideas

Get institutional-level analysis and trade ideas to take your trading to the next level, sign up for free and become apart of the community.