Tilray Brands, Inc. (NASDAQ:TLRY) shares are trading higher Monday amid continued momentum in the cannabis sector on U.S. efforts to reschedule marijuana.
The Details:
Cannabis stocks have been on a hot streak since Aug. 31 when it was reported that the Department of Health and Human Services sent a letter to the DEA recommending the reclassification of marijuana from a Schedule I to Schedule III substance.
The stock is moving higher on heavy trading volume with more than 43 million shares having been traded, compared to the stock’s 100-day average of 27.631 million shares.
According to data from Benzinga Pro, 13.22% of available shares are being sold short, and shares of TLRY are up more than 45% over the last 30 days.
Related News: What’s Going On With Aurora Cannabis Stock
TLRY Price Action: According to Benzinga Pro, Tilray Brands shares are up 7.45% at $3.24 at the time of publication.
Image: herbalhemp from Pixabay
