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Why Tilray Brands Stock Is Getting Higher

Tilray Brands, Inc. (NASDAQ: TLRY) shares are trading higher Monday amid continued momentum in the cannabis sector on U.S.
byErica Kollmann
September 11, 2023
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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

 
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