Tilray Brands, Inc. 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
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
The Benzinga Cannabis Capital Conference is coming to Florida
The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.
Get your tickets now on bzcannabis.com – Prices will increase very soon!