Why Tilray Stock Is Up Nearly 30% This Week
Portfolio Pulse from Henry Khederian
Shares of Tilray Inc (NASDAQ:TLRY) have risen by 28% to $3.00 over the past five days, amid strength in the broader cannabis sector. This follows a report suggesting the Department of Health and Human Services (HHS) has called for the reclassification of marijuana from a Schedule I to a Schedule III drug under the Controlled Substances Act, which would move it to a lower-risk category.
September 01, 2023 | 2:45 pm
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Tilray's stock has risen significantly following a report suggesting a potential reclassification of marijuana to a lower-risk drug category. This could potentially boost the cannabis industry and positively impact Tilray's business.
The potential reclassification of marijuana to a lower-risk drug category could lead to increased acceptance and usage of cannabis, which would likely boost the cannabis industry and positively impact companies like Tilray. This explains the recent rise in Tilray's stock price.
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IMPORTANCE 80
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