What's Going On With Tilray Stock?
Portfolio Pulse from Henry Khederian
Shares of Tilray Inc (NASDAQ:TLRY) are trading higher by 2.4% to $3.05 due to the recent momentum in the cannabis sector. This is driven by U.S. efforts to reschedule marijuana to a lower-risk drug category. The Department of Health and Human Services (HHS) has proposed this reclassification, which is based on an FDA evaluation of marijuana's classification.
September 15, 2023 | 2:55 pm
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Tilray's stock is trading higher due to the recent momentum in the cannabis sector and the U.S. efforts to reschedule marijuana. This could potentially increase the company's market and revenue.
The rise in Tilray's stock is directly linked to the momentum in the cannabis sector, which is driven by U.S. efforts to reschedule marijuana to a lower-risk drug category. If this reclassification happens, it could potentially increase the market for cannabis products and, consequently, Tilray's revenue.
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