Why Tilray Brands Stock Is Surging Today
Canada's Tilray Brands (NASDAQ: TLRY) is having a strong trading session today. Specifically, the consumer packaged goods and cannabis company's stock was up by 6.75% on heavy volume as of 1:31 p.m. ET Wednesday.
What's behind this latest rally? Investors appear to be cheering the news that Germany's federal cabinet approved a marijuana legalization bill, potentially setting the stage for adults to buy up to 50 grams of cannabis per month and cultivate up to three plants for personal use. The bill still has to pass the country's Parliament.
Tilray Brands, through its merger with Aphria, sports a commercial footprint in Germany. Germany is the largest medical cannabis market in Europe and potentially one of the largest recreational markets as well.
Source Fool.com
