Why Tilray Stock Plunged Today
A sharp pull-back in marijuana stocks dinged the value of Tilray Brands (NASDAQ: TLRY) shares on Monday. At the end of last week, investor hopes rose that President Donald Trump would take an important step toward the de facto legalization of the drug, but those hopes didn't materialize on Monday. Investors eagerly sold out of Tilray, leaving the stock with a 10% loss that trading session.
Pot stock bulls came out in force at the end of last week, excited about several reports in The Washington Post stating that Trump is expected to sign an executive order (EO) directing the Justice Department to begin rescheduling the drug.
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Source Fool.com
