Why Tilray Shares Jumped Today
Shares of Canadian cannabis company Tilray Brands (NASDAQ: TLRY) jumped by double digits today, with the stock still up about 9% as of 3 p.m. ET. While there was some news from the company itself, the bounce was more likely due to some comments from a key senator in Washington, D.C.
Legislation that would decriminalize marijuana at the federal level is being discussed in the U.S. Senate right now. Three Democratic senators sponsoring the Cannabis Administration and Opportunity Act (CAOA) don't hold out high hopes that they have the needed votes to pass the bill. But cannabis news site Marijuana Moment reported today that Senate Finance Committee Chairman Ron Wyden said he still hopes "some key reforms" on cannabis will be agreed upon and enacted in the current congressional session.
Source Fool.com
