Why Tilray Stock Soared 27.5% Today
Shares of Tilray Brands (NASDAQ: TLRY) soared today, finishing up 27.5%. The jump came as the S 500 lost 0.3% and the Nasdaq Composite gained 0.2%.
The cannabis company's stock is rising after President Donald Trump confirmed that his administration is looking into reclassifying marijuana -- a move that could be a game changer for the cannabis industry.
On Monday, Trump confirmed from the Oval Office that he is considering reclassifying cannabis and cannabis-related products as Schedule III controlled substances, saying, "a lot of people want to see it."
Source Fool.com
