Tilray Brands Stock Is Climbing Monday: What’s Driving The Action?
Shares of Tilray Brands Inc (NASDAQ:TLRY) are trading higher Monday morning, building on a recent rally fueled by heavy trading volume and company announcements. The cannabis giant’s stock has been a focal point for investors in recent sessions, driven by a combination of high short interest and positive industry news.
What To Know: Over the trailing week, Tilray stock has surged approximately 23%. This investor enthusiasm was partly attributed to the company’s recent shareholder approval for a potential reverse stock split and the announcement of an expansion of its medical cannabis operations in Italy.
The substantial short interest in the stock, with nearly 20% of its float held by short sellers, has also likely contributed to a short squeeze, further propelling the price upward.
Adding to the positive sentiment, California state senators last Thursday unanimously approved a bill …