Tilray Brands Inc (NASDAQ:TLRY) continues to trend higher Wednesday on increased investor optimism surrounding federal cannabis legalization.
The House Rules Committee is scheduled to hold a hearing on the Marijuana Opportunity Reinvestment and Expungement (MORE) Act on Wednesday, which could decriminalize cannabis federally. The MORE Act is expected to be prepared for a full House vote by Friday.
Tilray is a Canadian producer that cultivates and sells medical and recreational cannabis. The company is set to announce its fiscal third-quarter financial results before the market opens on April 6.
See Also: Tilray To Report Q3 Financial Highlights On Heels Of Deal With HEXO
TLRY Price Action: Tilray has traded between $4.78 and $24.13 over a 52-week period. The stock has surged more than 50% over the last week.
Tilray shares were up 5.97% at $8.82 at time of publication, according to data from Benzinga Pro.
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Photo: 7raysmarketing from Pixabay.
