What's Going On With Tilray Brands Stock?

Tilray Brands, Inc. TLRY shares are trading higher Monday, and the stock has gained more than 16% over the last five days.

What To Know:

Cannabis investors are anticipating a vote from German lawmakers next week on a measure that would legalize the use and cultivation of recreational marijuana. Tilray Europe is headquatered in Germany and could see significant benefits if the measure is passed.

Tilray shares are climbing on above-average trading volume Monday. According to data from Benzinga Pro, more than 15.3 million shares have already been traded in the session, compared to the stock's 100-day average volume of just under 21 million shares.

TLRY has attracted short-sellers with 16.52% of available TLRY shares being sold short, according to data from Benzinga Pro.

According to data from Benzinga Pro, shares of TLRY are trading above the stock's 50-day moving average of $1.94, yet well-below its 52-week high low of $5.12

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TLRY Price Action: According to Benzinga Pro, Tilray Brands shares are up by nearly 8% at $2.05 at the time of publication.

Image: TungArt7 from Pixabay