TLRY Stock News: Tilray gains as struggling cannabis sector spikes ahead of 4/20
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CLAIM OFFER- NASDAQ:TLRY gained 1.57% during Tuesday’s trading session.
- Cannabis stocks rise ahead of the 4/20 holiday on Wednesday.
- Cannabis investors await the MORE Act vote at the Senate level after it is postponed.
NASDAQ:TLRY reversed its recent downward trend on Tuesday, as the cannabis sector rode higher alongside a broader market rally. Shares of TLRY gained 1.57% and closed the trading day at $5.83. It has been a difficult year for Tilray and the cannabis industry, and shares of the Canadian company are down by more than 21% year to date and 63% over the past 52-weeks. The stock is currently trading below both its 50-day and 200-day moving averages, and any momentum it gained from the successful MORE Act vote in the House of Representatives has since dissipated completely.
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The boost on Tuesday was due to a broader market rally that saw the major averages record one of their best sessions in April. Cannabis stocks received an extra jolt from the unofficial marijuana holiday falling on Wednesday, which is April 20th or 4/20. Traditionally the date has been a rallying point for cannabis stocks, although it is generally short-lived. Other cannabis stocks on the rise on Tuesday include GrowGeneration Corp (NASDAQ:GRWG), Aurora Cannabis (NASDAQ:ACB), and Sundial Growers (NASDAQ:SNDL).
TLRY stock price
Cannabis investors will have to wait at least another month for the MORE Act vote in the US Senate as this month’s vote was recently postponed. The Democratic party, which is led by Majority Leader Chuck Schumer, is actively working with other members of the Senate to strengthen the proposal for federal marijuana legalization as well as the expungement of those serving time in prison right now for the possession of cannabis. No date has been set for the Senate vote.
- NASDAQ:TLRY gained 1.57% during Tuesday’s trading session.
- Cannabis stocks rise ahead of the 4/20 holiday on Wednesday.
- Cannabis investors await the MORE Act vote at the Senate level after it is postponed.
NASDAQ:TLRY reversed its recent downward trend on Tuesday, as the cannabis sector rode higher alongside a broader market rally. Shares of TLRY gained 1.57% and closed the trading day at $5.83. It has been a difficult year for Tilray and the cannabis industry, and shares of the Canadian company are down by more than 21% year to date and 63% over the past 52-weeks. The stock is currently trading below both its 50-day and 200-day moving averages, and any momentum it gained from the successful MORE Act vote in the House of Representatives has since dissipated completely.
Stay up to speed with hot stocks' news!
The boost on Tuesday was due to a broader market rally that saw the major averages record one of their best sessions in April. Cannabis stocks received an extra jolt from the unofficial marijuana holiday falling on Wednesday, which is April 20th or 4/20. Traditionally the date has been a rallying point for cannabis stocks, although it is generally short-lived. Other cannabis stocks on the rise on Tuesday include GrowGeneration Corp (NASDAQ:GRWG), Aurora Cannabis (NASDAQ:ACB), and Sundial Growers (NASDAQ:SNDL).
TLRY stock price
Cannabis investors will have to wait at least another month for the MORE Act vote in the US Senate as this month’s vote was recently postponed. The Democratic party, which is led by Majority Leader Chuck Schumer, is actively working with other members of the Senate to strengthen the proposal for federal marijuana legalization as well as the expungement of those serving time in prison right now for the possession of cannabis. No date has been set for the Senate vote.
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