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$TLRY Tilray Stock In Focus As Cannabis Decriminalization Gains Legislative Momentum

Tilray Brands ( NASDAQ:TLRY, $TLRY) ) stock is catching investors eyes, jumping 14% last week after legislative tailwinds show promise on the cannabis decriminalization front. This move comes after news that the U.S. House is lighting up the “Marijuana Opportunity Reinvestment” bill, which would need to pass in the Senate in order to become law. Although a similar bill in 2020 failed in the Senate, this time the Senate is controlled by the Democrats that support the bill. Thus, $TLRY and its investors may fare better this time around.

Of course, congress is a finicky bunch. Still, if the bill passes, expect Biden to sign it. If that happens, Tilray stock would likely be off to the races. Also, news of the bill getting to the Senate could also start the rally. Trading ahead of the news, at least for the bulls, may be a wise consideration.

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