With Marijuana Legalization In Sight, Tilray Stock Could Be A Major Beneficiary

Tilray  (TLRY) – Get Tilray Brands, Inc. Report shares, as well as those of other cannabis stocks and even cannabis-related stocks, soared on March 24. Investors were reacting to positive news regarding the legalization of cannabis at the federal level.

Long-awaited legalization in the United States would be a huge milestone for cannabis stocks. Since last year, the entire sector has seen a steep drop, in large part thanks to a lack of progress on the US legalization front.

Many struggling Canadian licensed producers (LPs), and even profitable US multi-state operators (MSOs), have seen their market caps shrink by 50% or more since June of 2021.

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