Tilray Brands (TLRY) Hits New All-Time High as Trump Promotes Cannabis, CBD for Medical Use

We recently published 10 Stocks With 10-60% Upside. Tilray Brands Inc. (NASDAQ:TLRY) is one of the top performers on Monday.

Tilray soared at an all-time high on Monday as investors took path from President Donald Trump’s promotion of the use of cannabis and cannabidiol (CBD) in the US.

In intra-day trading, Tilray Brands Inc. (NASDAQ:TLRY) hit its highest price of $1.86 before trimming gains to finish the day just up by 60.87 percent at $1.85 apiece, as investors took Trump’s three-minute video post promoting the use of cannabis and CBD for medical use as a cue for the US government’s support for the legalization of the substance.

According to the video, the CBD oil is able to revolutionize senior healthcare and reduce medical costs in the US by $64 billion.

The announcement helped propel share prices of cannabis product makers, including Tilray Brands Inc. (NASDAQ:TLRY), Canopy Growth, Cronos Group, and Aurora Cannabis, among others.

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Disclosure: None. This article is originally published at Insider Monkey.