Tilray Brands (TLRY) Climbs 8% Ahead of Cannabis, CBD Policy Decision

We recently published 10 Hot Stocks Sparking Buying Frenzy. Tilray Brands Inc. (NASDAQ:TLRY) is one of the best performers on Tuesday.

Tilray Brands Inc. (NASDAQ:TLRY) grew its share prices by 8.23 percent on Tuesday to finish at $1.71 apiece as investors repositioned portfolios ahead of an expected decision from President Donald Trump on the legalization of cannabis and Cannabidiol (CBD) products.

With a positive decision expected in the coming weeks, investors are already pouring funds into cannabis product manufacturers, Tilray Brands Inc. (NASDAQ:TLRY), Canopy Growth, Cronos Group, and Aurora Cannabis.

It can be recalled that Trump earlier posted a three-minute video on his social media account promoting the use of cannabis and CBD for medical use, which investors took as a cue for the US government’s looming 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.

While we acknowledge the potential of TLRY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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