Why Tilray Brands Soared Monday and Pulled Back Some on Tuesday

Shares of Tilray Brands (NASDAQ: TLRY) declined as much as 12.4% on Tuesday, but were down about 9% as of 10:30 a.m. ET. The pullback comes a day after a dramatic rally in cannabis names sparked by a video posted by President Donald Trump that touted cannabidiol's (CBD) benefits for seniors, and floated the idea of Medicare or Medicaid coverage.Image source: Getty Images.On Monday, Tilray jumped about 60%, as the video rekindled hopes for a friendlier policy backdrop and drew momentum traders into the group. Sector ETFs and peers surged in tandem, signaling a broad, sentiment-driven move rather than company-specific news. Today's decline looks like profit taking after the outsized move, with shares still up about 50% this week at the time of this writing.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool