Shares of the cannabis and consumer packaged-goods company Tilray Brands (NASDAQ: TLRY) gained a noteworthy 20.4% over the course of January, according to data provided by S&P Global Market Intelligence. The big gain came in response to a wave of bargain buying across the landscape of beaten-down growth stocks, especially among those listed on the Nasdaq stock exchange. Investors piled into heavily discounted tech and growth equities in January as a result of the Federal Reserve's decision to temper future interest rate hikes, a slowing core inflation rate, and better-than-expected macroeconomic data.
Imagining a rosy future for the Canadian cannabis giant is easy, but its path to get there will be hard.
There's more evidence now favoring medical marijuana legalization. But medical marijuana is already legal in most states.