Tilray Stock Surges as Cannabis Reform Gains Momentum

Shares of Tilray jumped nearly 20% on Monday, extending a five-session rally that has boosted the cannabis producer’s stock by 28%. The surge followed a bullish call from Jefferies analyst Kaumil Gajrawala, who raised his price target from $1.50 to $2 while maintaining a Buy rating. He noted that sentiment around cannabis companies is improving, with upcoming regulatory decisions expected to reshape the industry.

Read More: Tilray (TLRY) Skyrockets 20% – Here’s Why!