Tilray Brands, Inc. (TLRY) is experiencing a surge in interest, largely driven by discussions on various Reddit forums. A significant amount of chatter has been centered around the potential for a short squeeze, with some users speculating that Tilray is well-positioned in the THC beverage market. One Reddit user noted, "$TLRY is at worst interesting, best positioned for the THC beverage market for sure," highlighting the company's potential in this niche. Additionally, there is speculation that a recent tweet by Roaring Kitty, a well-known figure in the meme stock community, might be indirectly referencing Tilray, further fueling the excitement.
The stock's movement is also being bolstered by high trading volumes, as noted in a Reddit post stating, "Volume 73,578,543 with an hour and a half remaining," which is significantly above the average daily volume. This increased activity suggests heightened interest and speculation among retail investors. Despite the enthusiasm, some users remain cautious, pointing out the company's history of dilution and the challenges facing the cannabis industry, such as oversupply and regulatory hurdles.
Tilray's stock is currently trading at $1.55, marking an 8.39% increase from the previous close of $1.43.