Tilray Shares Retreat Following Brief Trump-Inspired Rally

Tilray’s stock experienced a significant pullback on Wednesday, declining 4.6% to $1.66 with a downward gap opening. This retreat comes just days after the cannabis company’s shares had surged dramatically in response to former President Donald Trump’s endorsement of CBD products.

The previous Monday had seen Tilray shares explode with a remarkable 60.87% gain after Trump used his Truth Social platform to promote CBD as revolutionary for senior health. The former president characterized hemp-based CBD as a viable alternative to prescription medications—a declaration that sent shockwaves through the entire cannabis sector.

However, this market enthusiasm proved short-lived as profit-taking emerged among investors. Wednesday’s downward gap indicates substantial institutional selling pressure, with trading volume exceeding 160 million... Read more...