Why Is Tilray's Stock Surging And What's Next?

Tilray Inc (NASDAQ: TLRY) broke bullish from a triangle on May 25 and on Wednesday its stock had bullish continuation.

The move could be due to one or more of the following possibilities:

  • Renewed interest in the sector: A couple of the larger Canadian cannabis companies have seen increased bullish volume and higher prices over the past couple of days. OrganiGram Holdings Inc (NASDAQ: OGI) and Hexo Corp. (NYSE: HEXO) rose 3.3% and 2.9%, respectively, on Wednesday.
  • Relationship to meme stocks: GameStop Corp. (NYSE: GME) and AMC Entertainment Holdings Inc (NYSE: AMC) have surged this week. In January, GameStop and AMC were targeted for an epic short squeeze, with a parabolic rise and fall that began on Jan. 22 and ended on Feb. 2.
  • Tilray was next on the list …

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