Tilray Brands, Inc (NASDAQ:TLRY) gapped up about 4.5% higher on Thursday on news that the Cannabis Administration And Opportunity Act (CAOA) has been introduced in the U.S. Senate.
The long awaited and highly anticipated bill, introduced by Senate Majority Leader Chuck Schumer and Senators Ron Wyden and Cory Booker, would remove marijuana from the Controlled Substances Act and expunge prior convictions if signed into law.
