Tilray Brands Could See Higher Highs on this News

Keep an eye on Tilray Brands (TLRY).

If Germany legalizes the use of cannabis, TLRY could be a standout winner.

Germany’s chancellor Olaf Scholz is reportedly intent on legalizing cannabis in the country by 2024. If it happens, it could lead other European nations to follow suit. Even better, TLRY could be a major beneficiary, especially with its medical cannabis center in the country.

“We have invested in our infrastructure in Europe. And as a result, Tilray is uniquely positioned as the only company on the Continent with two EU facilities, located in Portugal and Germany,” Denise Menikheim Faltischek, Tilray’s head of international and chief strategy officer, said, as quoted by TheStreet.com.

While legalization in the U.S. at the federal level is an uphill battle, international legalization could be a big catalyst for companies, like TLRY.