Shares of Tilray Brands Inc ( TLRY ) are trading higher Monday morning, building on a recent rally fueled by heavy trading volume and company announcements. The cannabis giant’s stock has been a focal point for investors in recent sessions, driven by a combination of high short interest and positive industry news.

What To Know: Over the trailing week, Tilray stock has surged approximately 23%. This investor enthusiasm was partly attributed to the company’s recent shareholder approval for a potential reverse stock split and the announcement of an expansion of its medical cannabis operations in Italy.

The substantial short interest in the stock, with nearly 20% of its float held by short sellers, has also likely contributed to a short squeeze, further propelling the price upward.

Adding to the positive sentiment, California state senators last Thursday unanimously approved a bill to pause a newly enacted cannabis tax hike for five years. The measure, which now moves forward, aims to provide relief to the state’s struggling legal cannabis industry.

While not yet law, this political momentum in a key market is being viewed as a significant potential tailwind for cannabis companies like Tilray, which stand to benefit from a more favorable tax environment.

Benzinga Edge Rankings: According to Benzinga Edge stock rankings, Tilray currently presents a mixed but compelling profile for investors. The stock scores exceptionally high on Value, with a rating of 80.55, suggesting that its shares may be undervalued compared to its industry peers or its fundamental financial health. This could signal a potential buying opportunity for those focused on value investing.

However, this strength is offset by significantly weaker scores in other categories. Tilray’s Momentum score is a low 5.26, and its Growth score is 21.75, indicating that the stock has been underperforming in price movement and lacks strong growth indicators.

Price Action: According to data from Benzinga Pro, TLRY shares are trading higher by 7.6% to 62 cents Monday morning. The stock has a 52-week high of $2.15 and a 52-week low of $0.35.

Read Also: EXCLUSIVE: Medical Cannabis Is Growing And Profitable, Says Aurora CEO — Investors Are Just Missing The Story

How To Buy TLRY Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Tilray Brands’ case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

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