Why Tilray Brands Stock Stormed Higher in January

Shares of the cannabis and consumer packaged-goods company Tilray Brands (NASDAQ: TLRY) gained a noteworthy 20.4% over the course of January, according to data provided by S&P Global Market Intelligence. The big gain came in response to a wave of bargain buying across the landscape of beaten-down growth stocks, especially among those listed on the Nasdaq stock exchange. Investors piled into heavily discounted tech and growth equities in January as a result of the Federal Reserve's decision to temper future interest rate hikes, a slowing core inflation rate, and better-than-expected macroeconomic data.