Stock Alert: Tilray Up 13%

(RTTNews) - Shares of Tilray Inc. (TLRY) are currently gaining over 13% as cannabis stocks are rising with pro-reform Democrats are hoped to get majority in senate after Raphael Warnock won one of two Senate runoffs in Georgia early Wednesday.

TLRY is currently trading at $10.78, up $1.27 or 13.35%, on the Nasdaq.

With Warnock's win, Democrats are just a seat closer to a Senate majority. Meanwhile, Democratic candidated Jon Ossoff was leading Republican Senator David Perdue by just 0.4 percentage points after 98% of total vote counted.

Investors expects Democrats to pursue a more cannabis reform agenda under President-elect Joe Biden and Vice President-elect Kamala Harris.