Shares of Tilray (NASDAQ:TLRY) and its overall market cap have stormed the cannabis public market to finally surpass industry leader Canopy Growth (NYSE:CGC,TSX:WEED).
Tilray’s market cap has risen from an original US$1.5 billion market cap since its initial public offering (IPO) debut to reach a market cap of US$10.80 billion on Thursday (September 13).
Meanwhile, Canopy’s market cap on the Toronto Stock Exchange (TSX) has reached C$13.09 billion, or roughly just over US$10 billion.
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Since its IPO, Tilray’s share price has soared over 350 percent, with a significant portion of these gains coming in August.
Tilray closed the trading session on Thursday with a 14.11 increase to its stock, representing a price of US$119.76, alhtough after hours trading brought the company’s down 7.61 percent.
Since its IPO the share price of Tilray has soared over 350 percent. With a significant portion of these gains arriving in August.
Tilray closed the trading session on Thursday with a 14.11 increase to its stock, representing a price of US$119.76. However, in after hours trading the company had declined 7.61 percent.
Tilray a favorite for next alcohol partnership
Following the rumors of an entry from alcohol producer Diageo (NYSE:DEO) into the cannabis space, shares for Tilray quickly accelerated as the company became the one mentioned the most by financial advisors to gain some sort of alcohol partnership.
“[Tilray is] a quality name in the space and it would make Continue Reading