Tilray Shares Continue to Climb Higher on Second Day After Export Approval

Tilray Shares Continue to Climb Higher on Second Day After Export Approval
(image via Toronto Star)

Tilray Shares Continue to Climb Higher on Second Day After Export Approval

TORONTO — Shares in marijuana company Tilray Inc. were up nearly 20 percent in early trading.

The move in the stock follows a nearly 30 percent jump on Tuesday after the company announced it had received approval to export a medical cannabis product to the U.S. for use in a clinical trial.

The company will be exporting capsules with two active ingredients extracted from the cannabis plant for a clinical trial as a potential treatment for essential tremor, a neurological disorder.

Tilray shares shot up over US$230 just after the trading day began but quickly backed off.

The stock was up US$28.98 at US$183.96 in early trading on the Nasdaq market.

Tilray completed its initial public offering in July with its shares priced at US$17 per share.

The Canadian Press

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