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