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Did HEXO Just Outmaneuver Tilray?

TheMotleyFool

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Tilray (NASDAQ: TLRY) has become the darling among Canadian cannabis producers this year. Why? You can credit the company's merger with Aphria. Tilray's shares have skyrocketed around 150% year to date, a much better performance than any of its top rivals.

But it isn't the only cannabis company that's done some wheeling and dealing. HEXO (NYSE: HEXO) announced last week that it plans to acquire Canada's largest privately owned licensed producer, Redecan. Did HEXO just outmaneuver Tilray?

Image source: Getty Images.

Source Fool.com

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