Here's Why Tilray Stock Rose Again Today
Canadian marijuana grower Tilray's (NASDAQ: TLRY) stock has soared in 2021. Even prior to today's surge, shares are more than 530% higher just since Jan. 1. Shares jumped again on Wednesday, rising 38% as of 10:20 a.m. EST.
Investors are jumping back in on optimism that the underlying business finally has a visible pathway to prosperity. Shares initially soared back in October 2018 after Canada legalized recreational marijuana. Even with the recent outsized gains, shares are still 60% lower than those exuberant highs.
Yesterday, the company reported a new distribution agreement in the U.K. to go along with other European expansions recently announced. But today's outsized move might also have to do with another Reddit trading frenzy.
Source Fool.com
