Tilray Releases 11 Million Shares From Lock-Up
A large stash of Tilray (NASDAQ: TLRY) shares might soon hit the market. The company announced Tuesday that it has released 11 million such shares from lock-up agreements stemming from a corporate reorganization plan effected last September.
Share lockups typically occur when a company first issues stock; they are mandated by law to prevent big shareholders from flooding the market with their stock, thereby theoretically driving down the price.
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Source Fool.com