Why Aphria and Tilray Stocks Jumped Monday

Shares of Canadian marijuana company Aphria (NASDAQ: APHA) were moving up Monday, as it gets one step closer to its planned merger with Tilray (NASDAQ: TLRY). As of 12:15 p.m. EDT today, Aphria and Tilray shares were both trading about 9% higher than Friday's closing price. 

Today the companies announced special shareholder meetings will occur in mid-April to approve the previously announced merger. Aphria's special shareholder meeting is scheduled for April 14, and Tilray shareholder votes will be tallied April 16. The boards of directors for both companies unanimously support the merger.

Image source: Getty Images.

Continue reading

Source Fool.com