Why Tilray Shares Jumped While the Market Dropped Today
Shares of Tilray Brands (NASDAQ: TLRY) are defying the negative market momentum with big gains today. The stock popped nearly 30% and held on to a gain of 27.9% as of 11:05 a.m. ET on Tuesday.
The Canadian company most known for its cannabis business was in the news for its other growing segment today.
In addition to growing its Canadian and international cannabis sales, Tilray has been working to build a portfolio of consumer packaged goods. It has acquired a mix of U.S.-based craft breweries and distilleries over the past several years. That strategy hasn't helped the stock, though, as shares have declined significantly over the past three years.
Source Fool.com
