Why Tilray Stock Crushed the Market on Wednesday
In what's hardly a common occurrence, marijuana stock Tilray (NASDAQ: TLRY) had quite the up session on the market Wednesday. On two pieces of good news for the broader North American pot sector, the Canadian weed company's share price rose by 4%. That was more than good enough to beat the S&P 500 index, which inched up a mere 0.3%.
Arguably the more impactful of the pair was a confirmed item -- Twitter's change in policy regarding marijuana advertising. The micro-messaging platform company announced that licensed cannabis companies are now permitted to target American and Candadian Twitter users.
There are some fairly strict limits to this. Advertisers broadcasting to U.S. users "may not promote or offer the sale of cannabis (including CBD -- cannabinoids)," as Twitter detailed on its website; in Canada the restriction is that they "may only promote informational or brand-preference content."
Source Fool.com
