Why Tilray Brands Stock Rose Today
Canadian cannabis company Tilray Brands (NASDAQ: TLRY) hasn't been a great stock for shareholders over the last year, with shares down more than 70%. Part of the reason for that has been the lack of progress toward legalizing cannabis in the U.S. But Tilray has established a presence south of the Canadian border and has profitable beer and spirits businesses there. An expansion of one of those businesses had investors pushing Tilray stock 4.6% higher as of 12:40 p.m. ET Friday.
Tilray isn't sitting still waiting for federal marijuana legalization to become a reality in the U.S. It is also working to grow its other business segments. Yesterday the company announced its Breckenridge Distillery wine and spirits business has renewed and expanded a distribution agreement that will make its products available nationwide.
Source Fool.com
