Why Tilray Stock Is Rocketing Higher Today
Shares of Tilray (NASDAQ: TLRY) are making big gains in Friday's trading. The marijuana specialist's share price was up 9.9% as of 12:15 p.m. ET today, according to data from S&P Global Market Intelligence.
Tilray stock is gaining ground today on the heels of new product announcements and a fresh round of pardons from President Joe Biden for 11 individuals convicted of marijuana-related offenses. Even with the big pop, the company's share price is still down roughly 16% year to date and 93% from its high.
Yesterday, Tilray published a press release announcing two new products in its Chowie Wowie cannabis-infused chocolate brand. The introduction of the new Soft Caramel and Crunchy Praline products suggests that the company continues to see long-term expansion potential in its Chowie Wowie brand.
Source Fool.com
