Tilray Inc (NASDAQ: TLRY) is having yet another incredible day in the market, as we’ve seen in just about every session over the past several weeks. The stock is currently trading at $232.48 per share after running up 50.01% in value as we head into the mid-day.
The gains in Tilray come after the company has set the stage for a strong performance in the coming recreational cannabis market in Canada as well as released several announcements of global growth. In the past week, the company has announced a global footprint that has expanded into three new nations. Moreover, with a strong list of supply agreements, the comapny’s products will likely be seen by more than 70% of its target audience in Canada as the market opens on October 17, 2018.
In Other Cannabis Stock News
In other news, New Age Beverages Corp (NASDAQ: NBEV) continues to fly high. The company that isn’t normally looked at as a cannabis company seems to be seeing strong growth in value largely because of the idea that Coca Cola may be interested in taking over the company after it trademarked several cannabis-related drink names.
In other news, the company also announced that it has expanded its retail footprint, bringing its products to shelves across the United States Eastern seaboard.
As we head into the mid-day, NBEV is trading at $4.19 per share after a gain of $1.37 per share or 48.58%.
Cronos Group Inc (NASDAQ: CRON) and Canopy Growth Corp (NYSE: CGC) are both seeing strong gains in value as investors seem to be excited about the coming opening of the recreational cannabis market in Canada. Keep in mind, Tilray, Cronos and Canopy Growth are the three companies that are set to take the most advantage of this coming market.
As we head into the mid-day, CRON is trading at $14.60 after climbing 26.28% and CaGC is trading at $55.12 after gaining 6.22%.
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