Tilray stock headed for its second straight day of explosive gains Tuesday after the pot grower announced a deal to ship medical marijuana to Britain. The Canadian company’s shares surged about 20 percent in premarket trading to $36.25 as of 8:02 a.m. on news of its partnership with London-based Grow Pharma, which will import and distribute Tilray’s medical cannabis products in the UK. The early gain put Tilray’s shares on track to build on Monday’s 17 percent jump that drove the stock to its highest closing price since September 2019. The UK announcement marked another step toward international expansion for Tilray, which announced plans two months ago to merge with fellow pot producer Aphria in a deal that will create the world’s largest cannabis company. Tilray said it expects to have a range of cannabis products available by March for UK patients, who will be able to get prescriptions for them from their private doctors or through Britain’s National Health Service.

February, New York Post, 02/08/2021 19:00:00

Open article: https://nypost.com/2021/02/09/tilray-stock-surges-for-second-day-after-uk-cannabis-deal/