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Tilray, the cannabis producer, reported first-quarter earnings after the bell on Tuesday.
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In an effort to speed up the modernization laws in the US, Terra Tech plans to take out a full-page ad in the Wall Street Journal as soon as next week aimed directly at President Donald Trump, as well as buying advertising slots during Fox & Friends.
One of Canada’s largest cannabis companies is surging after getting approval to export new products to Germany
Shares of Tilray, one of Canada's largest cannabis companies, surged on Thursday after the company announced it had received regulatory clearance to export flower products to Germany. Tilray has soared over 500% since it went public in July. Other marijuana stocks have also seen big price gains.
Most marijuana companies are traded on Canadian exchanges due to the country's more lax laws when it comes to the cannabis. Still, however, a handful are traded in the US, including the three largest producers by market cap, due to the companies' need for exposure to American capital markets.
Weed stocks are going nuts after one of the largest marijuana companies strikes a deal for lab-made THC
The partnership will research ways to make cannabinoids — the active ingredients in marijuana — in a lab instead of from plants.
"Yeah right, Diageo would ever do a deal with a company who has a history of contamination and has proven that they cannot even produce a small amount of commercial product," writes Citron. "This is a NON EVENT. Citron feels stupid even discussing this, but it had to get mentioned."
Weed stocks are surging after one of Canada’s largest cannabis companies doubled its quarterly sales
Tilray is now valued at $4.9 billion, despite its losses, and could keep growing thanks to investments from major players in other sectors, especially alcoholic beverages. Constellation Brands catalyzed a huge rally in Canopy Growth’s stock through the announcement of two investments recently.
The fresh high comes after Constellation Brands, the company behind Corona beer and Svedka vodka, said it would up its stake in the Canadian cannabis company by $4 billion.
The CEO of the world’s largest publicly-traded cannabis company explains why he partnered with the $41 billion brand behind Corona
"We will definitely be making beverages, but since there is no alcohol there will be no calories, which means the pounding on your liver is effectively nil." he said. "And did I mention the no-calories part?"