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The Canadian company Tilray, dedicated to the production of medical marijuana begins successfully on Wall Street: its first day, its price climbs by 31.7% than its market value climbed to $ 1.430 million .
The company is dedicated to the research, cultivation, processing and distribution of medical marijuana globally . His entry into the Nasdaq index – he will use the ticker "TLRY" – took place with an initial public offering of 9 million shares and a benchmark price of 17 dollars.
One of the greenhouses that produces cannabis for the Canadian company Tilray. (AP)
After the 31.7% rise in its price, the price per share was set at $ 22.39 . As is the case on the first day of trading, the leaders of the company ring the bell which marks the opening of the day on Wall Street.
Tilray, this way, joins two other Canadian marijuana giants who are already in the US market: Cronos, which started in February, and Canopy, which has been doing so since May
One of the medical marijuana formats that offers the Canadian company Tilray.
These two companies were already listed on the Canadian Stock Exchanges, unlike Tilray, who directly chose to land on Wall Street to make his initial public offering, coinciding with a time when Canada prepares to legalize – in October – the production of cannabis for recreational purposes .
Analysts believe that the measure will not lead to new market outflows for Canadian companies. But let the door open to a change of perspective for US companies today with difficulties in accessing the stock markets of both countries.
Canada is preparing to legalize marijuana use for recreation in October. (AP)
Specifically, Tilray's CEO, Brendan Kennedy, said the Wall Street Stock Exchange is a "change of perception" of the company regarding the marijuana sector.
Tilray's CEO, Brendan Kennedy, poses with the welcome message from the Nasdaq fund. (AP)
"It is only the beginning, we have a very long-term global vision and we wanted to see this event as an endorsement for the whole sector, not only us ",
Controlled by the shipping company. Privateer US investment, Tilray plans to allocate the funds raised to its public to make payments to its owner, as well as the start of new facilities for the cultivation and treatment of cannabis in Ontario.
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