Marijuana Grower Tilray Increases by 50% as Cannabis Stocks Bloom

The CEO argued that the same can be said for food and beverage companies. Aurora Cannabis rose nearly 30% this week in Canadian trade after Canadian press service BNN Bloomberg announced that Coca-Cola was in talks with Aurora to develop weed-infused drinks.

Becoming one of Wall Street's most-watched headlines in 2018, Tilray on Tuesday posted its second-best day after announcing the approval of the Drug Enforcement Administration to import pot to the US for research. medical.

Shares traded on the US market jumped 29% in the previous session with 19 million shares exchangeable on 21.7 million shares.

Tilray said Tuesday he will work with the University of California San Diego's Medical Cannabis Research Center to study the safety, tolerability and effectiveness of marijuana against a neurological disorder.

"Clinical trials create a halo around the brand, they inspire confidence in doctors and regulators around the world and provide us with data and information to talk to pharmacists and doctors that they simply can not get our competitors".

The market capitalization of Tilray, despite a turnover of $ 9.7 million last quarter, is greater than more than a quarter of the S & P 500 index.

For reference, the valuation of the company exceeds that of Chipotle and E-Trade.

– CNBC & # 39; s
Chloe Aiello
and
Elizabeth Gurdus
reported contribution.