Why Is Tilray Trading Higher Today?
Tilray Inc (NASDAQ:TLRY) is trading higher Wednesday morning amid increased retail interest following the launch of a new medical cannabis brand.
What Happened: Tilray on Tuesday announced Symbios, a new medical cannabis brand it launched in order to provide a broader spectrum of formats and unique cannabinoid ratios at a better price point.
Symbios offers medical patients health and wellness products including flower, oils and pre-rolls.
“As we look ahead, we remain focused on building momentum across our three medical brands – Symbios, Aphria, and Tilray — while meeting the large and growing demand for new, high-quality cannabis products that promote health, wellness, and wellbeing," said Irwin D. Simon, CEO of Tilray.
Retail Interest: Tilray is the top mentioned cannabis stock on the Subreddit r/wallstreetbets over the last 24 hours. The stock is also in the top ten most-mentioned stocks of all tickers on the popular Subreddit.
Price Action: Tilray has traded as high as $67 and as low as $4.41 over a 52-week period.
At last check Wednesday, the stock was up 8.85% at $22.01.
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