Tilray, Inc. (NASDAQ:TLRY) shares are trading lower amid profit-taking after the stock rallied yesterday following the company's second-quarter earnings results.

The company's stock rallied about 30% higher yesterday after announcing financial results that were significantly higher year-over-year.

Tilray is a Canadian cannabis company that cultivates and sells medical and recreational cannabis. In May, Aphria and Tilray completed a reverse merger in which the new company was named Tilray.

Tilray's stock was trading about 3.75% lower at $15.41 per share on Thursday. The stock has a 52-week high of $67 and a 52-week low of $4.41.