Stocks trading higher
On December 19 at 8:40 AM EST, Tilray (TLRY) was trading with a gain of nearly 4.6% at ~$80. The stock kept climbing after it gained 16% in the December 18 trading session.
The spike in the company’s stock price was primarily fueled by its announcement of its partnership with Novartis’s generic drug arm, Sandoz, to take cannabis-infused medical drugs global. These two companies may also introduce co-branded products, which would be a huge deal for Tilray on the back of its global brand recognition opportunity.