Tilray stock headed for its second straight day of explosive gains on Tuesday after the potted planter announced a deal to ship medical marijuana to the UK

Shares in the Canadian company rose around 20 percent in premarket trading to $ 3625 as of 8:02 am via the partnership with London-based Grow Pharma, which will import and distribute Tilray’s medicinal cannabis products in the UK. p>
The early gain put Tilray’s shares on track to build on Monday’s 17 percent jump that took the stock to its highest closing price since September 2019

The UK announcement was another step towards international expansion for Tilray Tilray two months ago announced plans to team up with colleague Aphria to create the world’s largest cannabis company

Tilray expects a range of cannabis products to be available to UK patients by March for prescriptions from their private doctors or through the UK’s National Health Service

“As demand continues to grow in the UK, Tilray is well positioned to be a leading provider of medical cannabis products,” said Tilasch Europe Managing Director Sascha Mielcarek in a statement. “Regulations are moving forward as more countries across the board Europe recognize the benefits of medicinal cannabis and its potential for improving the quality of life of patients ”

The Grow Pharma deal was the last in a string of international victories for Tilray. Last week, the company received marketing authorization to sell medicinal cannabis in Portugal and the French authorities selected the company in late January for pot medicinal products there Deliver experiments

Tilray’s share price has more than tripled since he announced his merger deal with Aphria in December, earnings accelerated in January when President Biden was sworn in and the Democrats took control of the Senate, increasing the chances of getting marijuana could be further legalized in the US

Senate Majority Leader Chuck Schumer added momentum last week by posting a joint statement with Sens on Cory Booker and Ron Wyden pledging to “propose and advance comprehensive cannabis reform laws”

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Tilray stock

World News – CA – Tilray stock rises sharply on day two after the UK cannabis deal

Source: https://nypost.com/2021/02/09/tilray-stock-surges-for-second-day-after-uk-cannabis-deal/