APHA - Why Is Everyone Talking About Tilray Stock?
Many cannabis stocks soared in 2018 when Canada legalized recreational marijuana. But few had as wild a ride as Tilray (NASDAQ: TLRY) , which rocketed up by more than 800% in just a six-week span beginning in August of that year. The shine wore off, however, after legalization became official in October 2018 and investors realized it wasn't a direct line to riches for Tilray.
While shares are still almost 90% off those September 2018 highs, they've tripled thus far in 2021. And there's a good reason for investors to be talking about the company again: It's getting closer to the shareholder vote needed to approve its merger with fellow Canadian pot grower Aphria (NASDAQ: APHA) .
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Why Is Everyone Talking About Tilray Stock?