Dually-Listed Cannabis Stock Sees Significant Premarket Buying Pressure

Dually-Listed Cannabis Stock Sees Significant Premarket Buying Pressure

By: Tomas Ronolski - AllPennyStocks.com News

Tuesday, July 30, 2024

A well-known, dually-listed cannabis company is already turning heads so far during Tuesday’s premarket hours after the company reported better-than-expected Q4 financial results.

Traders were quick to snatch up shares of Tilray Brands Inc. (Nasdaq:TLRY) (TSX:TLRY), with traders currently willing to buy U.S. shares at $1.98/share (+8.20% implied open for sellers) at the time of writing. It should be an exciting session for this stock after the opening bell!

Tilray is a Canadian producer that cultivates and sells medical and recreational cannabis. In 2021, legacy Aphria acquired legacy Tilray in a reverse merger and renamed itself Tilray. The bulk of its sales are in Canada and in the international medical cannabis export market. U.S. exposure consists of CBD products through Manitoba Harvest and beer through SweetWater.

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