Merger gives rise to optimism

Tilray, which closed its merger with Aphria in May 2021, is known for being the first cannabis company to trade on a major U.S. stock exchange.

Like Canopy, the company has made forays into cannabis beverages in the past couple of years.

After the merger, Tilray stock bumped up to $26 in June 2021 before taking a steady, sustained tumble down to less than $7 in January.

Like Canopy, Tilray’s stock price trended upward mid-week, going from a $7.84 open on Monday to a high of $9.31 mid-Thursday, and opening at $8.92 on Friday.

But there’s one thing the two companies don’t have in common, and that’s the colour of their bottom line. Canopy is still in the red, while Tilray has seen modest profits in recent quarters despite the industry’s challenges.

Tilray’s merger with Aphria appears to have increased investor optimism in the company, and it’s in a position to take advantage of multiple markets in several countries thanks to strategic acquisitions.