Tilray (NASDAQ:TLRY) stock is on the move Monday as investors in the cannabis company react to it securing a trading license in Germany for its Aphria RX subsidiary.
With this trading license, Aphria RX is now able to sell and distribute medical cannabis products to a wide range of locations. That includes pharmacies, hospitals, and medical wholesalers in Germany.
Investors will note that this builds on the cannabis cultivation license that Tilray already has in Germany. This gives it a strong foothold in the country for local cannabis production and sales.
Denise Faltischek, Chief Strategy Officer and Head of International at Tilray, said this about the news.
“This milestone of Aphria RX obtaining both its new cultivation license as well as its trading license further expands Tilray’s leadership in medical cannabis research, cultivation, production and distribution in Germany and once again proves our commitment to be one of the most responsible, trusted and market leading cannabis companies in the world with a portfolio of innovative and high-quality products that address the needs of patients.”
TLRY Stock Movement Today
Despite the additional license in Germany, TLRY stock isn’t seeing much trading today. As of this writing, only about 12 million shares have changed hands. That’s still well below its daily average trading volume of about 21 million shares.
TLRY stock also isn’t seeing much movement today with a slight gain as of Monday afternoon.
Investors will want to stick around for more of the most recent stock market stories today!
We have all of the hottest stock market news that investors need to know about on Monday! Among that is what has shares of Palantir Technologies (NYSE:PLTR), AMC Entertainment (NYSE:AMC) and Tivic Health Systems (NASDAQ:TIVC) stock on the move today. All of that info is ready to go at the links below!
More Stock Market News for Monday
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- Tivic Health Systems (TIVC) Stock Pops Another 39%
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
