Why Tilray Stock Is Soaring Higher Today

Shares of Tilray Brands (NASDAQ: TLRY) were flying higher on Wednesday. The company's stock gained 7.5% as of 2:25 p.m. ET but gained as much as 20% earlier in the day. The leg up comes as the S&P 500 gained 0.2% and the Nasdaq composite lost 0.1%.Tilray stock received a boost from the release of fellow cannabis company Aurora Cannabis' positive earnings. This comes on the heels of the cooling of trade tensions with Canada.The cannabis business at large has struggled for years now as the market was flooded with entrants and proved much softer than many had hoped. However, Aurora, a major Canadian player, just posted numbers that show things may be turning a corner. The company reported 37% sales growth year over year for the fourth quarter of 2024 and, critically, record net income of $31.2 million. The company expects positive free cash flow through the end of the year.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool