Over the past weeks, many cannabis companies have seen their stocks record significant gains and one of the more notable gainers has been that of Tilray (NASDAQ: TLRY).
The markets have performed poorly in recent days but the Tilray stock is up by as much as 60% over the course of the past 12 months. At the same time, the Horizons Marijuana Life Sciences Index ETF, the benchmark for the cannabis industry, has gained 46%. It is easy to see why investors might be optimistic about the prospects of Tilray at this point in time. One of the biggest factors that could be behind the optimism is the fact that the company has established a robust international operation.
As more and more nations across the world legalize cannabis, the prospects of companies with strong international networks are going to brighten. Hence, it might be a good idea for investors to keep an eye on the Tilray stock this week.