Why Could Tilray Inc (TLRY) Stock Be In Focus This Week?

For a long time, the cannabis industry had been in the doldrums but in recent months things have been looking up. One of the most anticipated events in the industry is the proposed merger between Tilray Inc (NASDAQ: TLRY) and Aphria, two of the biggest operators in the industry.

This past Friday, the shareholders of Tilray voted for the mega-merger to go ahead. The new entity that is going to be formed between the two Canadian companies is going to be a massive global cannabis enterprise.

Related:  Francesca's Holdings Corporation (NASDAQ: FRAN) Rises Sharply, Net Loss, Sunk Revenue

The approval from Tilray shareholders is a significant development not only for the two companies but also for the cannabis industry at large. The shareholders approved as many as three out of the four amendments that had been proposed in a virtual meeting. However, it should be noted that the exact number of shareholders who had been in favor of the amendments had not been revealed by Tilray.

Anthony Gonzales

Biotech, Tech, and Crypto reporter Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.