| “This Bud’s for You” Takes on New Meaning as Anheuser-Busch and Tilray Announce New Research Partnership
Tilray Inc. (NASDAQ: TLRY), one of Canada’s premier cannabis growers, announced on Thursday that it had signed an exclusive research partnership with Anheuser-Busch (NYSE: BUD), and more specifically, Anheuser’s Canadian subsidiary, Labatt Breweries of Canada. The deal is strictly for a research partnership, and Anheuser will not be purchasing any equity in the company—at least not yet. Tilray shares skyrocketed after the deal was announced, opening 13% higher before settling down to $78.25 per share, a more modest gain. Rival cannabis companies Cronos Group (NASDAQ: CRON) and Canopy Growth (NYSE: CGC) saw modest gains on the news as well. Despite the good news for Tilray, it’s clear from the chart that shares are suffering through a month’s long bear market. This will likely continue while investors hang on the sidelines, waiting for the industry to consolidate and regain its footing after making a parabolic rise earlier this year. |
Now it is really unfortunate that Tilray has dropped almost 50% since we have invested. Mind you, I don’t smoke. But this roller coaster of a stock investment is concerning in good and ways. Purchased a few months ago at 118 a share now down to approx 70. Lets hope Tilray picks it up. That with the Trump legalization of Hemp farming several days ago… Lets see where this goes.
“Dave’s not here right now”. Lets get Dave back home lol.
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