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Cannabis Stock Tilray Pops on IPO

Cannabis Stock Tilray Pops on IPO

Tilray (TLRY), a medical cannabis producer in Canada, debuted on the NASDAQ today. The company’s IPO was priced at $17, but the stock popped to a high of $23.94, representing an almost 40% increase. The company raised $152 million through this IPO and intends to use the proceeds to pay down debt and expand its production facility.