December 20, 2018 / 11:51 AM / 2 years ago

BUZZ-Tilray: AB InBev JV gives stock rare moment of joy in December

** Tilray’s shares up 11 pct premarket after announcing a $100 mln JV with Anheuser-Busch InBev for cannabis-infused drinks

** New Age Beverages, which is also in the CBD-infused beverage market, up 8.6 pct in low vols

** On Tuesday, Tilray and Novartis unit Sandoz agreed to take their deal on medical marijuana worldwide

** TLRY closed 16 pct higher on that day, one of only three sessions this month that the stock has closed higher

** Still, TLRY is down ~31 pct so far in Dec and closing in on the 34 pct slump in October - the only two months its has finished lower since its mid-July IPO

** TLRY has surged over 300 pct since the IPO, far outpacing its peers despite a recent spate of partnerships and investments

** Cronos Group, in which Altria is taking a stake, is up ~68 pct in that same period; Canopy Growth, in which Constellation Brands is investing, is up ~8 pct

** Aurora Cannabis has slipped ~7 pct since TLRY debut and Aphria has sunk nearly 36 pct, mostly due to a recent critical short-seller report (Reporting by Savio D’Souza)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below