Tilray Brands (TLRY -2.42%) stock rocketed on Monday, soaring more than 60% after President Donald Trump posted a video on his Truth Social account promoting marijuana legalization to treat ailing senior citizens -- and covering the treatments with Medicare.
Tilray stock gave back some gains over the next couple of days, true, as momentum traders exited the marijuana train and pocketed their winnings. But on Thursday, Tilray moved higher again, rising 5.6% through 9:55 a.m. ET.
Image source: Getty Images.
Tilray's international news
And why? Overseas, Tilray announced Tuesday it is expanding production of premium "Tilray Craft" cannabis at its production facility in Germany.
Tilray says it will produce "five new cannabis flower products" in Germany, tailored for the "physicians and pharmacies" markets for medical marijuana.
Why is this news important? Well, consider that in the U.S., while we may think President Trump is about to back marijuana legalization, we don't know that for sure. Neither can we be 100% certain that Congress will go along with the idea, or how long it might take to pass legal weed into law.
What we do know is that right now, Europe is a bigger marijuana market for Tilray than the U.S., with "EMEA" revenues running north of $323 million per year, versus U.S. revenue of less than $274 million, according to S&P Global Market Intelligence data.
What do Tilray investors need to know?
For the time being, Tilray's German news may be more important than its U.S. news. Also important to know: Tilray stock lost $2.2 billion over the last 12 months, and Tilray stock is only worth about $2.2 billion in market capitalization!
If you're going to invest in this marijuana stock, tread carefully, and pay careful attention to the news -- both here and abroad.
