A five-year old British Columbia-based medical cannabis company just made its debut in the U.S. markets.
Tilray, which sell its products to patients, as well as researchers, governments, and pharmacies, opened on the NASDAQ on Thursday.
The company priced 9 million shares at $17 a share and they hit as high as $22.39. This represented an increase of 32%.
Tilray is the very first cannabis company to conduct an IPO in the United States. but cannot sell its products in the U.S. market, given that marijuana remains illegal under federal law.
So far 30 states and Washington, D.C. have legalized it in some form.