Tilray Inc., the first full-service cannabis company to list on Nasdaq, has announced that it has received regulatory permits to export medical cannabis flower to Germany.
The company is now the first and currently only marijuana producer to export both cannabis oil and cannabis flower products to Germany. Rivals Canopy Growth and Cronos Group currently supply cannabis oil products to the German market.
“Today’s announcement marks another milestone for Tilray as we expand operations in the European Union,” Chief Executive Brendan Kennedy said in Thursday’s announcement.
“We are proud to be able to offer access to differentiated high-quality, pharmaceutical-grade medical cannabis products to patients in need.”
The stock has now seen over 300% in gains since going public in July. The stock broke the $100 threshold for the first time on Wednesday, despite short seller Citron Research reiterating a short call on the stock.
Citron reiterated its short call on Tilray stock Wednesday, in a note entitled “Our Final Word on $TLRY before $50.”
“Soon the stock market will have more options as the deepest cannabis IPO pipeline in history will detract capital from Tilray and traders will have new toys to play with,” the Citron analysts wrote. “These stock prices are equivalent to bitcoin mania – although it is even more ridiculous than bitcoin BTCUSD, -0.18%.”