Shares of several companies in the broader cannabis and consumer discretionary sector, including Tilray Inc (NASDAQ:TLRY), are trading lower amid overall weakness as traders continue to digest Wednesday's Fed rate hike announcement.
The Federal Reserve raised its target fed funds rate by 0.5% on Wednesday to a new range of between 0.75% and 1.0%, its first rate hike of at least half a percentage point in more than 20 years. The Fed also said it will begin reducing the size of its balance sheet starting on June 1… Read More
Tilray is a Canadian producer that cultivates and sells medical and recreational cannabis.
The stock closed Thursday down 7.7% at $4.89. According to data from Benzinga Pro, Tilray has a 52-week high of $23.04 and a 52-week low of $4.78.
