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Benzinga
Benzinga
Business
Melanie Schaffer

Why Tilray, Canopy Growth Look Set For New Highs Despite Failing To Hold After-Hours Surge

Canopy Growth Corporation (NASDAQ:CGC) and Tilray, Inc (NASDAQ:TLRY) gapped up slightly higher on Wednesday after running up to 7.43% and 12.87%, respectively, in the after-hours trading session on Tuesday.

The beaten down cannabis sector has seen renewed interest recently, with several high-profile mergers and acquisitions making headlines as the larger producers attempt to gain control over the market. The most recent acquisition, which was announced on Tuesday, will see Cresco Labs, Inc (OTC:CRLBF) acquire Columbia Care (OTC:CCHWF) for a whopping $2.1 billion.

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