TLRY Stock: Why The Price Substantially Increased Today

By Amit Chowdhry ● Oct 19, 2021
  • The stock price of Tilray Inc (NASDAQ: TLRY) increased by over 15% today. This is why it happened.

The stock price of Tilray Inc (NASDAQ: TLRY) increased by over 15% today. Investors responded positively to Tilray announcing the expansion of its leadership team with the appointment of Blair MacNeil as President of Tilray Canada. And in this new role, Blair will drive Tilray’s next stage of growth in Canada and oversee sales, marketing, and operations across medical and adult-use cannabis businesses. Blair is going to report to Jim Meiers – who has been appointed to Chief Operations Officer of Tilray.

Blair joins Tilray from Bacardi where he was the General Manager for their Canadian beverage alcohol business. And as a tenured consumer packaged goods executive, Blair has extensive experience at high-growth companies, including prior leadership roles with Stoli, River Bend, Corby Distilleries, and Pepsi.

Since completing the business combination with Aphria in May 2021, Tilray continues to maintain its market share position in Canada and remains focused on accelerating the company’s long-term global strategy and development towards building the world’s leading cannabis-focused consumer brands company.

KEY QUOTE:

“Blair MacNeil has a proven track record in driving accelerated growth for industry-leading brands, and we are thrilled to welcome him to our senior leadership team. His extensive experience in growing consumer loved brands will further advance our growth strategy and expand our presence across Canada to reach our 30% market share goal by the end of fiscal year 2024. We would also like to congratulate Jim on his well-deserved promotion.”

— Irwin D. Simon, Chairman and Chief Executive Officer

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.