Why Tilray's Stock Is Trading Higher Today

Tilray TLRY shares are trading higher Monday after the company received the first authorization to offer medical cannabis products in Portugal.

See also: How to Invest in Cannabis Stocks

Tilray, headquartered in Nanaimo, Canada, cultivates and sells medical and recreational cannabis through a portfolio of brands that include Canaca, Dubon, and Manitoba Harvest. The bulk of Tilray's sales are in Canada, but the company also sells CBD Products in the U.S. and exports medical cannabis globally from its production facilities in Canada and Portugal. Tilray also has a joint venture partnership with AB InBev to develop cannabis-infused drinks.

Tilray's stock was up 2.8% at $18.62. The stock has a 52-week high of $22.61 and a 52-week low of $2.43.