Canadian marijuana company Tilray Inc. (TLRY) closed trading up 31.71% to $22.29 after debuting in trading Thursday, July 19.
Tilray was the first cannabis company to hold an initial public offering in the U.S. after shares were priced Wednesday at $17 a share, higher than Wall Street expected. The company's CEO Brendan Kennedy told TheStreet's Executive Editor Brian Sozzi there was "tremendous interest" in the IPO during the roadshow.
Tilray is the first pure-play cannabis company to IPO in the U.S., but it's not the only marijuana stock trading on a major U.S. exchange. Canopy Growth Corp. (CGC) began trading on the New York Stock Exchange in May, and Cronos Group Inc. (CRON) was listed on the Nasdaq in May. Neither of those debuts were technically initial public offerings.