Cannabis producer Tilray misses on both sales and earnings (TLRY)

The cannabis producer Tilray missed on both the top and bottom lines, sending shares down as much as 5% after Tuesday's closing bell.

A Tilray worker tends to cannabis plants.
  • The cannabis producer became the first pot company to have an initial public offering in the US in July.

Cannabis producer Tilray

he so-called "green rush" in the stock market can be traced back to the middle of August when the beverage maker Constellation Brands announced a $4 billion investment in the cannabis producer Canopy Growth.

In October, Canada became the second country after Uruguay to legalize marijuana for recreational use. And last week, Michigan joined nine other US states and Washington, DC, in legalizing the drug for anyone over the age of 21. So far, 33 states and Washington, DC, allow medical marijuana.

President Donald Trump was considering other marijuana opponents to fill the position.

Tilray is up 556% since going public in July.

  • The cannabis producer Tilray is going bananas after Jeff Sessions resigns as attorney general
  • Weed stocks are rallying after Michigan legalizes marijuana for recreational use
  • ANALYST: These are the next 4 states to legalize marijuana

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