Canadian cannabis producer Tilray ($TLRY) made headlines in July when it became the first marijuana company to go public on the NASDAQ. Investors were warmly receptive, sending the stock from an opening share price of $17 to more than $200. Bloomberg Business reacted by tweeting "Pot company Tilray is now bigger than CBS, American Airlines, and Clorox."
Today, Tilray's stock price sits at a somewhat more modest (but still impressive) $112.14, giving it a market cap of over $10 billion. This makes it larger than American over-the-counter pharma company Perrigo.
Outside of stock prices, however, Tilray is growing where it matters the most: what the company calls "cannabis clinic partners", or physical locations where Canadians can buy cannabis products.
Cannabis isn't (yet) sold at pharmacies in Canada. Instead, it's sold at these locations, of which Tilray now has 169 in 84 Canadian cities.
Just last month, Tilray had 148 locations, which means it added 21 new cannabis clinic partners in just a few weeks. That's a faster growth clip than any Canadian pharmacy.
The new locations are listed below:
|
Name |
City |
State |
|---|---|---|
|
Apollo Cannabis Clinics |
Aurora |
Ontario |
|
Canabo Medical Clinic |
Edmonton |
Alberta |
|
Canabo Medical Clinic |
Springdale |
Newfoundland and Labrador |
|
Canabo Medical Clinic |
Barrie |
Ontario |
|
Canabo Medical Clinic |
Kingston |
Ontario |
|
Canabo Medical Clinic |
Bracebridge |
Ontario |
|
Canabo Medical Clinic |
Pasadena |
Newfoundland and Labrador |
|
Canabo Medical Clinic |
Vaughan |
Ontario |
|
Canabo Medical Clinic |
Brampton |
Ontario |
|
Cannabis Access Centre |
Montreal |
Quebec |
|
Cannabis Supply Company |
Windsor |
Ontario |
|
Cannabis Supply Company |
London |
Ontario |
|
Clarity Medical Centre |
Vancouver |
British Columbia |
|
Clarity Medical Centre |
Victoria |
British Columbia |
|
Clarity Medical Centre |
Terrace |
British Columbia |
|
Hybrid Pharm |
Ottawa |
Ontario |
|
Main Street Medical Clinic |
Springdale |
Newfoundland and Labrador |
|
Management Advisory Practitioners Inc. |
Tecumseh |
Ontario |
|
MD Cannabis Clinic |
Calgary |
Alberta |
|
Medical Cannabis Resource Centre Inc. (MCRCI) |
Halifax |
Nova Scotia |
Tilray's 169 locations throughout Canada appear poised for further expansion as the company continues to grow rapidly.