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Cannabis Watch: Tilray stock rises after the company shows it can sell recreational pot

Tilray Inc. finally showed investors that it is capable of selling recreational pot in Canada.

Shares in the Canada-based weed producer rose more than 4% in the extended session Monday after Tilray TLRY, -0.36% said quarterly sales grew to $15.5 million, up from $5.1 million in the year-ago period. Tilray said the average net selling price per gram of pot increased to $7.52 from $7.13 in the year-ago quarter.

The company reported fourth-quarter losses of $31 million, which amounts to 33 cents a share, compared with losses of $2.9 million, or 4 cents a share, in the year-ago quarter.

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