Shares of Globalstar In. (GSAT) rose more than 69%, Tilray Inc. (TLRY) increased 40.74%, 500.com Limited (WBAI) up 39.93% among other stocks that made the headlines. We have highlighted below some of the reasons for the price movements.
Globalstar In. (GSAT)
Globalstar shares traded as high as 69.11% despite not seeing any company-specific news to justify the price action. The stock started the session at $1.28 to close at $2.08 after hitting the day’s high of $2.25. GSAT provides mobile satellite services, voice and data communications services through satellite worldwide.
Tilray Inc. (TLRY)
Tilray shares jumped 40.74% after the company announced it has entered into an agreement with Grow Pharma to import and distribute Tilray’s medical cannabis products into the United Kingdom. TLRY opened trading at $35.09 to close the day’s session at $42.35 hitting its 52-week high of $45.49.
500.com Limited (WBAI)
Shares of online gambling service WBAI traded as high as 39.93% after the company reported Q4 EPS and sales results up from last year. The stock had previously closed around $14 to begin Tuesday at $19.44 and closed at $20.85
Aphria Inc. (APHA)
Canadian cannabis company APHA shares increased 25.13% amid gains in the space following Tilray’s UK distribution agreement with Grow Pharma and earnings from Canopy Growth. The stock began trading at $20.66 to close at $23.75. It also hit its 52-week high of $24.14 on the day.