By Gene Johnson, Associated Press

(AP) — A Canadian company has become the first marijuana business to complete an initial public offering (IPO) on a major U.S. stock exchange, raising $153 million to expand its operations as Canada prepares to legalize the drug nationwide.

British Columbia-based Tilray Inc.’s shares began trading Thursday on the Nasdaq stock exchange. Initially priced at $17, the stock quickly jumped to more than $21 a share.

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