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That led to stock declines across the board for the marijuana producers. Now, shares of each company are a far cry from highs seen over the last year.
Tilray's stock has tumbled nearly 80% from the all-time highs it reached a few months after its IPO in 2018.
Weed stocks are surging after one of Canada’s largest cannabis companies doubled its quarterly sales
Tilray is now valued at $4.9 billion, despite its losses, and could keep growing thanks to investments from major players in other sectors, especially alcoholic beverages. Constellation Brands catalyzed a huge rally in Canopy Growth’s stock through the announcement of two investments recently.