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Tilray's strategy to focus on international expansion while dismissing Canada is very risky, Jefferies says.
Tilray is set to report fourth-quarter earnings after Monday's closing bell.
The cannabis producer Tilray is gaining ground after announcing plans to acquire cultivator Natura Naturals
Canadian marijuana-producer Tilray was up almost 2% Tuesday after announcing plans to acquire cannabis cultivator Natura Naturals.
Tilray was down 10% Tuesday as the company's lock-up period expires, allowing early investors to sell shares from the company's July public listing.
Tilray is soaring after announcing a deal with a unit of the Swiss drug giant Novartis to take its medical products global
Tilray rallied 10% Tuesday after saying it has partnered with a unit of Swiss drug giant Novartis to develop its medical cannabis products globally.
The agreement is a significant increase in the value of dried cannabis that Tilray originally agreed to purchase from Supreme on September 10. That deal was for 2 million Canadian dollars worth — 10 million less than Wednesday's announcement.
One prominent short-seller, Andrew Left of Citron Research, compared the rally to the cryptocurrency craze of early 2018: "These stock prices are equivalent to bitcoin mania – although it is even more ridiculous than bitcoin," he said on September 12, when shares were lower than current levels.
Another marijuana company, Canopy Rivers — the venture capital arm of Canopy Growth which takes minority stakes in smaller, private cannabis companies — is set to begin trading on the Toronto Stock Exchange on Thursday.
A Canadian cannabis company will be the first to import legal weed to the US — and its stock is surging
The drugs, imported in capsule form, are designed to treat Essential Tremor, a neurological disorder that causes involuntary and uncontrollable shaking that can make it difficult for patients to perform every day tasks like eating, drinking, or writing. It’s expected to begin in early 2019.
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.