Cannabis stock is so hot it's smoking

23 Setiembre, 2018, 18:25 | Author: Arnold Perez
  • Traders watch stock prices on the floor of the New York Stock Exchange in New York Sept. 19. Canadian cannabis companies are making giant gains in the U.S. stock market ahead of legalization in Canada next month

With so few shares available, they are ripe for picking by the short-sellers that are ever present - investors who bet that a stock will go down, and are building big positions in Tilray and other cannabis stocks.

Tilray Inc., the company who received the approval, already has global cannabis shipping experience.

Earlier in the week, Bloomberg reported Coca-Cola was in talks with rival Aurora Cannabis to develop beverages infused with the nonpsychoactive compound CBD.

Although legal in many states, marijuana is still illegal under federal law, which limits the number of US companies that are able to provide certain types of strains for medical use. Nahab's team had selected the Canadian company from a shortlist of four. The move marks Tilray's first clinical trial in the USA and supports the company's medical cannabis prospects as it competes with Canopy in an "IP-arms race", Cowen analyst Vivien Azer said in a September 18 note. CEO Brendan Kennedy helped power the surge on Wednesday by touting the company's growth prospects along with others in the cannabis sector. The research was partially funded by Tilray as well as the International Essential Tremor Foundation.

Canadian cannabis stock Tilray has, to put it mildly, been on a unusual trip.

"Our long-term vision is if a patient walks into any pharmacy in any country in the world that has legalized cannabis that patient should be able to obtain a Tilray product".

More news: Google admits it lets hundreds of third party apps read your emails
More news: Nadal se retira de torneos en Beijing y Shanghái
More news: Fashion house takes heat for selling 'poverty' shoes

The massive surge in pot stock Tilray Inc. has delivered a multi-billion dollar windfall for a little-known private equity fund backed by investor Peter Thiel. Tilray jumped 29 per cent Tuesday and 38 per cent Wednesday, and it's dropped 19 per cent Thursday.

Tilray has agreements to sell pot in Canadian pharmacies including Shoppers Drug Mart and is investing in production capacity in Portugal so it can supply the European Union from within Europe, Kennedy said in an interview. He says that unless the USA legalizes marijuana for recreational use, the current price of cannabis stocks is just way too high.

"Citron would like to inform investors of caution on the ongoing and real green rush", the firm said at the time. The market has since been calling for Tilray to release more shares into the public. Last year, Barrick earned more than $8 billion while Tilray's revenue was only at $20 million. About a third of Tilray's float is sold short, according to financial analytics firm S3 Partners.

Tilray soared Tuesday after announcing the U.S. DEA approved plans for it to import medical marijuana to supply a clinical trial in California; the stock has gained 42 per cent this week and more than 1,100 per cent since its trading debut in July.

Battley told the Post that a US listing would broaden access of its stock to institutional investors who aren't allowed to trade OTC-listed stocks.



Rusia culpa a Israel por derribo de avión por fuerzas sirias
Describió las acciones de Israel como "una respuesta altamente ingrata a todo lo que Rusia ha hecho recientemente por el Estado de Israel ".

Descubrieron los restos de "Dickinsonia", el animal más antiguo de la Tierra
Además, era ovalado, simétrico, no tenía boca, intestinos ni ano, por lo que se cree que se alimentaba a través de la piel. Vivieron hace 500 millones de años, y eran ovalados y planos , con una especie de dorsal central.

Film director Kalpana Lajmi passes away
Lajmi also assisted Assamese cultural icon Bhupen Hazarika striking a creative collaboration with him. She posted, "Deeply around 4:30 am today morning #KalpanaLajmi passed away".

Klopp: Subbing superb Shaqiri was hard
Liverpool have gone 750 minutes without conceding a Premier League goal at Anfield, keeping eight clean sheets in a row. Great offensively, needs a little work defensively'.

EPL: Cardif City face City's test
So far, Chelsea have been unstoppable this term, claiming a win in all five of their matches played. Glenn Murray has scored four of the seven goals Brighton have managed this season.

Tropical Storm Kirk Forms In The Atlantic
Isaac then weakened to a tropical storm as it passed through the Lesser Antilles, though it did produce heavy rainfall. The National Hurricane Center said it is now monitoring two other areas of disturbed weather in the Atlantic.

Dispuesto a dejar fuera a Canadá del TLCAN
Cuando se le preguntó si el tiempo se está acabando, Freeland expresó que su enfoque es llegar a un acuerdo que sea bueno para los canadienses.

3.4 million poultry, 5,500 hogs drowned in Florence flooding
On Tuesday, the storm's remnants were continuing to soak the mid-Atlantic region and southern New England with heavy rain. One person was killed in Virginia by an apparent tornado whipped up by Florence, and six were killed in SC .

Labour wants election if PM May can't get backing for Brexit deal
Some 81% believe their standard of living would get worse after Brexit and 89% said it would be bad for jobs. A poll for the paper suggests 86% of members want a final say on the UK's future relationship with Europe.

El ránking FIFA lo lideran Francia y Bélgica
Estados Unidos es 22 con 1510 unidades, y se mantuvo en el mismo puesto en relación a la última clasificación de la FIFA . El ranking corresponde a septiembre y posterior a la fecha FIFA .